The WWE-Endeavor deal was announced shortly after this year’s WrestleMania 39, which caught many fans off guard. A new report reveals the transaction will officially close by this coming September and cost cuts are already anticipated. Learn more on this story, below.
WWE’s Endeavor Deal Is A Done Deal
As revealed through Endeavor’s recent Q2 2023 financial report, the merger between the UFC and the McMahon company through TKO Group Holdings will close sometime mid-to-late next month. Ari Emanuel, CEO of Endeavor notes that the company delivered “solid” results this quarter and the merger is close to launching.
He goes on to say their dividend payment and repurchase plan initiatives will start in Q3. Emanual also states that they will continue to focus on maintaining capital allocation and delivering long-term growth for the organization.
Cost Cuts Are On The Horizon
Looks like cost cuts are on the way for both UFC and the wrestling promotion. Wrestlenomics’s Brandon Thurston reports that Ari noted during the Q2 results conference call that plans are “underway” for cost savings and collaborations after the merger closes.
Still, WWE’s Nick Khan noted earlier this year that cost cuts wouldn’t affect the company’s television product, hinting there are no talent releases expected. Only time will tell.
With this merger, UFC and the wrestling company will come together under the TKO Group Holdings parent organization, with Mr. Emanuel as the CEO. Vince McMahon will be the Executive Chairman of TKO, and Khan will get the role of WWE President.
While VKM “retired” in the summer of 2022, he ended up returning to the company in early 2023 and placed his family’s company “up for sale”. It garnered some interest, but Endeavor was the organization that was able to seal the agreement.