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The Art of Ari’s WWE Deal

Discussing deal points in a suite at Wrestlemania, a secret meeting at Raine, and an emotional pitch in Stamford: How Vince McMahon scored big and Endeavor took the next step in its leverage journey. Plus, some notes on CNN and Chris Licht 2.0.

Endeavor C.E.O. Ari Emanuel (pictured) and president Mark Shapiro’s emotional pitch to WWE leadership led to the deal.
Endeavor C.E.O. Ari Emanuel (pictured) and president Mark Shapiro’s emotional pitch to WWE leadership led to the deal. Photo: Chris Unger/Zuffa LLC
Dylan Byers
April 5, 2023

“Until Saturday, I didn’t even know we had this deal,” Mark Shapiro, the president and C.O.O. of Endeavor, told me today. Three weeks earlier, Shapiro and C.E.O. Ari Emanuel had placed a bid to acquire a majority stake in World Wrestling Entertainment, or WWE, the coveted live pseudo-sports asset that seemed like it could fit nicely into Endeavor’s portfolio, alongside its lucrative Ultimate Fighting business.