WWE has been SOLD to UFC's parent company Endeavor Group.
The sale was announced just hours after WrestleMania 39's second and final night.
That means the wrestling giants and UFC will merge and form a new publicly traded company under their new owners.
WWE will no longer be a family-owned company after decades under the McMahons.
But patriarch Vince McMahon seems set to be part of the deal and continue running the company as executive chairman.
Who are the Endeavor group?
Endeavor is an American holding company for talent and media agencies.
Read More on WWE
WWE star Logan Paul issues cheeky KSI post after WrestleMania loss
WrestleMania Night 1 results: Zayn and Owens win tag titles, Logan Paul loses
The group represents artists in film, television, music, theater, digital media and publishing.
The company is run by CEO Ari Emanuel and executive chairman Patrick Whitesell.
What is their other sports companies?
As mentioned earlier, Endeavor also owns the UFC, which means Dana White's promotion will merge with WWE.
The company is very much involved with sports as it also works with the NFL and NHL.
Most read in Sport
Endeavor takeover CONFIRMED, Shane McMahon injury, Reigns BEATS Rhodes
Teary Shakira's farewell as she leaves Barcelona for GOOD after Pique split
Seven bosses in race to replace Potter at Chelsea, including Pochettino & Rodgers
Graham Potter SACKED by Chelsea following horror run of form leaving Blues 11th
The group has also linked with basketball with interests in the Euroleague competition.
FREE BETS AND SIGN UP DEALS – BEST NEW CUSTOMER OFFERS
What is Endeavor's WWE deal?
Endeavor own 51 per cent, while WWE shareholders will get the other 49 per cent in a deal worth a total £17billion.
The deal will also give the wrestling giants an enterprise value of £7.5bn, with UFC valued at just under £10bn.
McMahon, though, will continue to be involved in WWE as executive chairman, while Emanuel will act as chief executive.
That is despite the WWE owner's sudden retirement in July following allegations claiming he paid hush money to several women who have alleged sexual misconduct between 2006 and 2022.
Source: Read Full Article