Vince McMahon returned to WWE back in January with to pursue a sale of the company and it seems that things are moving forward at a rapid pace. There have been a number of rumored parties interested in a possible WWE sale, and now CNBC is reporting that UFC’s parent company Endeavor is in advanced talks to purchase World Wrestling Entertainment.
It’s being said that a deal could be announced as soon as Monday, and that WWE and UFC are expected to form a new publicly traded company. It was noted that Endeavor will end up owning 51% of the new combat sports company while the other 49% of the company will be owned by WWE shareholders. The Endeavor deal will reportedly give WWE an enterprise value of $9.3 billion.
It’s expected that Ari Emanuel will serve as chief executive for Endeavor and the new company. Vince McMahon is expected to remain executive chairman, Dana White will remain president of UFC, and Nick Khan will serve as president of the wrestling company.
Nick Khan had previously said that Vince McMahon would be willing to step down to accommodate potential buyers, but that doesn’t seem to be the case with this deal. Stay tuned for more updates on the WWE sale process as they become available.
