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Historic Merger between WWE and UFC
Changes in Pro Wrestling Promotion Already Underway
Modified Sep 13, 2023 20:52 IST
Introduction
While it has not even been 24 hours since the historic merger between WWE and UFC, things have already started to change in the pro wrestling promotion.
Creation of TKO Group Holdings
WWE made the merger with UFC official on Tuesday, creating a new entity called TKO Group Holdings. This week’s edition of Monday Night RAW marked the final show of the Vince McMahon era, as the 78-year-old will no longer hold the majority of shares in the global juggernaut.
Changes in the Backstage Department
It had been speculated that there could be some changes in the backstage department once the takeover was official. A new report from Fightful Select has now noted that WWE CFO and President Franck Riddick III will be leaving the company at the end of this month.
The news source provided the internal memo Nick Khan sent out to brief several in the company about Riddick’s departure. It was also noted that Frank was bonused $5 million for the TKO deal.
“After over thirteen years on our Board of Directors and almost two years after joining WWE full time as our CFO and serving as President/CFO, Frank Riddick will be leaving the company post the TKO close at the end of this month. Frank is a highly respected colleague, and it has been a pleasure to work alongside him. We are grateful for his counsel, support and dedicated years of service and wish him only continued success moving forward.” – Nick Khan
Changes in TKO’s Board of Directors
Triple H will not be part of TKO’s new Board of Directors. However, The Game is still listed as the head of the creative department. Vince McMahon, meanwhile, will serve as the company’s Executive Chairman.
Unveiling of New Custom Championship Belt
A new custom championship belt was also unveiled to celebrate the historic merger. Click here to check it out.
Drew McIntyre’s Thoughts on CM Punk in WWE
Does Drew McIntyre want CM Punk in WWE? We asked him here.
Article Editing
Edited by Gurjyot Singh Dadial
