WWE has been sold to the Endeavor Group, and Endeavor President Mark Shapiro says that WWE will be given the same UFC treatment as soon as the deal goes into effect later this year.
On Monday, Endeavor announced that WWE and UFC will be merged into a new publicly traded company that will trade under the symbol TKO with a valuation of $21 billion.
Speaking with Sports Business Journal, Shapiro stated that the plan is similar to what they did with UFC. He said,
“We’re going to run the UFC playbook. The opportunity to put Vince McMahon’s creative head with Dana and Ari is going to create a significant amount of value for shareholders.”
Shapiro remarked that 80% of WWE’s net revenue is generated from media and that Endeavor can grow the company’s sponsorship, licensing, hospitality, and ticketing revenue, as well as develop wrestlers via non-scripted series, films, and endorsements. He said,
“That’s the strategy. That’s how it has successfully played out for the UFC over the last six years. Remember when we bought it for $4.1 billion? People thought that price was crazy. Now, it is valued at $12.1 billion. I mean, what a story. We hope to do the same thing with the WWE.”
The WWE-Endeavor deal is expected to close in the second half of 2023.