It’s hard for anything to overshadow WrestleMania in the pro wrestling industry. But an impending sale of the company that puts it on is a rare and understandable exception.
Hours before night 2 of WrestleMania 39 was set to take place at SoFi Stadium just outside Los Angeles, CNBC reported that WWE was in “advanced talks” to finalize a sale to Endeavor Group. The expected deal will make a new public company out of WWE and the UFC, which Endeavor has owned since 2016.
The combined company will include both Vince McMahon as executive chairman and Dana White as UFC president, while current WWE CEO Nick Khan “will serve as president of the wrestling business.” Endeavor CEO Ari Emanuel will reportedly serve that role for both companies.
McMahon’s return to WWE in January was timed to kick the pursuit of a buyer for the company into high gear. He had announced his retirement in July 2022 following the fallout from a sexual harassment hush money scandal first uncovered by the Wall Street Journal.
Along with media companies and the Saudi Arabian Public Investment Fund, Endeavor was thought to be one of the most logical prospective bidders for WWE, particularly given its success with unlocking the full sponsorship potential of UFC. One by one, however, some of those companies seemed to drift away, perhaps scared off by the valuation WWE was seeking.
If CNBC’s report is correct, however, Endeavor isn’t worried about a deal that would value WWE at $9.3 billion. With WrestleMania 39 almost certainly about to be announced as its most financially successful event of all time, as well as new media rights deals to be negotiated soon, it’s hard not to think the timing makes perfect sense — even if it did come when WWE was busy with something that would have made plenty of news on its own.