By Cassandra Cousineau, LVSportsBiz.com UFC Writer
Las Vegas-based UFC and fellow entertainment powerhouse WWE have merged their live event teams into the newly formed TKO Live Events Strategy Team.
This consolidation aims to create “operational efficiencies” and enhance their live event offerings, continuing the integration that has been in progress since the announcement of the UFC-WWE merger last September.
“Demand for live sports and entertainment has never been stronger, and we believe our portfolio will continue to drive the growth of our business,” TKO Chief Financial Officer Andrew Schleimer said in a press release.
The Octagon to Ring Connection
The creation of this new live events team is the latest sign of the WWE and UFC connection.
Since the merger announcement, which ended Vince McMahon’s controversial 40-year reign, WWE and UFC have flaunted their new partnership. UFC fighter Michael Chandler’s staged call-out of Conor McGregor on WWE’s Monday Night Raw in February has resulted in the two facing off during UFC’s International Fight Week on June 29.
UFC President Dana White recently highlighted the collaborative vision for the future, saying, “You’re gonna see Friday Power Slap, Saturday UFC, and Sunday WWE.” This vision is already taking shape with UFC hosting an event in Louisville, Kentucky, June 8, and WWE producing its NXT Battleground inside UFC’s Apex venue on June 9—the first WWE event to be held at the Apex.
Leadership and Growth
Peter Dropick, a 20-year UFC veteran, has been promoted to executive vice president of Event Development and Operations for TKO.
He’ll be rubbing elbows with White, WWE Chief Content Officer Paul Levesque, UFC Chief Operating Officer Lawrence Epstein, WWE President Nick Khan, and Schleimer. This dream team is tasked with expanding their portfolio in both domestic and international markets.
Record-Breaking Success
TKO has already reported record revenue, with WrestleMania 40 alone generating over $38 million in ticket sales this past April. Potential for further growth under the unified TKO Live Events Strategy Team as Schleimer expressed the strategic vision behind this merger: “Our goal is to lead one of the strongest live events portfolios in all of sports and entertainment.”
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The Legacy of Outliers
Remember when WWE and UFC were the mavericks of the combat sports world? Once considered outliers, WWE and UFC have each carved out unique niches. WWE, with its scripted theatrics, and UFC, with its raw MMA combat sports promotion, have now combined forces to create a $21 billion live event entertainment operation.