WWE Spoke With “60 Potential Counterparties” Ahead Of Sale

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WWE and Vince McMahon stunned the world on the day after WrestleMania 39 when it was revealed that the company was set to be taken over by UFC’s parent company Endeavor.

Rumors had run wild since Vince McMahon returned to WWE in early 2023 that the company was on the verge of being sold with all sorts of runners and riders to take over the sports entertainment behemoth being mentioned.

In a new filing to the SEC, the scope of WWE’s possible future was laid bare with sixty potential alternatives in contact with the company with a hint that Saudi Arabia’s government was also in talks with them:

“Beginning on January 17, 2023 and continuing until April 2, 2023, when WWE executed the transaction agreement, WWE’s financial advisors, acting on its behalf, contacted and were contacted by over 60 potential counterparties, including strategic companies, financial sponsors, family offices and sovereign wealth funds.

“Between February 6 and March 21, 2023, WWE entered into confidentiality agreements with 20 potential counterparties. All but one of the confidentiality agreements entered into by WWE in connection with this process included a standstill provision for the benefit of WWE with a customary exclusion permitting parties to make proposals to WWE privately and confidentially, and each of the standstill provisions had a duration of at least 12 months.

“All confidentiality agreements entered into with standstill provisions included the customary exclusion for private proposals and a “fallaway” provision that would allow the counterparty to make a proposal to acquire WWE in the event WWE entered into a definitive sale agreement. Each potential counterparty that had indicated interest in exploring a strategic transaction with WWE was provided an opportunity to enter into a confidentiality agreement with WWE.”

The filing also notes the new name of the parent company that will oversee both WWE and UFC when the Endeavor deal is finalized.