According to a report on Thursday from POST Wrestling, a newly released testimony in the form of the a deposition, reveals TKO’s Chief Financial Officer Mark Shapiro said that they did not feel keeping Vince McMahon in the mix as part of the WWE and UFC merger was necessary, “especially with all the baggage.”
That statement, however contradicts what was stated in WWE’s previous S-4 filing.
The previous S-4 filing noted to the public and to investors, that Endeavor strongly desired Vince McMahon and the talent agency which owned UFC gave WWE six extra percentage points of the combined company – worth around $1 billion in enterprise value on McMahon receiving a lifetime appointment as Executive Chairman, board nomination rights and veto power over certain transactions.
Soon after the $21 billion merger deal was finalized, WWE wrote in the S-4 regulatory filing that Endeavor and what was presumed to be the company’s CEO Ari Emanuel, had the belief McMahon’s continued leadership “would be critical to the value creation driving Endeavor’s desire to engage in the Potential Transaction.” The filing further stated McMahon “had not, and was not, requesting or proposing such rights.” Furthermore POST Wrestling adds that per WWE’s narrative, it guaranteed McMahon’s continued role was key to Endeavor agreeing to raise WWE’s split of the combined company from 43 percent to 49 percent.
The full report can be read at POST Wrestling.