In July 2022, Vince McMahon retired as CEO of WWE amid sexual misconduct and hush money allegations. WWE Board of Directors launched an investigation at the time.
McMahon returned as the Chairman of the Board of Directors in January 2023, after the investigation wrapped up. McMahon's return coincided with WWE exploring "strategic alternatives," which included a possible sale, as media rights negotiations were coming up.
On April 3, it was announced that WWE and Endeavor had agreed to a transaction that would see WWE and UFC merge to form TKO. As part of the transaction, McMahon would stay on board as Executive Chairman of TKO.
"I don't think that was a deciding factor in this," WWE President Nick Khan told Bill Simmons when asked if Vince staying on board was part of his thought process i doing a deal with Endeavor as opposed to another company. "I think Vince approached it as, 'I want to make sure every shareholder is treated the same way I'm treated.' It was the Endeavor folks who asked him to stay in once the process was well underway and bids were in and all of those things, so it already felt it was going this way once multiple bids were in. They made the gracious offer and he accepted that position as executive chairman of the new company."
The merger between WWE and UFC to form TKO became official on September 12.
Fans can learn more about the deal, including the leadership structure, by clicking here.
Fans can find Fightful's coverage of the TKO merger by clicking here.
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