Two of the world’s most renowned brands, WWE and UFC are all set to merge in a deal worth a whooping 21.4 Billion dollars.
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A new publicly traded company under the ticket name ‘TKO’ will comprise both the brands, WWE and UFC, with the latter’s owners Endeavor Group Holding Inc. set to take up a controlling stake of 51 per cent in the new venture. While the existing WWE shareholders will be subjected to 49 per cent of the stake.
The value of UFC was quoted to be around 12.1 Billion dollars, while WWE clocked in at 9.3 Billion dollars in the same parameter.
The deal will witness two of the biggest names in the world of combat sports coming together, following the work of WWE board member Vince McMahon, who oversaw the sale process, which ensued for months.
Co-founder and former CEO McMahon announced that WWE were exploring options for a sale back in January, upon his return to the company following a brief sabbatical after reports of alleged sexual abuse and the follow up hush money McMahon handed out to keep details pertaining to the same from getting out.
McMahon is set to retain his role in the yet-unnamed company.
“This is a once-in-a-lifetime opportunity to bring together two leading pure-play sports and entertainment companies," Ari Emanuel, CEO of Endeavor said.
Entertainment stalwart, Endeavor started out representing movie and television talents, before successfully branching out to other industries such as tennis championships, with investments in Madrid Open and Miami Open.
UFC’s stock values also have consistently seen a rise ever since the Endeavor takeover back in the year 2016 and CEO Emanuel is positive of a continued up trend in the value of the new company going forward.
WWE recently held its annual showpiece of Wrestlemania in a successful two-day show in which multiple high-octane bouts entertained the masses that had flocked into the stadium in Los Angeles as well as those who tuned into the pay-per-view event.
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