After reports of Vince McMahon once again taking up the helm of WWE to put it on sale became public in January, WrestleMania fans worldwide turned curious as to who it is that will come into power next. Incidentally, the biggest contender in public view at that time became none other than, one of the company’s biggest stars ever, Dwayne ‘The Rock’ Johnson. Recent reports suggest that WWE is finally making that sale, however, it is not The Rock who is going to make a comeback to the wrestling world in a new role.
According to reports, it is in fact, the parent company of UFC, Endeavor Group Holdings, Inc., who is snatching this deal from the fan-favorite Dwayne Johnson. Although it might seem like a shock to fans of MMA and WrestleMania both as the former being a bona fide competitive sport and the latter being scripted, for some fans, it seems this historical event has been a long time coming.
Dwayne Johnson’s bid to buy WWE
Although rumors suggested that Dwayne Johnson could return to take the helm of WWE, expert insider reports claimed that the situation was “highly unlikely.” For starters, according to them, he will need a lot of investors and partners to claim the $6.5 billion bid, and for the partners not directly providing content, it might turn out to be quite unprofitable. As the major share of the company’s revenue come from TV, it might become harmful if the targeted market and what the partners are willing to pay for WWE changes suddenly.
As a result, that scenario was debunked from the start. Although The Rock did save McMahon’s XFL in 2020, that was on a much smaller scale of around $15 million. While CNBC’s Alex Sherman reported during that time that WWE has appointed JP Morgan for advice on the sale, The Rock mentioned in an interview with CNBC’s David Faber that any potential buyers for the company must have an incredible passion for the world of pro wrestling and the company alike.
He elaborated, “the fan base is very large and very passionate and there’s nothing like the WWE,” as a result who is used to having his plate full of demanding Hollywood schedules, playing another major role in the wrestling world might be too stressful. Although, he reiterated, “however, I’m going to make room for [more]’ — and I would find a way to do that,” it seems becoming WWE’s president is not gonna be on his plate for a long time.
WWE merges with Endeavor Group Holdings Inc.
Sherman reported yesterday that the Endeavor Group is in advanced talks with WWE to finalize the deal. Stressing that the news can even be formally announced by the company as soon as today, April 3rd. He also mentioned that it is possible that the companies might “form a new publicly traded company,” after the completion of proceedings. Endeavor is expected to retain 51% and WWE the remaining 49% of shares from this deal. Further on, sources say that this would take WWE’s enterprise value to $9.3 billion.
While Endeavor’s current CEO Ari Emmanuel is expected to serve as the CEO of this newly merged company, WWE chairman McMahon is to keep his position as the executive chairman in the company as well. On a similar note, Mark Shapiro, Endeavor’s president is to become the president of the new company, with UFC president Dana White to remain in his position of promoting mixed martial arts, and WWE CEO Nick Khan to serve as the wrestling promotion president in this company under Endeavour.
WWE has had a year full of massive changes with Vince McMahon‘s resignation as CEO and executive chairman following his multi-million dollar harassment and embezzlement scandals in 2022, and his return in January 2023 to retain his chairman position in the company to put it for sale. However, this historical event of merging two of the biggest institutions in the world of wrestling, especially in the middle of WrestleMania 39 currently ongoing, is sure to make rounds.
Source: Comic Book Resources
