A new report has revealed that Vince McMahon will no longer have majority voting authority over WWE following the UFC merger. Endeavor, the parent company of UFC, has officially announced its acquisition of 51% of WWE in a landmark move for sports entertainment. With this, Endeavor will acquire a majority stake in WWE, leaving the remaining shares in the hands of WWE shareholders
Acquisition and Valuation
This agreement, inked on Monday, April 3rd, values the entire organization at an astonishing $9.3 billion, confirming both companies’ dominance in their respective industries. The news also confirmed that Vince McMahon will continue as Executive Chairman of the Board for WWE and the new company. Since the merger with UFC, McMahon’s majority voting control over his company has changed.
Voting Control and Shares
As reported by Wrestlenomics, following the WWE-UFC merger, Vince McMahon will no longer have majority voting control over WWE or other businesses inside the new organization. The report noted that he would possess 18.4% of all shares after the merger is completed.
Vince Russo’s Concerns
Wrestling veteran Vince Russo believes WWE would be less popular now if Mr. McMahon had to create all the characters himself. Vince Russo recalled on Sportskeeda Wrestling’s Writing with Russo that when McMahon bought WWE, he enlisted the services of huge performers from other regions. He feels that if Vince had created all the characters himself, the company would not be the behemoth it is now.
