World Wrestling Entertainment and the Ultimate Fighting Championship joining forces in multi-billion-pound tie-up
WORLD Wrestling Entertainment (WWE) and the Ultimate Fighting Championship (UFC) are joining forces in a multi-billion-pound tie-up.
Vince McMahon, boss and controlling shareholder of pro wrestling promotion company WWE, has struck a deal with Endeavour Group, owner of mixed martial arts organisation UFC, to combine the two brands.
The newly merged entity will be spun out into a publicly traded firm worth over £17billion.
Fighting fit: Vince McMahon, boss of pro wrestling company WWE, has struck a deal with Endeavour Group, owner of mixed martial arts organisation UFC, to combine the two brands
Beverly Hills-based Endeavour will own 51 per cent of the new business with WWE investors controlling the remaining 49 per cent. The deal values the latter at £7.5billion. Endeavour boss Ari Emanuel will be chief executive of the conglomerate while McMahon will act as executive chairman.
The deal marks a stunning comeback for McMahon, 77, who was forced out last July amid sexual misconduct allegations and hush money payoffs.
He was succeeded by his daughter Stephanie.
But in January he bulldozed his way back on to the board in a coup, resulting in Stephanie’s resignation.