Concerns have been raised about talent releases and employee layoffs following the announcement that WWE has agreed to be acquired by The Endeavour Group with the plan for WWE and UFC to unite to create a new publicly traded company.
Concerns have been raised about talent releases and employee layoffs following the announcement that WWE has agreed to be acquired by The Endeavour Group with the plan for WWE and UFC to unite to create a new publicly traded company.
Many people are concerned with the news of UFC and WWE emerging, as this might lead to some unexpected departures in players’ rosters as well as in the management also.
Endeavour COO Mark Shapiro stated that layoffs would occur because Endeavour already has staff in place that is capable of handling tasks at specific WWE divisions. Having two groups of individuals perform the same task does not make economic sense.
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According to the agreement, WWE shareholders would control the remaining 49% of the new combat sports and entertainment company, with Endeavour owning 51% of it. WWE is valued at $9.3 billion and Endeavor’s UFC is valued at $12.1 billion, according to a press release from the companies. Shares of WWE and Endeavour both fell on Monday morning. It is predicted that the agreement would be completed in the second half of 2023. WWE and UFC will be merged to create a $21 billion worldwide live sports and entertainment corporation.
There has been no leadership news known or disclosed to the media right now. But this new deal will allow the corporation to have eleven board members which Endeavour get to pick 6 members and WWE will get 5.
There is no confirmed information regarding the players or management getting layoff. It will be intriguing to see the pay scale of UFC fighters and the compensation of WWE wrestlers after the merger of these two giant wrestling organizations. WWE needs to make some policies to maintain their wrestlers interest. As the rivals organization keeps bringing new prospects for wrestlers. There’s no information about UFC accepting the compensation structure of WWE for the wrestlers as well as the management team members.
Both these industries are known for their brutal yet entertaining fights. Now it will be fun be see how this new chapter in the wrestling world unfolds in the future. There are some WWE wrestlers who fought in the Octagon as well as in the WWE arena like Ronda Rousey, Brock Lesnar, Nathan Jones, Alberto Del Rio, and Booby Leshley these are some o
f the names to have fought inside the Octagon. Don’t forget to check out other WWE news.
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