Whatever seemed impossible because the reality today as WWE has been sold to Endeavor, the company that owns UFC. The $9.3 billion deal ensures the domination of The Endeavor Group in the field of combat sports.
Endeavor group discloses that they will own 51% of the combined company and WWE shareholders will have the remaining 49%.
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” said Ariel Emanuel, CEO of Endeavor. “For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”
And Vince had some comments regarding this, “Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,”
In January, WWE said that they will look for various other options. But selling was a quote unexpected event.
Endeavor tried to capitalize on the increasing popularity of live events and acquiring WWE makes a solid statement. And as WrestleMania is over, it is the perfect time for WWE to start a new chapter.
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