Endeavor announced that it would form a new global company, NewCo, which would join WWE and the UFC, owning 51% of their shares, while existing shareholders in WWE would have a 49% stake.
This unification is historic and has already been discussed by both Vince McMahon and Ari Emanuel, who will be at the helm of the new company.
Puck’s Dylan Byers has released more details about the deal between Endeavor and WWE.
Endeavor officials made the first proposal to Vince McMahon and Nick Khan in mid-March, and negotiations continued while Liberty Media also expressed interest in purchasing WWE.
Endeavor President and COO Mark Shapiro revealed to Puck that as of Saturday, April 1, he did not know whether or not they would be able to complete the deal.
This historic deal was only finalized by Endeavor CEO Ari Emanuel, who was with Vince McMahon and Nick Khan at SoFi Stadium during WrestleMania 39, with some technical details to be worked out by lawyers for both teams.
The contract formalizing this deal was only signed on Monday morning, a few hours before the official announcement.
Did you expect this deal to be completed so quickly?
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