WWE Officially Merges With UFC To End Vince McMahon's Majority Ownership

Vince McMahon's majority ownership of WWE is over, 41 years after he purchased the promotion from his father Vince McMahon Sr. in 1982. 

It was announced today that WWE's merger with UFC to create TKO Group Holdings has been completed. Endeavor holds a 51 percent controlling interest in TKO Group Holdings, while WWE shareholders hold the other 49 percent. This includes 16 percent for Vince McMahon, who has been appointed the Executive Chairman of the new company. Nick Khan, meanwhile, is the new President of WWE. Endeavor CEO Air Emanuel is the CEO of TKO Group Holdings. 

"The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment. Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide," Ari Emanuel said.

"This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor's incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO. Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor," Vince McMahon added.

TKO Group Holdings also includes Mark Shapiro as President and Chief Operating Officer, Andrew Schleimer as Chief Financial Officer, and Seth Krauss as Chief Legal Officer. 

It was announced back on April 3, mere hours after WrestleMania 39, that a deal had been agreed to sell WWE to Endeavor that would lead to a merger between WWE and UFC later in the year. 

Vince McMahon put WWE up for sale in January 2023 after forcing his way back into the company with George Barrios and Michelle Wilson, with a restructured board of directors appointing McMahon as Executive Chairman. Stephanie McMahon, who had been serving as Chairwoman and Co-CEO with Nick Khan, resigned from WWE following her father's return. 

Efforts to sell WWE began in earnest and there was plenty of interest, with Endeavor facing tough competition to buy WWE until the very end from Liberty Media, the owners of Formula One. WWE ultimately opted to accept Endeavor's offer, though, and a term sheet was signed on April 1. 

McMahon had been out of WWE for the second half of 2022 after his resignation as CEO and Chairman amid a sexual misconduct and hush money scandal. Numerous revelations in the months preceding McMahon's resignation revealed he paid $14.6 million to suppress allegations of sexual misconduct and infidelity over several years. McMahon also allegedly paid $5 million to the Donald Trump Foundation in connection with the former President of the United States' WWE TV appearances in 2007 and 2009. 

The payments were not recorded in WWE's annual accounts which prompted the beginning of federal government investigations into the unrecorded expenses and led to McMahon's resignation. Those investigations remain ongoing and McMahon was served with a federal grand jury subpoena on July 17, 2023. 

McMahon underwent spinal surgery on July 21. He returned to WWE on Monday, making several changes to Raw.