Kemo
10-12-2023, 08:19 PM
Ari Emanuel vs. Vince McMahon?
Emanuel, CEO of Endeavor and the man with the keys to the kingdom of TKO Group -- the parent company of WWE and UFC -- cited multiple reasons for the new company's stock price dropping during an appearance at the Bloomberg Screentime conference in Los Angeles on Wednesday. One of the reasons he gave was Vince McMahon.
Emanuel said:
"One, the reason the stock is down is they (the market) thought Raw was the best package. I saw 40 percent increase which was in line with expectations … Two, the PFL situation and three, probably Vince (McMahon) in our deal. He wanted to be able to put (up), at any point in time, his stock. He’s 78 years old. He’s been working at this for decades and decades so, I think those three back-to-back issues.”
WWE and UFC were officially folded in to the TKO Group in September. Endeavor is the parent company of TKO Group and agreed to purchase WWE in April during WrestleMania weekend. Endeavor has owned the UFC since 2016.
After the TKO Group officially formed in September, reports indicated that McMahon's TKO Group shares totaling $3 billion were registered for sale, giving McMahon flexibility to avoid a lockup period that currently applies to other TKO stockholders.
After the WWE merger with UFC into TKO Group, McMahon became Executive Chairman of the new company. The TKO Group stock price peaked at nearly $116 and is now trading at $80 a share.
Emanuel, CEO of Endeavor and the man with the keys to the kingdom of TKO Group -- the parent company of WWE and UFC -- cited multiple reasons for the new company's stock price dropping during an appearance at the Bloomberg Screentime conference in Los Angeles on Wednesday. One of the reasons he gave was Vince McMahon.
Emanuel said:
"One, the reason the stock is down is they (the market) thought Raw was the best package. I saw 40 percent increase which was in line with expectations … Two, the PFL situation and three, probably Vince (McMahon) in our deal. He wanted to be able to put (up), at any point in time, his stock. He’s 78 years old. He’s been working at this for decades and decades so, I think those three back-to-back issues.”
WWE and UFC were officially folded in to the TKO Group in September. Endeavor is the parent company of TKO Group and agreed to purchase WWE in April during WrestleMania weekend. Endeavor has owned the UFC since 2016.
After the TKO Group officially formed in September, reports indicated that McMahon's TKO Group shares totaling $3 billion were registered for sale, giving McMahon flexibility to avoid a lockup period that currently applies to other TKO stockholders.
After the WWE merger with UFC into TKO Group, McMahon became Executive Chairman of the new company. The TKO Group stock price peaked at nearly $116 and is now trading at $80 a share.