Why did Vince McMahon sell WWE to Endeavor? All you need to know

"Did Vince McMahon sell WWE?" is a question that was answered as the merger between the sports entertainment juggernaut and UFC was finalized on September 12, 2023. While this move was shocking, the 78-year-old seemingly had a good reason for doing so.

Vince McMahon retired from WWE in July 2022 but returned earlier this year with reports suggesting that he intended to sell the promotion upon his comeback. The rumors were confirmed after it was announced that World Wrestling Entertainment would merge with UFC under Endeavor Group Holdings to form a new entity.

In an interview with CNBC, Vince McMahon said that he sold WWE since it was the right move for the company's evolution. He further discussed how Endeavor CEO Ari Emanuel could take the organization to new heights.

“It’s the right time. It’s the right time to do the right thing, and it’s the next evolution of WWE. I could probably do what Ari is doing right now with UFC, but it would take me ten years. By that time, he’d be ten years ahead of me [laughs] It makes all the sense in the world for all of these synergies that we have to extract all of the value we can out of the marketplace.” [H/T WrestleZone]

WWE and UFC officially merged to form TKO Group Holdings earlier this week. McMahon, Triple H, Ari Emanuel, Daniel Cormier, Bianca Belair, and more were present to ring the opening bell at the New York Stock Exchange on Tuesday.

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What is Vince McMahon's position in the company after selling WWE?

Top TKO officials and talents at the NYSE

Due to the merger, many internal changes are taking place within WWE and UFC. Vince McMahon is the executive chairman of World Wrestling Entertainment on TKO's Board of Directors. Meanwhile, Nick Khan is the president of the Stamford-based promotion.

Ari Emanuel is the CEO of TKO and Endeavor. Dana White manages the UFC side of TKO. Endeavor owns 51% of TKO's shares, while WWE's shareholders own 49%.

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Does Triple H have a position in the company after the merger?

Triple H is not included on TKO's board but will remain the pro wrestling promotion's head of creative. A report also suggested that no massive changes will be seen in the day-to-day operations of World Wrestling Entertainment.

World Wrestling Entertainment and UFC will aim to scale new heights following the deal. Do you wish to see a crossover between the two organizations? Sound off in the comments section below.