WWE has been sold to the Endeavor Group, and the wrestling company will now be merged with the UFC to form a new publicly traded company that will trade under the symbol TKO with a valuation of $21 billion.
Pwinsider has released additional details on WWE’s sale to Endeavor, which you can check out below:
* WWE had “a lot” of bidders, but Vince McMahon’s 20+ year relationship with Ari Emanuel was a major factor in why WWE ultimately shook hands with Endeavor. McMahon and Emanuel reportedly are very familiar with each other and the deal is said to have had a “the devil you know” aspect to it.
* The deal only came together in the last two weeks as Endeavor pulled ahead of other bidders. Emanuel had downplayed his interest in the WWE sale, likely as part of his negotiating strategy.
* The belief within WWE is that Endeavor will be able to “supercharge” WWE’s intellectual property the same way they did with the UFC. The sale will allow WWE to use Endeavor’s deep connections in Hollywood, as well as other holdings and properties such as hospitality and live event company On Location, various sports franchises, film finance and sales companies, and more.
* WWE appreciated the fact that Endeavor has largely remained out of the daily operations of the UFC, allowing it to be run with autonomy, and the belief is that WWE will be run the same way. This shall allow the WWE creative team, production team, etc. to be run the same way as it has been.
