Officially, Vince McMahon is no longer in charge of the majority of WWE.
On Tuesday, Endeavour formally finished buying the bulk of the company’s shares, combining WWE and UFC to form TKO Group Holdings.
With the ringing of the opening bell on Tuesday, shares of the firm started trading on the New York Stock Exchange, with an initial share price of $102.
51 percent of the newly established corporation is owned by Endeavour. Under the terms of the agreement, McMahon has 16.4% of the TKO stock. In April, Endeavour and a deal were reached to buy the majority of WWE. The largest professional wrestling organisation in the world was valued at $9.3 billion as a result of the deal. Endeavour agreed to spin out UFC as part of the agreement in order to build a $21 billion combat sports juggernaut.
The majority of WWE is no longer formally under Vince McMahon’s control.
TKO Group Holdings, which combines WWE and UFC, was officially formed on Tuesday when Endeavour officially completed purchasing the majority of the company’s shares.
Shares of the company began trading on the New York Stock Exchange on Tuesday with an opening share price of $102 at the sound of the opening bell.
Endeavour owns 51 percent of the newly formed corporation. According to the provisions of the contract, McMahon owns 16.4% of TKO shares. A agreement to purchase the bulk of WWE was completed in April with the help of Endeavour. The transaction increased the value of the largest professional wrestling company in the world to $9.3 billion. Endeavour agreed to spin out UFC as part of the agreement in order to build a $21 billion combat sports juggernaut.
While there have been ups and downs, McMahon has managed to keep WWE at the top of the sport by stabilising 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.
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