In January, Vince McMahon shocked everyone by returning to the WWE board. McMahon made several changes to the board. He removed three directors and added George Barrios, and Michelle Wilson. McMahon was then elected as Executive Chairman of the company.
Last December, Vince McMahon informed the board that he is looking to sell the company. A few weeks ago, Bloomberg reported that McMahon’s asking price is $9 billion. They also noted that the investors from the Middle East and Endeavor Group Holdings Inc (UFC’s parent company) could be in line to buy the company.
Yesterday, UFC’s parent company Endeavor Group Holdings Inc held its fourth quarter of 2022 earning call. During it, the CEO of Endeavor Ari Emmanuel stated that they aren’t interested in purchasing World Wrestling Entertainment.
“As it relates to WWE, it’s an unbelievable product. Vince is an unbelievable…he’s created a great business. We’ve had a long standing relationship with them over two decades. We’re doing, as I indicated, the On Location business with them, The Endeavor Streaming with them. You know, his business is really valuable, but we’re not going to do anything as it relates to changing our leverage position right now.”H/T PWInsider
Emmanuel also noted that they are trying to de-leverage their debt. Therefore, he said that Endeavor Group doesn’t want to increase its debt by purchasing WWE for $9 billion.
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