The contents of the letter that was sent by Vince McMahon to employees after the WWE sale have been revealed.
According to the Wrestling Observer Newsletter (subscription required), the contents of the letter were as follows:
“I’m excited to announce that WWE has entered into a partnership with Endeavor to create a one-of-a-kind company that will bring together two global sports and entertainment powerhouses: WWE and UFC.
“The historic alliance of these two formidable institutions has the potential to unlock vast growth opportunities for both organizations and generate opportunities for both organizations and generate an optimal outcome for our employees, shareholders, fans, and other stakeholders. We are huge admirers of the work Endeavor has done to grow the UFC brand, and they will be the perfect partner to help supercharge our growth at WWE.
“We are on the cusp of a new golden age for live sports entertainment, and by combining our two iconic and highly complementary properties under one roof, we will be able to fully capitalize on the rapidly expanding, global appetite for live sports events and premium content. We have some of the most engaged, passionate, and fast-growing fan bases in sports, and we are two of the only leagues capable of delivering content and events year-round.
“Together, we are a $21+ billion live sports and entertainment colossus with a collective fan base of more than two billion people — and counting. With our decades of combined experience, complementary expertise, and pooled resources, we intended to create and cross-promote more premium live and on-demand content around the world.
“As for how this impacts you, following the close of the transaction, we expect to continue to operate largely as we do now. Both WWE and UFC will become wholly owned subsidiaries of the new company but retain our separate brands, as well as our leadership teams and headquarters. I will serve as Executive Chairman of the Board, while Ari Emanuel will become the CEO of the new company and remain CEO of Endeavor. Mark Shapiro will become President of the new company and also retain his role as President of Endeavor. Nick Khan will serve as WWE President, and Dana White will continue in his role as UFC President. Paul Levesque will remain WWE’s chief content executive.
“As of now, we expect the transaction to conclude later this year. In the meantime, it is business as usual here, and this news has no immediate impact on your day-to-day roles or responsibilities.”
Meltzer would also report on the mandatory meeting held with employees, noting:
“The WWE staff in Stamford had a mandatory meeting where Nick Khan read the statement from Vince McMahon that the employees had gotten earlier in the day. Khan and Riddick led the meeting and Levesque was on speaker phone from Los Angeles where he was running Raw. Khan said that the Board of Directors voted unanimously to approve the deal over the weekend. Riddick noted that they were preparing SEC filings and hoped the deal would close by late this year, if not earlier.”
It was earlier reported that there would likely be layoffs under the Endeavor merger of UFC and WWE.
The Ademi LLP law firm is investigating World Wrestling Entertainment (WWE) over its transaction with Endeavor.
Mark Shapiro, the president of Endeavor, has spoken about how the acquisition of WWE and merging it with the UFC will be handled.
WrestleTalk readers can keep track of the emerging news of the WWE sale to Endeavor using this link.
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