Barely 12 hours after reviews first emerged that Endeavor, the mum or dad firm of the UFC, was to buy the sports activities leisure model WWE and merge the 2 firms into one publicly-traded firm, the deal has been confirmed by way of an Endeavor press launch.
Below the phrases of the multi-billion greenback settlement, which you can read more about here, the WWE and UFC manufacturers will joined underneath a single company umbrella, although each will stay separate entities from industrial and leisure points. Dana White will stay UFC president, whereas Nick Khan will maintain the identical position within the WWE.
Referencing the deal in a press launch issued on Monday, Vince McMahon stated that the work Endeavor has finished because it acquired the UFC for a payment of simply over $4 billion in 2016 leads him to consider that the merger is one of the best viable possibility for the WWE, which has been rumoured to be accessible for full or partial funding since earlier this yr.
“Given the unbelievable work that Ari [Emanuel] and Endeavor have finished to develop the UFC model — practically doubling its income over the previous seven years — and the immense success we’ve already had in partnering with their group on plenty of ventures, I consider that that is certainly one of the best end result for our shareholders and different stakeholders,” said McMahon.
“Collectively, we can be a $21+ billion stay sports activities and leisure powerhouse with a collective fanbase of greater than a billion individuals and an thrilling development alternative. The brand new firm can be nicely positioned to maximise the worth of our mixed media rights, improve sponsorship monetisation, develop new types of content material and pursue different strategic mergers and acquisitions to additional bolster our sturdy steady of manufacturers.
“I, together with the present WWE administration group, stay up for working intently with Ari and the Endeavor and UFC groups to take the companies to the subsequent stage,” he concluded.