On Tuesday, Endeavor formally finished buying the bulk of the company’s shares, combining WWE and UFC to form TKO Group Holdings.
With the ringing of the official opening bell on Tuesday, shares of the firm started trading on the New York Stock Exchange, with an initial share price of $102.
51 percent of the just-established corporation is owned by Endeavor. Following the conditions of the agreement, McMahon has 16.4% of the TKO stock. In April, Endeavor and an agreement were reached to buy the majority of WWE.
WWE has agreed to merge with UFC to form a new publicly traded company controlled by Endeavor Group. @ScottWapnerCNBC spoke with Vince McMahon on the deal, his legacy and more. https://t.co/spw5EhN0wR pic.twitter.com/KfKK7AjYTU
— CNBC (@CNBC) April 3, 2023
The largest professional wrestling organization in the world was valued at $9.3 billion as a result of the purchase. Endeavor committed to whirling out the UFC as part of the agreement in order to build a $21 billion combat sports powerhouse.
🚨 Vince McMahon now has power to make key UFC decisions after role change in UFC/WWE merger pic.twitter.com/9PukwevpXc
— SPORTbible (@sportbible) September 14, 2023
McMahon is continuing in his role as executive chairman of TKO Holdings, and it is anticipated that he will continue to be connected with WWE’s creative processes. Following this amalgamation, McMahon was given the authority to decide on important matters for the UFC.
Fans are not happy to know that Vince and Dana will be controlling the wrestling universe together. Some stated they were out, and some of the audience asked him not to create a mess in MMA.
Vince is no longer the company’s largest shareholder, though. The head of creative for WWE will continue to be Paul Levesque, better known as Triple H.
Vince McMahon does not share a good bond with some of his employees; he fired Cathy Kelley, Cody Rhodes, and many more, so it will be interesting to watch his bond with new employees.
Vince McMahon and Dana White have a decades-long Rivalry
The two have a complicated relationship that combines rivalry and respect, with White praising McMahon for his immeasurable accomplishments in professional wrestling.
— Conor McGregor (@TheNotoriousMMA) April 2, 2023
For spectators, the UFC and WWE have engaged in strong competition. Over time, their competition grew more intense, fuelling the egos of White and McMahon.
Reportedly, in 2011 Vince McMahon boldly challenged Dana White to a fight. Even though it never happened, this incident highlighted their rivalry and added a fiery chapter to their interwoven histories.
— danawhite (@danawhite) April 3, 2023
According to the successful completion of the UFC-WWE merger under the TKO Banner. Dana White has been promoted from the position of UFC president to that of UFC CEO. Now that both are governed by the same corporate structure, it will be interesting to see how their stories converge.