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The UFC and WWE merger was quite the news in the sports entertainment industry.
Endeavor the parent company of the UFC, bought the majority stakes in the World Wrestling Entertainment and formed a joint company with the UFC and WWE named 'TKO.'
UFC President Dana White and Chairman & CEO of WWE Vince McMahon had a change in the official designation under TKO Group Holdings.
White's new designation is CEO of MMA promotion, whereas Vince McMahon is the Executive Chairman of the TKO. Interestingly, McMahon now holds veto power in decisions involving the UFC.
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UFC head Dana White has stated that he still decides what goes in the UFC. However, on paper, McMahon now holds massive powers.
The ownership of the UFC remains with the parent company of TKO -Endeavor, as they own 51% of the TKO shares. The rest of the shares (49%) are owned by WWE.
Here's how some notable ownership roles looks like after the merger:
- CEO: Ari Emanuel.
- President & COO: Mark Shapiro.
- Executive Chairman of the TKO - Vince McMahon.
- CEO of MMA promotions under TKO - Dana White.
Vince McMahon didn't want to buy UFC
Vince McMahon might be one of the greatest promoters in the pro-wrestling industry if not the greatest. McMahon bought the WWE in 1982 for $1 million. He made the promotion into a billion-dollar empire in the next four decades.
That said, McMahon missed a huge opportunity in early 2000s when his son wanted to buy the UFC. However, Vince refused his son's request. Many believed McMahon had a belief that if you can't control the outcome, you can't make a star. With UFC being one of the most unpredictable sports, he didn't think it was worth the investment.
UFC President Dana White and Fertitta Brothers bought the UFC for $2 million in 2001 and sold the company in 2016 for a record over $4 billion to Endeavor.
At the time of the merger, the UFC was valued at $12.1 billion, whereas the WWE was valued at $9.3 billion.
