CNBC's Alex Sherman is reporting that WWE is close to being sold to UFC parent company Endeavor.
Sherman reports that Vince McMahon is in "advanced talks" to sell WWE to Ari Emmanuel's company and a deal could be announced tomorrow (Monday).
It was also stated that both the UFC and WWE are expected to "form a new public company as part of the contract, according to the people, who asked not to be named due to the confidential nature of the discussions."
Endeavor would own 51% of the new combat sports and entertainment company and shareholders would own 49%. Additionally, Vince McMahon is expected to remain on board as chief executive of Endeavor and the new company.
Sherman wrote:
“Emanuel, a Hollywood super-agent, is expected to serve as chief executive of Endeavor and the new company. McMahon, likewise, is set to serve as executive chairman, while Endeavor President Mark Shapiro will also serve in the same role at the new company. Dana White will remain president of the UFC, while WWE CEO Nick Khan will serve as president of the wrestling business.”
News of the sale this week is in line with what Nick Khan said in February, when he said he expected to sell within a few months.
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