Pro Wrestling at this moment in time is at its hottest level, probably, ever.
The last 12 months have been absolutely crazy. The power struggle at WWE unfolding is remarkable. Vince was forced out of his own company but remarkably, sold the company he was forced out of to Endevaour, and actually made himself more powerful by becoming a high ranking board member of the pending new company.
The impending sale of WWE to Endeavor Group Holdings is under investigation.
Felix Upton of Ringside News noted Tuesday that Ademi LLP, a law firm that specializes in shareholder litigation, announced it is looking into whether WWE’s board of directors obtained a fair and reasonable price in the sale process.
Upton shared the news release:
“Ademi LLP alleges WWE’s financial outlook and prospects are excellent and yet the transaction values WWE’s shares at only approximately $106 per share (before any post-closing dividend) with Endeavor holding a 51% controlling interest in the new company and existing WWE shareholders holding a 49% interest in the new company. The transaction agreement unreasonably limits competing bids for WWE by imposing a significant penalty if WWE accepts a superior bid. WWE insiders will receive substantial benefits as part of change of control arrangements.
“We are investigating the conduct of WWE’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for WWE.”
Jordan Valinsky of CNN reported Monday that WWE’s merger with Endeavor Group, which is the parent company of the UFC, valued the UFC at $12.1 billion and WWE at $9.3 billion. After the deal, Endeavor shareholders would own 51 percent of the new company with the other 49 percent belonging to WWE shareholders.
Vince McMahon would also remain the executive chairman.
Valinsky noted that WWE shares fell almost 10 percent in early trading after news of the deal broke.
Source – BleacherReport
Triple H is head of creative control at WWE but looks like Vince’s power and say is back.
They are continuing the Bloodline storyline when perhaps it should have ended at WrestleMania. However, maybe continuing it won’t be so bad. Fans are upset in the meantime but interest is there to see where they go with it.
AEW is at a crucial point in its history where they have a chance to gain interest from a lot of WWE fans. Tony Khan has an important announcement tonight on Dynamite. Tony makes a lot of them but I am assuming tonight will be a big one because if not, then it’s a really silly move.
Following the business aspect of pro wrestling is becoming a daily routine and I think it’s really exciting. I also think its a point where more ‘realism’ is trying to play a part when it comes to it being a sport. Each year more and more content on pro wrestling is being covered by sports channels as if it’s a competitive sport.
The world of pro wrestling is at its hottest level ever.