More Details Behind Lawsuits WWE Facing Over UFC Merger, Endeavor Deal

It was reported yesterday that WWE investors filed a lawsuit challenging the promotion's merger with UFC. The merger was completed in September under the name TKO Group Holdings after being announced following WrestleMania 39. In an update published by Bloomberg, the lawsuit claims that former WWE Chairman and current TKO Executive Chairman, Vince McMahon, used his "domineering personality" and majority stake at WWE to arrange an "unfair transaction."

It's also noted in the lawsuit that McMahon, who reinstated himself onto WWE's board in January after retiring last summer amid sexual misconduct allegations, rebuffed higher offers to secure a deal with his longtime friend Ari Emanuel, the CEO of Endeavor and TKO, to keep himself involved with the Stamford, Connecticut-based promotion despite "stockholder discontent" and "government investigations."

The suit also claims that Emanuel put forward a tentative offer to McMahon after the 78-year-old reached out to him following his return to the organization earlier this year. It's said that Emanuel's offer was entertained before other competing bids. It was described in the suit as a "sham sales process" to benefit Endeavor and shut out bidders who were looking to take McMahon out of the picture. Meanwhile, longtime wrestling journalist Dave Meltzer mentioned on the latest "Wrestling Observer Radio" that there is another lawsuit being filed by a WWE stockholder. Meltzer claimed that further details about that complaint would be revealed soon.