It was revealed last month that the WWE-UFC merger was expected to be finalized by “mid-to-late” September. Endeavor Group Holdings, Inc., UFC’s parent company, and WWE have said today that they expect their previously agreed deal to form a new sports and entertainment company, TKO Group Holdings, Inc., to close on September 12. TKO will begin trading on the New York Stock Exchange once the transaction is complete.

It was announced on April 3 — the day after WrestleMania 39 had concluded at SoFi Stadium in Los Angeles, California — that WWE and UFC would be merging under the Endeavor umbrella to create a company. 

Ari Emanuel, Endeavor’s CEO, and Vince McMahon, WWE’s Executive Chairman, discussed the deal with CNBC after it had been announced. McMahon said that the newly formed organization would become “a $21+ billion live sports and entertainment powerhouse.”

According to the agreement, McMahon is set to become the Executive Chairman of the new organization, while Nick Khan and Dana White will retain their respective roles as CEO of WWE and President of UFC. Emanuel will become CEO of TKO.

It was recently reported that there was a sense of “doom and gloom” among WWE employees regarding the impending WWE-UFC merger. It’s said that many are worried about potential cuts once the deal closes.

Source: Wrestling Inc.