Dana White Reacts To WWE And UFC Merger
The UFC’s Dana White has issued a statement regarding the UFC and WWE merger that was announced by Endeavor.
Earlier today, Endeavor Group Holdings and World Wrestling Entertainment announced a deal that saw Endeavor buy WWE. This is from a press release issued by Endeavor earlier today.
“Endeavor Group Holdings, Inc. and World Wrestling Entertainment, Inc. today announced that they have signed a definitive agreement to form a new, publicly listed company consisting of two iconic, complementary, global sports and entertainment brands: UFC and WWE. Upon close, Endeavor will hold a 51% controlling interest in the new company and existing WWE shareholders will hold a 49% interest in the new company.”
There was also a note on the current value of UFC and WWE, which has an enterprise volume of just over $9 billion.
“The transaction values UFC at an enterprise value of $12.1 billion and WWE at an enterprise value of $9.3 billion. The transaction represents a contribution price of WWE of approximately $106 per share (before any post-closing dividend). Additionally, UFC and WWE will each contribute cash to the new company so that it holds approximately $150 million. At closing, Endeavor intends to sweep all excess cash at UFC, and shareholders of the new company (other than Endeavor) are expected to receive a post-closing dividend.”
As for people running the companies, that was addressed in the press release too.
“The new company will be led by Emanuel (Chief Executive Officer), who will also continue in his role as Chief Executive Officer of Endeavor, McMahon (Executive Chairman of the Board) and Mark Shapiro, who will be President and Chief Operating Officer of both Endeavor and the new company. Dana White will continue in his role as President of UFC and Nick Khan will serve as President of WWE. The Board of Directors will consist of 11 members who will be appointed at a later date, six of whom will be appointed by Endeavor and five of whom by WWE.”
Dana White has been the UFC President since 2001 and the public face of the promotion as well while the promotion has grown a lot over the last 20 years. The UFC was sold to Endeavor in 2016 for just over $4 billion in a deal that has seen UFC grow in terms of market value and popularity since then.
On Twitter, Dana White released a statement about the sale while calling his new business partner Vince McMahon a “savage” in the wrestling space.
“This company has been on fire for the last seven years and now that we will be adding WWE to the portfolio, I am excited to take this to another level. Vince is a savage in the wrestling space, Ari is a beast at what he does, and then add what we at UFC bring to the table and there is no limit to what this company can accomplish in the next five years.”
It’s unknown if WWE will feature Dana White or any UFC talent on their programming any time soon, but perhaps there will be some sort of crossover interaction in the months and years ahead.
See more here: https://t.co/Aj9vWytZMMpic.twitter.com/7az4myYLsV
— danawhite (@danawhite) April 3, 2023