TKO continues to make its mark on the WWE and UFC, merging both company’s live events teams into one unit.
WWE and UFC merged into one entity in September last year. It ended Vince McMahon’s 40-year reign as the leader of the WWE. Multiple changes have been made behind the scenes since then, with another significant announced earlier today.
With NXT Battleground taking place at the UFC Apex, more collaborations between the two companies seemed likely. Now, TKO have announced the two company’s live event teams will merge. This could lead to a loss of jobs, although details on that have not been made public.
Chief Financial Officer for TKO, Andrew Schleimer, said in the press release:
“Demand for live sports and entertainment has never been stronger, and we believe our portfolio of events will continue to drive the growth of our business. The newly integrated TKO Live Events Strategy Team will focus on creating operational efficiencies and developing strategies to leverage the broader economic benefits we bring to host cities, including partnering with local governments and maximizing revenue opportunities from site fees.”
They also announced that Peter Dropick has been promoted to the role of Executive Vice President, Event Development and Operations for TKO.This was after overseeing five years of profits in a similar role for UFC.
The company claimed the goal was “to leverage the massive global popularity of UFC and WWE.”, and “continue to grow the TKO live events business domestically and internationally”.
Since the merger, TKO has posted record revenue. WrestleMania 40 was one of the biggest weekends in wrestling history. It brought in over $20 million in ticket sales over both days. It was a rousing success for TKO’s first WrestleMania.
