Vince McMahon’s famed company, the WWE, has spent recent months looking for a potential buyer. Now, according to insiders, it’s come to light that the WWE may be coming close to being sold to Endeavor, the parent company of the UFC.
The news has been rumored to be released and confirmed as soon as Monday. Insiders are remaining anonymous due to the fragile negotiations of the deal, but it is believed in good faith to be nearing a conclusion and solid agreement.
According to CNBC, Endeavor is said to be retaining a 51% share of the company, while the remaining 49% is going to be split amongst shareholders. According to the rumored deal, WWE is rumored to be valued at an astonishing $9.3 billion.
More details about the Endeavor buyout of the WWE come to light
According to the insiders, the executive layout will look like this: Ari Emanuel of the Endeavor group will be acting as chief executive of Endeavor and the WWE. Vince McMahon is slated to be the executive chairman. Endeavor president Mark Shapiro will retain his role with the new company, not gaining or losing any positioning in the new hierarchy of executives. UFC president Dana White will also remain stationary, neither gaining nor losing any positioning. WWE CEO Nick Khan will, however, be seemingly demoted to acting president of the WWE, in a role nearly identical to Dana White‘s with the UFC.
The news hits the same weekend as the WWE’s biggest PPV extravaganza: Wrestlemania. To get the deal done, it has been reported Vince McMahon has resumed his position as chairman. The wrestling promotion’s shares are up by over 25%, so it’s not like its being sold at a low point. In fact, shares are up an exact 33% at the time of this article and the WWE seems to be as strong as ever.
Sadly, if this deal does come to fruition, it will end the company’s run as the largest entertainment business to be family-run in the entire world. The company got its start in the early 1960s as the then-called World Wide Wrestling Federation, aka WWWF. Vince McMahon purchased the company from his father in the 1980s and recently retired due to several different reports of affairs and potential sexual assaults being covered up with McMahon’s dirty millions.
Khan accepted the CEO role in January of this year and has since reported many interested buyers in the wrestling outfit’s franchise.
Do you think Endeavor buying WWE would be a wise investment?