As WWE prepares for Night 2 of Wrestlemania 39, reports are coming out that the company is being sold to Ari Emanuel’s Endeavor, the parent company of UFC. The deal could be announced as early as Monday.
According to CNBC’s Alex Sherman, who reported the news Sunday afternoon, just hours before Night 2 of Wrestlemania. In this agreement, Sherman writes the following:
WWE and UFC would merge into one publicly traded company with 51% owned by Endeavor and the other 49% by WWE shareholders, according to the outlet’s sources. The deal will give WWE an enterprise value of $9.3 million and UFC an enterprise value of $12.1 billion.
Ever since Vince McMahon returned to WWE in the executive chairman role, he has been looking to sell the company. McMahon is back as an employee of the company, but it is unclear if he is the head of creative. Currently, Triple H fills that role. Despite, McMahon being on a headset during Night 1 of Wrestlemania.
In addition, Sherman writes:
Emanuel is expected to act as chief executive of both Endeavor and the new company. McMahon, likewise, is expected to be executive chairman, while Endeavor President Mark Shapiro will also work in the same role at the new company. Dana White will remain as president of UFC, while WWE CEO Nick Khan will serve as president of the wrestling business.
Around Full Press Coverage
NFL OPINION: Morten Andersen: The Toughest Place To Kick? For Me, It Was This Place
NFL: Joe Klecko: How Fate Changed My Life … And Sent Me To Canton
NFL DRAFT: 2023 NFL Draft Profile: QB C.J. Stroud
FULL PRESS HOCKEY: After Trade Deadline, Leafs’ Major Experiments Will Happen on Defense
PODCAST: According To Who? Ep 2: Top 5 Super Bowls Of All Time
WANT MORE PODCASTS? Check Out Some Of The Latest From Around The FPC Network
During last month’s fourth-quarter earnings call for Endeavor, Emmanuel commented on interest to buy WWE. At the time, his comments seemed like he was not interested in purchasing WWE.
“As it relates to WWE, it’s an unbelievable product,” Emanuel said. “Vince, you know, created a great business. We’ve had a longstanding relationship with them over two decades. We’re doing on location business with them, streaming business with them, his business is really valuable. But we’re not going to do anything as it relates to changing our leverage position right now.”
As we know in this business things can change like that. And it appears that things could be heading toward the finish line between these two parties.
Stay Tuned for more and always keep locked on Full Press Wrestling for more potential news on when WWE will be sold.
AEW Double or Nothing and WWE Night of Champions Review and CM Punk Returnby Full Press Coverage on June 7, 2023 at 9:57 pm
Jim is back once again joined by Teddy Repantis as they review AEW Double […]
AEW Double or Nothing and Night of Champions Previewby Full Press Coverage on May 26, 2023 at 9:59 pm
Jim is back once again joined by Teddy Repantis as they preview Double or […]
What's Next For CM Punk and AEW, The Bloodline, and the Countdown to Double or Nothingby Full Press Coverage on May 23, 2023 at 1:27 pm
Jim is back once again joined by Teddy Repantis as they discuss the launch […]
WWE Creates New Title and Brings Back The Draft So What's Nextby Full Press Coverage on May 2, 2023 at 3:03 pm
Jim is back once again joined by Teddy Repantis as they discuss the […]
FPH Daily: Stanley Cup Final Talk, Cole Caufield Extensionby Full Press Coverage on June 6, 2023 at 5:20 pm
Jim Biringer is back for another Full Press Hockey Daily breaking down the […]
FPH Daily: Stanley Cup Final Preview; History At IIHF Worldsby Full Press Coverage on June 1, 2023 at 2:48 pm
Jim is back with a Stanley Cup Preview between the Vegas Golden Knights […]
FPH Daily: Devils To Host Stadium Series, Changes In Toronto and Calgaryby Full Press Coverage on May 23, 2023 at 7:07 pm
Jim is back with another Full Press Hockey Daily as the Devils Return to […]
FPH Daily: Kyle Dubas OUT in Toronto; Panthers/Canes OT Thrillerby Full Press Coverage on May 19, 2023 at 7:11 pm
Jim is back with news of Kyle Dubas not returning in Toronto and what is […]
6/8 - Nuggets Dominate; PGA/LIV Mergeby Full Press Coverage on June 8, 2023 at 12:38 pm
Ian and John discuss the Nuggets Game 2 win over the Heat and the recent […]
6/6 - Golden Knights Cruise; NBA Final Heads To Miamiby Full Press Coverage on June 6, 2023 at 2:36 pm
Ian and John discuss the Golden Knights dominating win and look ahead to […]
6/5 - Heat Take Game 2; Golden Knights; Aaron Rodgers/Jordan Loveby Full Press Coverage on June 5, 2023 at 2:28 pm
Ian and John discuss the Heat's win over the Nuggets, the Golden Knights […]
6/2 - Nuggets Take Game 1, Barry Bonds, Stanley Cup Chat w/ Jim Biringerby Full Press Coverage on June 2, 2023 at 2:03 pm
Ian and John discuss the Nuggets Game 1 win over the Heat, the upcoming […]
Leave a Reply