According to CNBC, WWE is in advanced talks to be sold to Ari Emanuel’s Endeavor Group, which is the parent company of UFC, according to sources familiar with the matter.
CNBC also notes that a deal could be announced as soon as this Monday. It is also being said UFC and WWE are expected to form a new publicly traded company as part of the new agreement. CNBC noted that this information is according to the people who declined to be named due to the confidential nature of the discussions.
Endeavor is expected to own 51% of the new combat sports and entertainment company, while WWE shareholders would get the other 49%, according to the people. The Endeavor deal gives WWE an enterprise value of $9.3 billion, they said.
Emanuel is expected to act as chief executive of both Endeavor and the new company. Vince McMahon 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 development comes during the same weekend as WrestleMania 39 in Los Angeles, CA. WWE has spent the past several months looking for a buyer. Vince McMahon returned to the company as chairman this January to help facilitate a sale. The new deal would end WWE’s decades-old status as a family-run business.
Vince McMahon and the WWE Board of Directors, per a recent SEC filing, revealed Vince signed a two-year employment agreement with the company.
We will provide more information as it becomes available.