The WWE has secured a massive $1.6 billion deal with ESPN to air its 10 annual “premium live events”, including WrestleMania, according to a report confirmed by Deadline. The agreement marks a significant boost for the company’s parent, TKO Group Holdings, and is seen as a major win for ESPN.
However, the stock of WWE has declined by nearly 3% despite the deal, hovering around $159 per share. Analysts have mixed reactions, with some citing that the deal came in “better than expected” but fell short of consensus expectations at $340 million annually.
The agreement, which is set to drive ESPN’s streaming future, includes a vast library of WWE programming and new NFL rights. The addition of this content has been welcomed by ESPN, with Chairman Jimmy Pitaro praising the WWE’s “immense and devoted fanbase”.
Industry experts note that the deal could have implications for TKO’s negotiations with Disney and ESPN for UFC pay-per-view rights. Analysts like Lance Vitanza expect the deal to boost TKO shares, but some question whether the investment will yield significant returns.
The deal has also drawn attention from critics who argue that WWE is a form of sports entertainment rather than traditional sports. Some point out that the agreement highlights Disney’s financial struggles and its reliance on cheap content for ESPN.
Source: https://deadline.com/2025/08/wwe-espn-deal-wall-street-ari-emanuel-tko-group-1236480107