Undisputed WWE Universal Champion Roman Reigns at Wrestlemania 2023 | Source: WWE
The rumor mill was swirling ahead of Wrestlemania this past weekend with word that WWE and UFC may soon join forces.
Now, Endeavor Group Holdings (Endeavor) and World Wrestling Entertainment (WWE) have confirmed plans to create a new, publicly traded company pairing WWE with UFC. In the toy department, Mattel has a long-running relationship with WWE while Jazwares most recently produced UFC action figures.
“Given the incredible work that Ari and Endeavor have done to grow the UFC brand — nearly doubling its revenue over the past seven years — and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,” says WWE Executive Chairman Vincent K. McMahon.
On a combined basis, WWE and UFC scored $2.4 billion in revenue last year and a 10% annual growth rate since 2019.
“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” says Endeavor CEO Ari Emanuel. “For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation.”
Emanuel will lead the new company as CEO and maintain his position as CEO at Endeavor. McMahon will serve as Executive Chairman of the Board while Mark Shapiro will serve as President and Chief Operating Officer of both Endeavor and the new company. Dana White will continue in his role as President of UFC and Nick Khan will serve as President of WWE.
Upon the close of the deal, currently slated to occur later this year, Endeavor will hold a 51% controlling stake in the new company and existing WWE shareholders will hold the remaining 49%. While a name for the company has not yet been chosen, it plans to be listed as TKO on the New York Stock Exchange.
The deal values the combined companies at more than $21 billion.
