Global empires the UFC and World Wrestling Entertainment are officially under the same banner as of Tuesday.
In April, news broke that Endeavor, the parent company of the UFC, would be purchasing the sports entertainment juggernaut and merging the two under a brand new publicly traded company, TKO Group. The merger officially closed on Tuesday with shares available on the New York Stock Exchange starting at $102 per share.
“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” Endeavor CEO Ari Emanuel said in a prepared statement. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”
Endeavor enters the deal with a 51-percent controlling interest in TKO Group while the existing WWE shareholders will maintain a 49-percent interest.
“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights,” Vince McMahon added. “Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO. Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”
The new @TKOGrp rings the NYSE bell.
Incredible moment in the history of both WWE & UFC, who are now forever linked.
(And perhaps redemption for those media members who have been following both entities, much to the chagrin of others, for a while? 😅)
pic.twitter.com/4FNUdXiSJa— Ariel Helwani (@arielhelwani) September 12, 2023
How Will the UFC and WWE Landscape Change?
“UFC fighters are gonna stay focused on the UFC and WWE superstars obviously do something different in our ring,” Nick Khan said. “… but you also see in the UFC people with big personalities who, once their UFC run is done, once the UFC and the fighter says, ‘Hey, maybe now’s the time to call it a day,’ could those people have a longer life at WWE, an extended life with TKO? We think so.”
Transcription by MMA Mania
