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Vince McMahon on Monday opened up concerning the WWE merger with UFC simply hours after WrestleMania 39 got here to an in depth, producing a gate $21.6 million over the two-day occasion.
However as professional wrestling followers tuned in to see what McMahon needed to say concerning the deal, many had been shocked to see McMahon sport a brand new look. The chief chairman of the brand new firm sported slicked-back brown hair and a mustache.
It was introduced Monday that Endeavor had signed an settlement with WWE to kind a brand new, publicly listed firm that may home UFC and WWE underneath one roof. (WWE by way of AP)
The mustachioed McMahon isn’t one thing wrestling followers have seen earlier than.
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Showing on CNBC, McMahon said it was the precise time to make a deal and promote to Endeavor Group Holdings — the dad or mum firm of UFC. A number of corporations have been rumored to be in talks with WWE about buying the enterprise — most notably Saudi Arabia’s Public Funding Fund.
“It is the precise time to do the precise factor. And it is the subsequent evolution of WWE,” he mentioned.
McMahon added: “It makes all of the sense on this planet for all these synergies that we now have to extract all the worth that we are able to out of {the marketplace}.”
The 77-year-old got here underneath fireplace final summer time of sexual misconduct allegations. WWE later mentioned it discovered some unrecorded expenses tied to McMahon. In line with the Wall Avenue Journal in January, he additionally settled with a former referee who accused him of rape.
McMahon addressed the controversy as nicely.
VINCE MCMAHON ADDRESSES WWE SALE, MISCONDUCT ALLEGATIONS
 WWE proprietor Vince McMahon celebrates throughout WrestleMania at AT&T Stadium. (Joe Camporeale-USA TODAY Sports activities)
“I’ve made errors, clearly, personally and professionally by means of my 50-year profession,” he mentioned, via Fightful. “I’ve owned as much as each single certainly one of them after which moved on. I am undecided of the legacy stuff. I am not going to put in writing it. I do not know. I wish to say, as somebody who had a unprecedented quantity of enjoyable, nice ardour for what they did and wound up with the largest deal (Endeavor CEO Ari Emmanuel’s) ever accomplished in his life.”
“This can be a uncommon alternative to create a worldwide reside sports activities and leisure pureplay constructed for the place the trade is headed,” Emanuel mentioned in a information launch. “This can be a uncommon alternative to create a worldwide reside sports activities and leisure pureplay constructed for the place the trade is headed.”
McMahon added, “Collectively, we can be a $21+ billion reside sports activities and leisure powerhouse with a collective fanbase of greater than a billion folks and an thrilling progress alternative. The brand new firm can be nicely positioned to maximise the worth of our mixed media rights, improve sponsorship monetization, develop new types of content material and pursue different strategic mergers and acquisitions to additional bolster our robust secure of manufacturers. I, together with the present WWE administration workforce, stay up for working intently with Ari and the Endeavor and UFC groups to take the companies to the subsequent stage.”
Apr 3, 2022; Arlington, TX, USA; WWE proprietor Vince McMahon enters the sector throughout WrestleMania at AT&T Stadium. (Joe Camporeale-USA TODAY Sports activities)
Emanuel will turn into the brand new CEO of the corporate and proceed his position as CEO of Endeavor. McMahon, who purchased WWE from his father in 1982 would be the govt chairman of the board. Mark Shapiro would be the chief working officer of the brand new firm and Endeavor. Nick Khan will function the president of WWE, and Dana White will proceed as president of UFC.
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McMahon, who retired final 12 months amid a sexual misconduct scandal, got here again to the corporate in January trying to promote the corporate. McMahon was later elected govt chairman. His daughter, Stephanie McMahon, had taken over alongside Khan as co-CEO when McMahon retired. Stephanie McMahon has since stepped down as chairwoman and co-CEO.
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