WWE: Endeavor Deal Expected to Close Next Week, LA Knight Contract Update, WWE Touts Payback 2023

Sep 7, 2023

WWE’s Sale to Endeavor Expected to Close Next Week

As noted before, Endeavor, parent company of UFC, is currently in the process of finalizing their purchase of WWE. As part of the terms of the deal, WWE and UFC will be merging into a new company called TKO Group.

Endeavor and WWE released a joint official statement earlier today announcing that WWE’s sale deal with Endeavor and merger with UFC is currently expected to be completed on September 12th.

Official press release:

Endeavor and WWE® Deal to Create TKO Group Holdings Expected to Close September 12
Upon close, TKO will list on New York Stock Exchange, begin public trading
BEVERLY HILLS, Calif. & STAMFORD, Conn.–(BUSINESS WIRE)–Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (NYSE: WWE) (“WWE”) today announced they expect to close the previously announced transaction to form TKO Group Holdings, Inc. (“TKO”) on September 12, 2023, at which time TKO will begin trading on the New York Stock Exchange under the ticker symbol “TKO”.

LA Knight Reportedly Finalizing New Long-term WWE Contract

LA Knight reportedly has been in recent negotiations with WWE for a new contract with the company, according to PWInsider.

Mike Johnson reported that his sources stated that Knight’s new contract is currently believed to either be in the finalizing stage or has already been signed. Some of those spoken to reportedly stated that they currently believe that Knight’s new long-term contract is for up to five years in length.

WWE Announces Payback 2023 Broke Several All-Time Payback Records

WWE recently announced that this past Saturday’s Payback 2023 event at the PPG Paints Arena in Pittsburgh, Pennsylvania broke several all-time records in Payback series history.

It was announced that this year’s event broke the record for most watched and highest grossing Payback event in WWE history.

Official press release:

WWE^® PAYBACK DELIVERS RECORDS FOR VIEWERSHIP, GATE & MERCHANDISE
STAMFORD, Conn., September 5, 2023 – WWE^® (NYSE: WWE) today announced that Payback, which emanated from PPG Paints Arena in Pittsburgh, became the most-watched and highest-grossing Payback in company history. The premium live event set new records for viewership, gate and merchandise.
Viewership of Payback was up 36 percent versus the previous record set in 2016. With 12,468 in attendance, it marked the largest gate ever for any Payback, up 13 percent versus the prior record set in Chicago in 2016. Payback also became the highest-grossing WWE event ever held in Pittsburgh.
In addition, Payback broke the all-time event merchandise record. In partnership with special event retail partner Fanatics, merchandise sales were up 182 percent versus the previous record set in 2017.
2023 Payback was also the most-viewed social Payback of all time with a combined 146 million social views, up 44 percent from the previous record set in 2020. The most-viewed moment across social platforms was Cody Rhodes announcing Jey Uso would be joining the Monday Night Raw roster which generated more than seven million social views across all platforms in one day.