Fighting game UFC, wrestling WWE, and the power game lose
Mixed martial arts’ biggest organization, the UFC, has lost an internal power struggle to professional wrestling’s top company, WWE, which has become a sibling entity.
TKO Group Holdings, formed from the merger of UFC parent company Zuffa and WWE, went public on the New York Stock Exchange on Sept. 13.
Zuffa sold an 81% stake in the UFC to media agency Endeavor in 2016. Endeavor retained a 51% stake in TKO. UFC and WWE are now part of TKO’s business.
UFC president Dana White, who has been running the organization for 23 years, is still credited with a 9% stake after Zuffer’s move to Endeavor. However, he was left off the list of 11 founding board members that TKO filed with the New York Stock Exchange. 소닉카지노
The TKO board is comprised of a 6:5 Endeavor to 5 WWE ratio. WWE founder Vince McMahon and chairman Nick Khan joined TKO’s board, but no one from the UFC was among Endeavor’s six nominees.
In a filing with the New York Stock Exchange, McMahon is listed alongside Endeavor CEO Ari Immanuel as a founder of TKO. McMahon is also the only member of TKO with a personal stake.
While Endeavor is the largest shareholder, it’s safe to say that Vince McMahon, who holds a 34% stake in the company, is TKO’s number one power person.
TKO announced that UFC President Dana White will serve as CEO. This means that he will not only oversee the organization, but also manage and run it.
However, Dana White is not a member of TKO’s board of directors and his role is limited to the UFC. The UFC’s influence over the parent company’s affairs is likely to be much less than WWE’s.