Endeavor's Mark Shapiro talks about the acquisition of WWE.
WWE has entered into a $21 billion agreement to be sold to Endeavor as Endeavor plans to merge WWE and UFC into a new publicly traded company. Speaking about the move with the Sports Business Journal, Mark Shapiro, president of Endeavor, remarked that they plan on using the same Playbook they did when acquiring the UFC in 2016.
Shapiro noted that the opportunity to put Vince McMahon, Dana White, and Ari Emanuel together could create significant value for shareholders.
“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.”
Furthermore, Shapiro believes believing Endeavor will be able to grow WWE’s sponsorship, licensing, hospitality, and ticketing businesses. It can further develop stars through non-scripted shows, films, and commercial endorsements.
“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.”
During an interview discussing this sale, Vince McMahon addressed his legacy. Fans can read his comments at this link.
During WWE Raw, Triple H came to the ring to assure fans that everything was going to be just fine and that WWE was going nowhere. Learn more here.
