Following the news that WWE reached an agreement with UFC parent company Endeavor, Mark Shapiro discussed the move and the path forward.
On April 3, WWE officially agreed to terms with Endeavor on a deal that will see the company merge with UFC and form a new company. Ariel Emanuel will serve as the Chief Exeuctive Officer of the new company, and Vince McMahon will serve as the Executive Chairman of the Board for WWE. Mark Shapiro will serve as the President and Chief Operating Officer of Endeavor and the new company. Nick Khan will serve as the WWE President, and Dana White will remain the UFC President.
Speaking with Sports Business Journal’s John Ourand, Endeavor president Mark Shapiro commented on the merger and stated that UFC’s playbook will be used.
“We’re going to run the UFC playbook,” he said. “The opportunity to put Vince McMahon’s creative head with Dana and Ari is going to create a significant amount of value for shareholders.”
Given WWE’s strong presence in media, Shapiro expressed his confidence that the company will be able to build up WWE’s sponsorship, licensing, hospitality, and ticketing businesses. Plus, per Ourand, Endeavor will aim to develop stars in other realms, including non-scripted shows, films, and commercial endorsements.
Shapiro also emphasized that the strategy paid off in a big way with UFC, as the company is much more valuable now than it was when Endeavor acquired it. He stated that they’re hopeful for the same outcome with WWE.
“That’s the strategy,” Shapiro said. “That’s how it has successfully played out for the UFC over the last six years. Remember when we bought it for $4.1 billion? People thought that price was crazy. Now, it is valued at $12.1 billion. I mean, what a story. We hope to do the same thing with the WWE.”
Vince McMahon commented on the merger and his involvement with WWE creative. Click here to see what he had to say.
WrestleZone will continue to monitor the WWE and UFC merger and provide more information as it becomes available.
