According to recent reports, the world of sports entertainment is about to see a significant shift. It has been announced that WWE and the company that runs Ultimate Fighting Championship (UFC) are joining forces to create a new sports entertainment entity, valued at an impressive $21.4 billion. This new company will be publicly traded and will house both UFC and WWE brands.
Endeavor Group Holdings Inc., a global entertainment, sports, and content company, will hold a controlling interest of 51% in the new venture, while existing WWE shareholders will hold a 49% stake. The enterprise value of UFC has been estimated at $12.1 billion, while WWE’s value has been estimated at $9.3 billion.
The new sports entertainment company, which is yet to be named, will be led by Endeavor CEO Ari Emanuel, a well-known Hollywood agent who has represented some of the biggest names in entertainment. Vince McMahon, who currently serves as executive chairman at WWE, will assume the same role in the new company.
Dana White, who has been the president of UFC since 2001, will continue in his role at the new entity. Meanwhile, Nick Khan, who joined WWE as president and chief revenue officer in August 2020, will take on the role of president at WWE within the new company.
This new partnership is set to be a game-changer in the world of sports entertainment, bringing together two of the biggest brands in the industry. With the vast resources and expertise of both companies, the new entity will likely dominate the global sports entertainment market, offering fans around the world a new level of excitement and entertainment.