In a significant development in the world of combat sports, the WWE and UFC have merged into a single entity, forming a colossal $21 billion company. The announcement was made on Monday morning by Endeavor, the parent company of UFC.
As per the disclosure, the shareholders of Endeavor will possess the majority ownership, with a 51 percent stake in the new organization. On the other hand, WWE shareholders will hold a 49 percent stake.
Under the new setup, Vince McMahon, the Chairman, and CEO of WWE, will be the Executive Chairman of the Board. Dana White, the President of UFC, will continue in his role, while Ariel Emanuel, the CEO of Endeavor, will be at the helm of the new entity.
McMahon expressed his elation over the development in a statement issued on Monday. This merger is expected to shake up the combat sports industry and potentially lead to many exciting changes in the future.
"Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity," McMahon said.
"The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands."
In addition, White expressed his elation on Monday about the merger, stating that "Vince is a savage in the wrestling space, Ari is a beast at what he does, and then add what we at UFC bring to the table and there is no limit to what this company can accomplish in the next few years."
The merger follows a tumultuous year for McMahon, who stepped down as WWE CEO in July but returned to the role in January. Upon his return, he announced his intention to explore all possibilities for a sale of the company.
As of now, the new organization resulting from the merger does not have a name yet.