Officially, Vince McMahon no longer controls the majority of WWE

 Officially, Vince McMahon no longer controls the majority of WWE

Officially, Vince McMahon no longer controls the majority of WWE

As a result of the $21 billion merger of the professional wrestling organization WWE and the mixed martial arts organization the UFC, Vince McMahon no longer controls a controlling stake in the firm.

Endeavor formally completed the acquisition of a majority stake in the world-famous wrestling organization by combining WWE and UFC to become TKO Group Holdings. 51 percent of the newly established corporation is owned by Endeavor.

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In April, Endeavor and an agreement reached to buy the majority of WWE. The largest professional wrestling organization in the world valued at $9.3 billion as a result of the purchase. Endeavor committed to spin out UFC as part of the agreement in order to build a $21 billion combat sports juggernaut.

Since buying his father’s business in 1982, McMahon has held a majority interest in WWE. The 78-year-old developed the company, which had a regional foundation, into a national phenomenon.

Officially, Vince McMahon no longer controls the majority of WWE

According to Endeavor CEO Ariel Emanuel, “TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment.”

We are optimistic in our capacity to accelerate their respective growth. And produce long-term sustainable value for shareholders given their continuous access to the Endeavor network. We will offer unparalleled experiences for more than a billion devoted fans worldwide with UFC and WWE under one roof.

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While there have been ups and downs, McMahon has managed to keep WWE at the pinnacle of the sport by stabilizing it.

Although WCW’s challenge in the 1990s and AEW’s rise over the past ten years have offered tough competition, WWE is by far the most lucrative promotion on the planet.

McMahon is continuing in his position as executive chairman of TKO Holdings. And is anticipated to continue participating in WWE’s creative processes. Triple H’s creator, Paul Levesque, will continue to lead WWE.

Web Desk

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