Endeavor CEO Ari Emanuel is set to become a major player in the world of sports empires. Endeavor and WWE announced their merger, forming a new company with a combined enterprise value of $21.4 billion. The new company will be listed on the New York Stock Exchange under the ticker symbol TKO, with Endeavor owning 51% and existing WWE shareholders controlling 49%. Emanuel will stay on as CEO of the new company. The UFC-WWE merger will place second on the list of the most valuable sports empires, behind Liberty Media and ahead of Kroenke Sports and Entertainment.
Liberty Media has controlling stakes in MLB’s Atlanta Braves and the Formula 1 racing circuit, as well as minority stakes in other sports-related assets. The enterprise value of Liberty Media has increased to more than $22 billion today due to the rising value of the Braves. Kroenke Sports and Entertainment has controlling stakes in NFL’s Los Angeles Rams, NHL’s Colorado Avalanche, NBA’s Denver Nuggets, and England’s soccer powerhouse Arsenal FC. The value of Rams and all NBA teams could see an increase depending on the size of the league’s next media deal.
The proposed valuation of $21.4 billion is subject to market fluctuations. The market will ultimately decide the enterprise value of the new UFC-WWE company. The merger between UFC and WWE will create a major player in the sports industry, and the market will be watching closely to see how this new company performs.