The UFC’s parent company, Endeavour Group, set to sell Florida’s IMG Academy
UFC parent company Endeavour Group Holdings announced on Tuesday (April 25) that it would sell IMG Academy, a residential sports-training programme, to the Asian arm of private equity firm EQT for US$1.25 billion in an all-cash transaction.
Two of the biggest names in wrestling and entertainment have joined forces in a new publicly listed company. The transaction comes only days after Endeavor’s UFC announced it would merge with World Wrestling Entertainment.
The partnership between IMG Academy and EQT portfolio business Nord Anglia Education will bring world-class education to students in 33 nations, according to a report by The Business Times.
Venus Williams, Serena Williams, and Andre Agassi are just a few of the famous athletes that got their start at the institution.
BPEA EQT, the acquirer, has expressed interest in the academy’s plans to expand its educational offerings and its international presence, particularly in Asia.
IMG Academy in Florida is a 600-acre facility where they train athletes and also offer online instruction and help with recruitment. In 2022, it helped more than 30,000 people get on college sports teams.
WWE tipped to make at least $50 million in aggressive cuts following UFC merger
In a historic move, WWE and UFC merged for a whopping $21.4 Billion. The merger has sparked concerns about job cuts in the wrestling industry, which has exploded in popularity around the world in recent decades.
Mark Shapiro, COO of Endeavor, discussed strategies for reducing expenses and hiring top personnel.
According to Shapiro, these include human resources, finance, legal, communications, production, distribution, and marketing.
According to a report by News18, Shapiro hinted at layoffs, stating:
“Anything from H.R. to finance to legal to communications production to distribution and marketing. Across every area, you’re going to find cost synergies. You’re going to integrate and ultimately highlight and appoint the best and brightest teams.”
It has been estimated that UFC is worth roughly $12.1 billion, while WWE is worth around $9.3 billion. The proprietors of the Ultimate Fighting Championship (UFC), Endeavor Group Holding Inc., will possess 51% of the business, with WWE shareholders owning the remaining 49%.
The WWE and the UFC will be merged into a single publicly traded entity called TKO. Since Endeavor’s acquisition, UFC stock prices have gone up steadily as well. When Endeavor acquired the UFC in 2016, Shapiro predicted that the firm will follow the same model with WWE.
Vince McMahon, 77, returned to his post as chairman of WWE after taking a leave of absence in the wake of sexual misconduct allegations made against him by female performers. Many wrestling fans now believe McMahon should be fired because of the cover-up hush money he gave the wrestlers for their quiet.
According to insiders at the firm, McMahon’s future at Endeavor was a hot topic of discussion amongst fans.
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