UFC-Endeavor Deal: Even without WWE in the mix, Endeavor Group has managed a startling rise in Q1 of 2023. The owners of the UFC recorded 19.1 per cent increase over the same period. Alongside UFC, the holding company also owns the Professional Bull Riders (PBR) and raked in revenue of US$353.3 million for the quarter, a rise of US$56.6 million year-over-year. Follow all UFC and WWE News and updates on Insidesport.IN
Endeavor’s growth was mainly fueled by the increase in media rights fees and sponsorships. Commercial PPV and event-related revenue at UFC furthered their rise in revenue. The company’s decision to stage an extra PPV event in the quarter and addition of more events with live audiences certainly helped them pick up the bucks.
Endeavor is to further get a boost with the acquisition of WWE announced last month. The company plans to merge WWE and UFC into one big company, known as TKO, with separate divisions keeping the two brands largely apart. They also plan to sell IMG Academy, for US$1.25 billion. In connection with that deal, Endeavor will also launch a US$300 million share repurchase. They will also clear US$50 million extra in debt.
Such has been the growth that Endeavor plans to roll out dividends to its shareholders. Quarterly cash dividends of up to US$25 million will be made, starting with the third fiscal quarter this year.
“We are excited about the unique opportunity the proposed combination of UFC and WWE presents. We remain focused on durable growth as we continue to execute our successful strategy in content and experiences,” said Ari Emanuel, Endeavor chief executive.
Endeavor meanwhile won’t be involved in the TV rights deal for WWE. Emmanuel revealed that it is a long road before the company takes control of WWE. The media rights for the WWE are being negotiated, with “WWE Raw” and “WWE SmackDown” expected to rake in massive raises.
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