WWE is holding its biggest event WrestleMania at SoFi Stadium in Hollywood this weekend, but reportedly the company could be heading in a new direction on Monday.
CNBC’s Alex Sherman is reporting that WWE is close to being sold to UFC’s parent company Endeavor. This comes months after Vince McMahon returned to power in the company to usher in a sale.
Sherman reports that Vince McMahon is in “advanced talks” to sell WWE to Ari Emmanuel’s company and a deal could be announced as soon as Monday.
It was also stated that both WWE and UFC are “expected to form a new publicly traded company as part of the agreement, according to the people, who declined to be named due to the “confidential nature of the discussions.”
Endeavor would own 51% of the new combat sports and entertainment company and shareholders would own 49%.
Furthermore, Vince McMahon is expected to stay on board as chief executive of both Endeavor and the new company.
Sherman writes:
Emanuel, a Hollywood super agent, 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.
The news of the sale happening this week falls in line with Nick Khan’s statements in February when he said that they expected to sell the company within months.
For what it’s worth, McMahon was on headset last night and doing more than he has been in months and there’s been a lot of speculation that he could end up heading creative again.
Scoop details: UFC and WWE are expected to form a new publicly traded company as part of the agreement.
This allows WWE to follow the Endeavor/UFC playbook, which has been very lucrative/effective. https://t.co/UP60LfmaWO
— Alex Sherman (@sherman4949) April 2, 2023
Big scoop: Endeavor is finalizing a deal to buy WWE. To be announced tomorrow. https://t.co/30Z2T5UZHs
— Alex Sherman (@sherman4949) April 2, 2023
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