Move over Stan Kroenke. A new addition to the list of the world’s most valuable sports empires. Make room for Ari Emmanuel.

Endeavor and WWE announced Monday that they have agreed to merge UFC and WWE into a new company with a combined enterprise value of $21.4 billion. Listed on the New York Stock Exchange under the ticker symbol TKO, Endeavor owns 51% and his existing WWE shareholders control his 49%. Endeavor CEO Emmanuel will stay on to lead the new company.

The marriage of UFC and WWE is second only to Liberty Media and second only to Kroenke Sports and Entertainment among the most valuable sports empires.

Sports-related assets include management stakes in MLB’s Atlanta Braves and Formula 1 racing circuit, drone racing league, minority stakes in Kroenke Arena Co., Meyer Shank Racing and Overtime Sports. billion dollars. That number has increased to more than $22 billion today as the Braves’ worth last month saw him hit $2.6 billion in his MLB worth. Additionally, Formula 1’s enterprise value has increased by 6% to $18 billion since the last imperial list.

As for Kroenke, his main sports assets are managing stakes in NFL’s Los Angeles Rams, NHL’s Colorado Avalanche, NBA’s Denver Nuggets, English football powerhouse Arsenal FC, and Altitude Sports and Entertainment. The pending sale of the Washington Commanders could boost the value of the Rams, and the value of all NBA teams could increase depending on the size of the league’s next media deal, so these changes either may rise. Acquiring Kroenke Sports and Entertainment and closing the valuation gap with his new tie-up between UFC and WWE.

The $21.4 billion is just a suggested valuation. Of course, ultimately the market will determine the corporate value of the new UFC-WWE company.

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