Tag: TKO

WOL Saturday: New court documents focus more on Vince McMahon’s alleged misconduct than valuation & revenue

Posted on by Jim Valley

It’s the Saturday Wrestling Observer Live with Jim Valley.

Are Janel Grant and her accusations ultimately responsible for the TKO merger of Zuffa and WWE? That appears to be at the heart of the case made by the plaintiffs in the WWE shareholders’ lawsuit. Documents made public for the first time offer insight into events surrounding the merger and the opening arguments for attorneys representing WWE shareholders.

While the trial that was scheduled to start Monday is now off the calendar, thousands of pages of depositions, text conversations, and other documents unsealed before trial offer a window into how the deal allegedly came together.

On this episode, I will try to explain why the lawsuit is, or was, about more about behavior than numbers, stocks and balance sheets.

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WWE shareholder lawsuit trial canceled, removed from court schedule

Posted on by Bryan Rose

Update:

Brandon Thurston of Post Wrestling is reporting that the trial has been canceled, with no further details currently avaliable.

“The WWE merger trial has been cancelled, Court Administrator for the Delaware Court of Chancery Tamara Burton confirmed to me this evening,” Thurston wrote on social media Saturday. “We haven’t confirmed whether a settlement has been agreed to or is being worked on. The trial was previously scheduled to start on Monday.”

Original story:

The trial for the WWE shareholder lawsuit seems to be in flux.

According to Bloomberg, attorney Greg Varallo, who represents the shareholders, said that the four-day trial that was planned to start this Monday was no longer on the Delaware Chancery Court’s calendar. What specifically led to the case being removed from the court’s schedule isn’t currently known.

The trial was to feature testimony from Vince McMahon, Nick Khan, Paul Levesque, Ari Emanuel, and Mark Shapiro among others involved in the deal.

Shareholders accuse McMahon of not seeking the best deal

In the lawsuit, shareholders allege that the process to merge WWE and UFC to form TKO under parent company Endeavor was designed by McMahon in order for himself to retain power within WWE. Because of that, shareholders felt that McMahon didn’t seek out the best potential value of a WWE sale.

Last month, defendants were dealt a blow when a judge ruled that McMahon and Khan “acted recklessly” by using the messaging app Signal to discuss information while adjusting their auto-delete settings so messages would delete after a short period of time.

Donald Trump purchased TKO stock in March ahead of June UFC event

Posted on by Josh Nason

U.S. President Donald Trump purchased between $15,000 – $50,000 in TKO stock in March, months ahead of the high-profile UFC event outside the White House on his birthday.

First noted by the Huffington Post, Trump bought the stock on March 25 according to a May 12 disclosure filing.

The June 14 event, dubbed UFC Freedom 250, will be held on the South lawn of the White House with an estimated 4000 in attendance (2900 White House/TKO guests and 1100 military members and their families), according to TKO COO Mark Shapiro on a recent investors call. WWE talent will take part in a fan fest prior to the show.

Given the relationship between Trump and TKO, namely his longtime friendships with UFC president Dana White and former WWE head Vince McMahon, the transaction has raised some eyebrows as has been the case with many of his financial transactions during his second term.

The outlet, and others, have noted his proclivity toward “purchasing stocks in companies ahead of actions by his own administration favorable to those same companies” while also stating that White House officials claim his financial advisors handle all decisions and not him.

Trump’s cabinet includes longtime friend and former WWE executive Linda McMahon as Secretary of Education and Robert F. Kennedy as Secretary of the U.S. Department of Health and Human Services, notable as his niece is now under a WWE contract. Current WWE CCO Paul Levesque is a member of the President’s Council on Sports, Fitness and Nutrition.

Vince McMahon, Triple H & other TKO executives to testify in WWE shareholder trial

Posted on by Josh Nason

With the WWE shareholder trial set to begin on June 8, the list of witnesses that will testify is a notable one.

First reported by Post Wrestling’s Brandon Thurston, Vince McMahon, Nick Khan, Paul Levesque, Ari Emanuel, Mark Shapiro and others will be testifying in the trial that begins next month in Delaware.

The lawsuit was filed by a group of WWE shareholders who feel the process to merge WWE with UFC to create TKO was a predetermined process designed by McMahon to keep himself in power. The shareholders feel that because of that, they didn’t get the full potential value of a WWE sale.

McMahon was in power until January 2024 when the Janel Grant lawsuit was filed, resulting in him resigning.

Other notable witnesses include former WWE executives and Board members George Barrios, Michelle Wilson and Frank Riddick, former WWE Board member Steve Koonin, banker Jeff Sine who advised WWE in making the deal, TKO CFO Andrew Schleimer and TKO chief strategy officer Mark Zhu.

Some witnesses will appear live while others may appear via video or via pre-recorded deposition testimony like former WWE Board members, Stephanie McMahon, Jeffrey Speed and Steve Pamon.

Liberty Media CEO Marty Patterson is also on the witness list as the company was among those bidding for WWE.

It remains a possibility the lawsuit will be settled pre-trial or even after it starts.

TKO’s Ari Emanuel, Mark Shapiro joining ownership group of notable NFL team

Posted on by Josh Nason

The NFL’s Las Vegas Raiders have two new minority shareholders as TKO’s Ari Emanuel and Mark Shapiro will soon join the team.

Reported by Variety on Tuesday, Emanuel (TKO CEO) and Shapiro (TKO president and COO) will “take individual, personal stakes” in the Raiders, making them minority owners, joining Dell Technologies’ founder Michael Dell and Blackstone global head of private equity Joseph Baratta. Two other minority investors have also increased their stakes. NFL legend Tom Brady is famously part of the ownership group, led by Mark Davis, son of the also legendary Al Davis.

Following the expected close of the deal later this month, Emanuel will own 1.4% of the Raiders while Shapiro will own .06%. At a total team valuation of $9.9 billion, Emanuel’s stake could be in the neighborhood of $139 million with Shapiro’s stake at an estimated $5.94 million.

Emanuel brought in $67.4 million last year from TKO while Shapiro took home $42.6 million. Shapiro is also a minority owner for the Los Angeles franchise in Major League Soccer with both men having extensive ties to the NFL. TKO’s On Location is the exclusive hospitality provider of the NFL.

The Raiders play at Allegiant Stadium, home of the last two WWE WrestleManias with TKO having a significant presence in the city with the UFC headquartered there. The team was established in 1960 in the American Football League before joining the NFL in 1970. Before moving to Las Vegas, they spent time in both Los Angeles and Oakland.

TKO exec addresses UFC passing on Ronda Rousey vs. Gina Carano: ‘More of a stunt than a meaningful MMA event’

Posted on by Josh Nason

TKO head Mark Shapiro is now on the record regarding why the UFC passed on the Ronda Rousey vs. Gina Carano fight that aired on Netflix this past Saturday.

Speaking at the JP Morgan Global Technology, Media and Communications Conference Monday, Shapiro said the reason UFC passed on Ronda Rousey vs. Gina Carano was it “more of a stunt than a meaningful MMA event” and one he thought wasn’t good for the sport after how it played out.

“(Netflix) wants big spectacle events and they saw this as a big spectacle event. We’re in the true MMA business on a meaningful, consistent basis. When we looked at this potential matchup, keep in mind there’s a real art and skill to matchmaking….The answers (he & Ari Emanuel) got back (from Dana White & Hunter Campbell) were that fight will be over in 20 seconds,” he said.

“I don’t believe a fight like that, just the way it played out, is really good for MMA especially because it’s Netflix and such an incredible global audience…that is going to sample, depending on what comes up on the front page, to go to that fight and think that’s what MMA is, I don’t believe is good for the sport long term. “We saw it that way and decided to pass on it,” while adding he didn’t want to take anything away from Rousey, her win, or the viewers the broadcast got.

There wasn’t much in the way of WWE news coming out of the 30-minute conversation other than Shapiro putting over ESPN in how they are promoting PLEs and that they are looking forward to when YouTubeTV finishes their authentication process with ESPN Unlimited. That was reported as hopefully being completed in August or September.

He did say that “We’ve added some cards for NXT because we we think have a couple stars that are about to pop and we want to give them more stage time, if you will.” Based on last week’s announcement about WWE house shows returning this summer, it appears more than likely he meant young talent called up from NXT that need more in-ring work on the main roster, hence the house shows.

TKO remains bullish on the Middle East for events, saying their partners want more events and “want to show the world they are still open for business.”

He talked about how title fights on UFC numbered events make them distinct from Fight Nights, signaling to consumers that it’s “something different” and that Paramount’s ad spends reflect that as well. When it comes to the PPV era, he said, “We’re past that” and want to be accessible to the broadest audience possible.

They are continuing to plan for UFC Freedom 250 and how it will be a big week for them with corporate partners and such. Attendance is going to be at 4000 people: 2900 White House and TKO guests and 1100 military members and their families. He did point out that U.S. president Donald Trump is a WWE Hall of Famer.

Overall, they are looking to get to $400 million in TKO site fees (what they call financial incentive packages”) due to a “pretty clear-cut strategy” in that they have premium content that is in demand and that “there needs to be government and private financial incentives that reflect the economic and cultural impact we bring to these cities and regions.”

WWE stars announced to attend UFC Freedom 250 weekend 

Posted on by Rosanne Raphael

WWE stars will be present for a meet and greet at UFC Fan Fest in June. 

UFC officially made the announcement via social media for Fan Fest on June 13 and 14 at the White House. The experience includes meet and greet with UFC fighters and WWE superstars. The names of the talents making an appearance remain unannounced. 

UFC and WWE share the same parent company with TKO Holdings. UFC fighters have attended WWE programs with ringside seats in the audience but no crossover of the two has ever transpired under the TKO banner. 

UFC Freedom 250 will take place on the South Lawn of the White House on June 14. 

The match card features: 

  • Lightweight Championship Bout: Ilia Topuria vs. Justin Gaethje
  • Heavyweight Interim Championship Bout: Alex Pereira vs. Ciryl Gane
  • Bantamweight Bout: Sean O’Malley vs. Aiemann Zahabi
  • Lightweight Bout: Maurício Ruffy vs. Michael Chandler
  • Middleweight Bout: Bo Nickal vs. Kyle Daukaus
  • Featherweight Bout: Diego Lopes vs. Steve Garcia
  • Heavyweight Bout: Josh Hokit vs. Derrick Lewis

Kevin Nash says WWE wrestler who took pay cut still making ‘huge money’

Posted on by Joseph Currier

Kevin Nash can understand why at least one WWE wrestler was willing to take a drastic pay cut.

Along with making significant roster cuts after WrestleMania, WWE/TKO approached some wrestlers about restructuring their contracts for less money in lieu of getting released. Exactly how many people were approached is not known, and the identity of anyone who accepted the pay decrease has not been revealed. it is known that The New Day’s Kofi Kingston & Xavier Woods declined the offer and chose to depart WWE instead.

Some wrestlers are rumored to have accepted a 50 percent pay cut. But even with that, Nash says he’s heard of one affected wrestler who is still making “huge money.” Nash could not believe how much that person was originally making.

“I’ve got enough moles in the business where — I mean, I know the people that took 50 percent cuts,” Nash said on his Kliq This podcast. “I know one of the guys, and when I found out what the person was making, and after I just picked myself up off the ground that he was making that much money, and then realized that even at 50 percent, he was making huge money.”

Kevin Nash’s criticism of TKO —

Nash made headlines last week when he called for TKO to stay out of creative and let Paul “Triple H” Levesque do his job. On this Kliq This episode, Nash clarified that Levesque did not tell him that TKO was interfering with the creative process. Despite being close friends, Nash and Levesque do not discuss insider business like that.

“One thing Paul and I have never done is we have never talked business. Like, I could not call or text him and say, ‘Hey, what’s going on? Are they f***ing [with you]?’ He would never,” Nash said. “Because that’s our deal. Because that takes away the trust that he has with the people he works for. So that’s always been — it’s none of my business. It’s none of my business who’s involved in Paul’s everyday life that he works with.

“Paul’s a big boy. Paul can take care of himself. I just had heard some things, and I don’t know. Maybe I got pissed off last week. Maybe it was just because I did a lot of driving. Maybe I thought I was a wrestler again. Maybe being in a different hotel five nights in a row in a minivan, putting f***ing heavy ass bags in the back triggered some post-traumatic stress that I was holding out for during the 30-year run.”

Nash also said that Ari Emanuel, the head of TKO, has always been great to him in their personal interactions. Nash does not know any of the other TKO executives.

“The only person I’ve ever met from TKO is Ari. He’s the only one that I’ve ever met,” Nash said. “And he was such a gentleman. He came up, he shook my hand. I’ve never been treated better by anyone in management than the way he treated me. He just said, ‘If there’s anything I could do for you, blah, blah, blah, blah.’ And every time I’ve seen him since — he’s the only person I know. He’s the only one. So the other two cats, I don’t know them. I just wanted to lash out at somebody, so they, I don’t know them, you know?”

As a WWE Hall of Famer with acting experience, Nash has called for pro wrestlers to become union members by joining the Screen Actors Guild. Political figure Andrew Yang sent out a tweet last week supporting that call.

Judge rules against McMahons, allows ring boy plaintiffs to stay anonymous for now

Posted on by Joseph Currier

For at least the pre-trial period, plaintiffs in the ongoing lawsuit related to WWE’s ring boy scandal will be allowed to stay anonymous.

Post Wrestling reports that James K. Bredar, a federal judge in Maryland, is allowing the ring boy plaintiffs to maintain their “John Doe” pseudonyms, rejecting efforts from Vince McMahon and Linda McMahon to have their names publicly revealed. The ruling will hold for the pre-trial period but could change once the lawsuit goes to trial.

The lawsuit was first filed in 2024 and lists the two McMahons, WWE, and TKO as defendants. WWE and TKO did not take a stance on whether the plaintiffs should be forced to have their names revealed.

This lawsuit concerns WWE’s ring boy scandal of the 1980s/1990s, where former ring announcer Mel Phillips is accused of having recruited teenagers to the ring crew for the purpose of sexually abusing them. One of the plaintiffs is also claiming to have been abused by Pat Patterson. Phillips and Patterson passed away in 2012 and 2020.

Vince McMahon, Linda McMahon, WWE, and TKO are being sued for negligence over their handling of the scandal and not protecting the ring boys from being abused.

There are eight plaintiffs involved in the lawsuit. In this matter, they argued that revealing their identities would “re-traumatize” them by publicly exposing the abuse they endured and even revealing it to people in their lives they have not told. Their identities are known to the defendants who are being sued.

Correction on TKO/Arizona deal for WWE events

Posted on by F4W Staff

Update —

Arizona Sports & Events Alliance has reached out to us to clarify that our original report is incorrect.

“While I was told the TKO/Arizona deal involved Survivor Series, Royal Rumble and SNME, a source with the Arizona Sports & Events Alliance said today that this report is inaccurate,” our Bryan Alvarez writes.

***********

Original report —

More info on TKO’s new deal with Arizona.

WWE’s parent company alongside the Arizona Sports & Event Alliance announced on Tuesday that they will bring seven events to the state that will include WWE, UFC, Zuffa Boxing, and Professional Bull Riding. Bryan Alvarez has some new details regarding what WWE would be bringing to the table in the deal.

“The new Phoenix agreement is for a Survivor Series, Royal Rumble, and Saturday Night’s Main Event,” he writes.

WWE currently only has their event schedule set through Money in the Bank, which takes place on September 6 in New Orleans. They have yet to reveal locations for this year’s Survivor Series or the 2027 Royal Rumble.

Significant shows held in Arizona

Some prominent shows held in Arizona in the past include WrestleMania XXVI at State Farm Stadium back in 2010, which had the infamous second and final match between Shawn Michaels and The Undertaker. It was also home to the 2019 Royal Rumble at Chase Field that saw Becky Lynch and Seth Rollins win that year’s Rumble matches.

UFC has also run events in Arizona, including UFC 274 back in May 2022 at the Footprint Center that saw Charles Oliveira defeat Justin Gaethje to retain the UFC lightweight title.

TKO announces new multi-year deal in Arizona for WWE, UFC, Zuffa boxing & PBR events

Posted on by Josh Nason

TKO — the parent company of WWE, UFC, Zuffa Boxing and Professional Bull Riding — announced a multi-year deal with the Arizona Sports & Events Alliance on Tuesday that will bring seven events to the state.

No further information was announced in terms of what events, when they could begin to take place or even where they could be held. No financials were disclosed to this point either.

For those perhaps looking ahead at potential WWE PLEs being held in a stadium or baseball park, WWE held the Royal Rumble at Chase Field in 2019 with 2010’s WrestleMania XXVI held at what is now known as State Farm Stadium in 2010. Several events have been held at indoor venues as well. UFC has also held events at the Footprint Center like UFC 274 in May 2022.

The agreement is the latest in TKO’s effort to secure guaranteed site fees and financial incentives (what TKO head Mark Shapiro recently coined as financial incentive packages) from municipalities for bringing their various events to town.

Kevin Nash addresses TKO’s involvement in WWE decisions: ‘Get your f*cking noses out of creative’

Posted on by Rosanne Raphael

Kevin Nash talked about TKO’s involvement in WWE’s creative decisions while having an experienced personality like Triple H in charge. 

On the latest episode of the Kliq THIS Podcast, Nash addressed TKO taking over creative decisions despite Triple H having control. He claimed their involvement was unnecessary with Triple H, a veteran of the industry, at the helm. 

“Levesque takes over and everybody loves the direction that this Levesque guy is carrying the new flagship WWE program into the Netflix era. And then lo and behold, like every other business on earth, the f*cking guys above him that don’t have a f*cking clue besides get paid more, higher up on the food chain decide to start sticking their d*cks where they don’t need to. ‘We’re going to throw this guy in. Let’s put this guy in. How about him in the main event? What if we throw this guy in? Why would we throw that guy in?’We got a $500 million deal that this guy is locked into. While we’re at it, let’s make the arena look like a NASCAR.’” 

“It doesn’t take anything away from Paul Levesque, because Paul Levesque still knows what the f*ck he’s doing. If anybody out there seems to be, maybe thinks this might apply to them, how about leaving the f*cking company alone? Get your f*cking noses out of creative.”

Triple H assumed creative control in WWE in 2022. Last month, TKO President and COO Mark Shapiro claimed that they were in full control of WWE creative. WWE’s storylines and feuds in recent years sparked widespread backlash and criticism from fans and veterans of the industry. 

May 11, 2026 Observer Newsletter: The life & times of Ted Turner, New Day depart WWE, TKO addresses criticism, Backlash preview

Posted on by F4W Staff

Dave Meltzer has returned with another packed issue of the Wrestling Observer Newsletter.

He began by writing a lengthy obituary of Ted Turner, the massively influential media figure that was also a key historical figure when it comes to pro wrestling, who passed away this week.

Dave also covered more exits from WWE including The New Day’s Kofi Kingston and Xavier Woods, others asked to take pay cuts, and the current situation with the roster.

He also looks at this week’s TKO earnings report, WWE and UFC revenue, key quotes from the investors call, and Nick Khan getting a new contract.

There’s also news from all around the wrestling world like in AEW, NJPW, CMLL, AAA, and beyond.

Click here to read (sub needed)

TKO exec says ‘there will always be periodic fan dissatisfaction’ around WWE creative execution

Posted on by Josh Nason

During Wednesday’s investors call to discuss the robust TKO financials from the first quarter of the year, company head Mark Shapiro both acknowledged and went on the offensive around the narrative regarding creative around WWE WrestleMania 42.

Shapiro addressed that narrative and discussion during his portion of pre-recorded remarks on the call, followed by a question later in the Q&A portion where he went further into his thoughts.

In the pre-recorded portion, he said TKO has fielded investor questions “about WWE demand and the state of creative, driven by online commentary and the year-over-year WrestleMania ticket sales performance,” saying they weren’t concerned about the sales as it was “unrealistic” to expect WrestleMania 42 to surpass what 41 did.

“As it relates to the creative, there will always be periodic fan dissatisfaction around creative execution, commercial load, and celebrity usage. We listen to all the feedback. We do not turn a deaf ear, but these are not new criticisms,” he said.

During the call, he did not mention, nor was he asked, about how the ticket sales story was brought into WWE creative by Pat McAfee who was one of the celebrities grumbled about on social media.

Later on the the call when asked about creative again, Shapiro said, “We take any and all feedback, especially from our core fanbase….extremely serious, high priority. We listen, we learn. At the same time, balancing the fan experience…with the business of sports is never easy whether you’re talking ticket prices or commercial integration. It’s as old as time and crosses genres.”

At last month’s WrestleMania 42, fans watching at home were deluged with ads throughout both nights of the broadcast, amplified by frustrations with match time.

Shapiro made comparisons about rising prices at the movies, increasing ads on ESPN from one to two minutes on SportsCenter, NBA sponsorship patches, naming rights on the Dodgers Stadium field, and ad breaks for major sports events as things fans have complained about in the past and eventually, learned to live with.

“Change takes getting used to,” he said, adding that WWE is “truly new to commercial integration and sponsorship” and that “change will be more glaring for some as we inevitably commercially integrate.”

He said there will be trial and error with their approach and that they have experimented thus far, pushing boundaries with some events while pulling back from others. He reiterated that with WWE or UFC, “our product comes first” and that marketers want to reach their young, unique, hard to reach and super passionate fan base.

“Remember this: our audience is resilient. We don’t take it for granted. It doesn’t mean we can do whatever we want to do, absolutely not, quite the contrary. But, it is resilient. Currently, we are experiencing record attendance, record viewership, and record engagement,” he said.

Shapiro, someone who appears frequently at major events and is a public face for the company, earned $42.6 million in 2025, according to public records.

WWE & UFC revenue up big in TKO quarterly report, creative criticism addressed

Posted on by Josh Nason

WWE & UFC continue to perform for TKO in yet another big quarter for the combat sports and hospitality buoyed company.

TKO announced their financials Wednesday ahead of their 5 PM Eastern investors call, the notes of which can be found below.

TKO’s total revenues increased to $1.597 year over year (YOY), powered by WWE’s $475.7 million (up $84.2 YOY) and UFC’s $401.2 million (up $41.5 million). IMG/On Location was the biggest performer of them all, seeing an increase of $179.1 million to $655.4 million YOY thanks to the 2026 Winter Olympics.

*****

Specifically for WWE, the first quarter saw them take in $281.7 million in media rights, $123.5 million in live events and hospitality, $26.2 million in partnerships & marketing, and $44.3 million in consumer products & licensing.

The live events & hospitality segment saw the biggest increase YOY, followed by media rights. The driver was the Royal Rumble being held in Saudi Arabia.

Of note, legal costs increased to $23.2 million, up from $6.5 million in Q1 of 2025. The reason, among others, are “costs, net of insurance recoveries, related to certain litigation matters including antitrust lawsuits for UFC and stockholder litigation for WWE and Endeavor.”

Call Notes/Prepared Remarks

  • Mark Shapiro said they are “firmly moving ahead with scheduled events in Saudi Arabia and the region” for both WWE and UFC, “even and despite a challenging environment.” He confirmed Saudi Arabia’s PIF will not withdraw their financial commitment to TKO as they did with LIV Golf. He said they are planning on all six events after those shows with WWE/UFC/Zuffa boxing to take place in the region as planned.
  • Shapiro said they still plan on losing $30 million for the UFC White House card.
  • Shapiro said WWE Elimination Chamber had a “meaningful” YOY increase in its debut on ESPN, and was the second highest arena gate in company history.
  • Shapiro said they were “not concerned about ticket performance whatsoever” for WWE WrestleMania 42 and that it was “unrealistic” to expect growth there year over year. He said it was still one of the highest gates in WWE history and outperformed anywhere else they could have held it.
  • He followed that up by addressing criticism of WWE creative. He defended it, saying they listen to all feedback but that what they have been hearing is “not new criticism” and there there will always be “periodic dissatisfaction” with creative.

Q&A

Shapiro was asked during the call about the fan criticism about WWE and he re-iterated some of the points he made on the recorded call, saying listening to any and all feedback is “high priority” for them and while they listen and learn, “balancing the fan experience with the business of sports is never easy,” comparing it with complaints about Hollywood, movies, and ticket prices.

He said change takes getting used to and that fans used to complain about NBA sponsor patches and that even the L.A. Dodgers added a rights partner on the field at Dodgers Stadium. He also mentioned the critics for when ads were introduced in key times for the NCAA Final Four, NFL games, etc.

He said there is “no magic formula and no magic serum” to adding the commercial element into WWE’s presentation and that it’s a trial and error over time and that they have pushed boundaries for events, leaning into some more than others.

“Most important, our product comes first,” he said, noting that fans are unique, super passionate and how marketers want access to their IP. They are working to do that while maintaining a balance and that “revenue allows us to be more creative with our product and our superstars.”

He added that, “Our audience is resilient. We can’t take them for granted. Currently, we have record attendance, record viewers, and record engagement,” he said.

He was later asked about similar critiques about UFC fight cards which he replied, “Bottom line, we don’t buy it.” He put over the last numbered event, the amount of young fighters making their way up the ranks, and that with any sport, there are natural ebbs and flows with star power, comparing it to a time in the NBA when fans had similar complaints.

Asked about the success of one off events in the MMA space and competition, TKO CFO Andrew Schleimer said they made an eight figure investment in doubling fighter bonuses and that fighter compensation continues to grow as “we would never turn a blind eye to our most meaningful investment.” Shapiro that that everything is competition in combat sports with other events, but didn’t seem to have any concerns about those competitors.