Kemo
04-02-2023, 10:21 PM
:wwe5:
WrestleMania weekend just became even more newsworthy.
According to a report from CNBC's Alex Sherman, Endeavor Group, fronted by Ari Emanuel, is nearing a deal to purchase World Wrestling Entertainment. The deal could be announced as early as Monday, April 3.
Endeavor is also the parent company of UFC. The report notes that under the prospective deal, UFC and WWE would combined into one publicly traded company. Endeavor would purchase 51% of WWE, with 49% being retained by WWE shareholders. The deal would give WWE an enterprise value at $9.3 billion.
Emanuel would serve as chief executive of Endeavor and the new company being formed with the WWE purchase. Vince McMahon would serve as executive chairman. Endeavor's President Mark Shapiro would serve as president of the new company being formed. WWE's Nick Khan would serve as president on the wrestling side, while Dana White remains president of UFC.
Rumors of an impending sale of WWE have swirled for months. Vince McMahon returned to the company in January to help facilitate a sale. He also recently signed a new two-year employee contract.
News of a potential WWE sale is breaking during the biggest weekend of the year in the wrestling industry, with WrestleMania 39 currently taking place in Los Angeles, California. Heading into WrestleMania weekend, there were reports that a possible sale situation could heat up due to the event taking place in the Los Angeles area.
Night one of WrestleMania 39 took place on Saturday night to rave reviews among fans and industry insiders. Night two takes place on Sunday evening, with the main event featuring Roman Reigns taking on Cody Rhodes.
WrestleMania weekend just became even more newsworthy.
According to a report from CNBC's Alex Sherman, Endeavor Group, fronted by Ari Emanuel, is nearing a deal to purchase World Wrestling Entertainment. The deal could be announced as early as Monday, April 3.
Endeavor is also the parent company of UFC. The report notes that under the prospective deal, UFC and WWE would combined into one publicly traded company. Endeavor would purchase 51% of WWE, with 49% being retained by WWE shareholders. The deal would give WWE an enterprise value at $9.3 billion.
Emanuel would serve as chief executive of Endeavor and the new company being formed with the WWE purchase. Vince McMahon would serve as executive chairman. Endeavor's President Mark Shapiro would serve as president of the new company being formed. WWE's Nick Khan would serve as president on the wrestling side, while Dana White remains president of UFC.
Rumors of an impending sale of WWE have swirled for months. Vince McMahon returned to the company in January to help facilitate a sale. He also recently signed a new two-year employee contract.
News of a potential WWE sale is breaking during the biggest weekend of the year in the wrestling industry, with WrestleMania 39 currently taking place in Los Angeles, California. Heading into WrestleMania weekend, there were reports that a possible sale situation could heat up due to the event taking place in the Los Angeles area.
Night one of WrestleMania 39 took place on Saturday night to rave reviews among fans and industry insiders. Night two takes place on Sunday evening, with the main event featuring Roman Reigns taking on Cody Rhodes.