[xrodmuc316]

Really well put together timeline here:

https://wrestlenomics.com/2023/05/12...f-wwe-and-ufc/

March 23rd, 2023 is especially interesting:

Mar 23: Endeavor’s legal advisor Latham gave WWE a revised term sheet, proposing Vince as executive chair until death, resignation or incapacity, as a condition of giving WWE a 49/51 increased valuation. Vince would also get 5 of 11 board seats and certain veto rights. Indeed, according to the filing, Endeavor was willing to concede to giving WWE shareholders a greater portion of the value of the merged company (49% rather than 43%) only on the condition that Vince McMahon remained with the company as executive chair. During conversations on March 23 and March 24, 2023 involving representatives of K&E [for WWE], Latham [for Endeavor] and Paul, Weiss [for WWE], representatives of Latham emphasized to representatives of K&E and Paul, Weiss that the governance proposals in the March 23 Endeavor Term Sheet were fundamental to Endeavor’s thesis for pursuing a transaction with WWE in light of, among other things, Endeavor’s belief that Mr. McMahon’s continued leadership as contemplated by the March 23 Endeavor Term Sheet would be critical to the value creation driving Endeavor’s desire to engage in the transaction, and that agreeing to increase WWE’s securityholders’ pro forma equity ownership in the combined company to the 51/49 split that had been proposed by WWE was conditioned upon both changes required by Endeavor to the governance arrangements set forth in the March 23 Endeavor Term Sheet. Latham also reiterated Endeavor’s position that Mr. McMahon provide his written consent to approve the potential transaction with Endeavor promptly following the signing of definitive transaction agreements. That’s consistent with Emanuel’s comments on CNBC on Apr 3, when he said, “Oh my god, yes,” in response to a question about whether he insisted Vince stay with the company.