Vince McMahon merged WWE and UFC for financial gain, but the move has left him with some questions about its future. Now his tenure as TKO’s Executive Chairman seems to be uncertain. In the context of recent events at Endeavor, a $21.4 billion firm, it seems likely that McMahon is losing control of WWE.
Ari Emanuel and Vince McMahon are now at odds with one another. The new company’s stock price dropped for a number of reasons and according to TKO’s CEO, one of which was McMahon’s involvement. The 78-year-old’s prominence in the sports entertainment firm has seemingly diminished.
TKO CEO holds Vince McMahon responsible
After Endeavor’s acquisition, Vince McMahon and Ari Emanuel have both stated their hope that McMahon will remain with WWE. McMahon is presently the Executive Chairman of the TKO Holdings Group, where he oversees the operations of TKO Holdings. He does not have absolute power, however, since his actions are subject to inspection.
There have been recent developments that point to McMahon’s possible departure from the multibillion-dollar corporation. According to information gathered at the Bloomberg Screentime Conference, Ari Emanuel blames McMahon in part for TKO’s falling stock price.
In addition to the Saudi Arabian investment in the PFL and NBCU’s reported withdrawal from the race for RAW’s rights, Emanuel cited McMahon’s current federal investigation relating to the hush money controversy as a possible cause of the TKO’s stock drop.
“I think there’s three things that happened: One, the reason the stock is down is they thought Raw was the best package, I saw a 40% increase which was in line with expectation which was good. Two, the PFL situation, and three, Vince (McMahon) in our deal wanted to be able to put, at any point in time, his stock. He’s 78 years old, he’s been working at this for decades and decades. So I think those three back-to-back issues”, Endeavor CEO said in the conference.
Ric Flair discusses McMahon’s WWE sale
Ric Flair, 16-time World Champion, spoke out against Vince McMahon’s decision to sell the business in a recent interview with PWinsider. Flair was under the impression that McMahon would never sell it, but he eventually did.
In addition, Flair praised the company’s stock performance and its continued success in the entertainment industry. He claimed that McMahon had raised the price tag by three billion dollars over what had been anticipated. As far as Flair is concerned, WWE is still the most entertaining product on the market.
Flair also made it clear that his past words were misunderstood. He has no interest in wrestling again and is in excellent physical condition. He had a scare with his health once, but he’s in great form now and says it was because he wasn’t drinking enough water.
Along with Ari Emanuel, do you also think that Vince McMahon is to blame for TKO’s price drop? And if so, why? Leave your feedback below.
