Endeavor President On Negotiations That Led To Buying WWE

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The President of Endeavor has revealed some details about when the company put in a bid to buy WWE and when they knew that their offer was accepted.

On Monday, April 3rd, the day after WrestleMania 39, Endeavor Group officially announced they had a $21 billion deal to form a new company that will encompass both UFC and WWE to become one massive sports and entertainment company.

The President of Endeavor, Mark Shapiro, spoke with Puck recently. Shapiro said he didn’t know the deal to purchase WWE would go through until Saturday, April 1st, which was Night One of WrestleMania 39.

It was also revealed by Shapiro that Endeavor put in a bid to buy WWE just three weeks ago.

The story from Puck revealed that Endeavor’s first bid to buy WWE was done in mid-March in a meeting attended by Shapiro, Ari Emanuel, WWE President Nick Khan, and WWE Executive Chairman Vince McMahon at the Raine Group offices in New York.

Following that initial meeting, Endeavor’s Shapiro & Manuel made another, “more emotional” pitch one week later at WWE Headquarters in Stamford, CT.

There was also another rival bidder – John Malone’s Liberty Media, the owner of Formula One, who apparently was in the race until the very end. Shapiro said, “it was nip and tuck all the way” in terms of the bidding process.

As for WWE’s future in terms of TV deals for Raw & Smackdown that are set to expire in October 2024, Shapiro said Endeavor’s presence will be helpful.

“There’s no question that when Nick goes in to renew his domestic deals, having us at the table, with our relationships and our portfolio of assets, will be helpful in the process.”

The all-stock deal will likely close by the end of this year, just as long as regulatory approval is okay.