Wrestlemania Apr 1, 2023; Inglewood, CA, USA; Logan Paul during Wrestlemania Night 1 at SoFi Stadium. Mandatory Credit: Joe Camporeale-USA TODAY Sports
MMAPro WrestlingWWEBy Sean Keeley on

For months there have been rumors and reports that Vince McMahon would sell WWE, the professional wrestling company he turned into a multi-billion dollar entity.

It appears that the sale is finally happening.

According to Alex Sherman at CNBC, WWE is set to merge with Ari Emanuel’s Endeavor, the parent company of the UFC.

“A deal could be announced as soon as Monday,” said Sherman. UFC and WWE are expected to form a new publicly traded company as part of the agreement, according to the people, who declined to be named due to the confidential nature of the discussions.”

He also reported that the way it will break down is that Endeavor will own 51% of the company while WWE shareholders would retain 49%. That would likely give McMahon a decent stake in ownership, although now as a minority owner.

“Endeavor is slated to own 51% of the new combat sports and entertainment company, while WWE shareholders would get 49%, according to the people,” said Sherman. “The Endeavor deal gives WWE an enterprise value of $9.3 billion, they said.”

While there’s more to come on this story and what it means for WWE, there was no shortage of reactions to the news, which happens to come the weekend of WrestleMania.

Sherman also noted that “UFC and WWE are expected to form a new publicly traded company as part of the agreement.”

https://twitter.com/henrytcasey/status/1642633701371572226

[CNBC via Awful Announcing]

About Sean Keeley

Along with writing for Awful Announcing and The Comeback, Sean is the Editorial Strategy Director for Comeback Media. Previously, he created the Syracuse blog Troy Nunes Is An Absolute Magician and wrote 'How To Grow An Orange: The Right Way to Brainwash Your Child Into Rooting for Syracuse.' He has also written non-Syracuse-related things for SB Nation, Curbed, and other outlets. He currently lives in Seattle where he is complaining about bagels. Send tips/comments/complaints to sean@thecomeback.com.

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