Newly surfaced audio captures Vince McMahon telling investment banker Jeff Sine that he chose the Endeavor deal because it “solves a lot of problems,” giving a direct look at his motive for merging WWE with UFC.
The recordings, reported by POST Wrestling, add a money-and-motive layer to the previously reported voicemails in which Endeavor CEO Ari Emanuel assured McMahon there were “ways around” federal scrutiny.
The full audio record now available covers three voicemails from the months before WWE and UFC combined under TKO Group Holdings. It arrives while the same 2022 communications sit at the center of ongoing shareholder litigation in Delaware.
McMahon’s Voicemail To His Banker
On December 13, 2022, McMahon left a late-night message for Jeff Sine of The Raine Group, the investment bank advising WWE on a potential sale, after a meeting with Emanuel.
Hey, Jeff. It’s 10:13 [p.m.]. Very good meeting with Ari and company. And I think and probably the best thing to do is to go forward with the deal with Ari. It solves a lot of problems,” McMahon said.
I, you know, again, together, I think it’s a stronger situation than either one of us on our own. But I’m pretty sure that’s the way I want to go now. It’s easier, faster and all that kind of stuff.
McMahon added that he “didn’t commit to Ari” but wanted to move forward. He had stepped down as WWE CEO earlier that year amid investigations into allegations of s*xual misconduct and hush-money payments, then returned to the company in a board role while pursuing a sale.
Emanuel’s “Ways Around This” Messages
As previously reported, Emanuel left McMahon two voicemails in September 2022 offering legal reassurance. In the September 16 message, he referenced counsel at Latham & Watkins and their connections at the Department of Justice.
I spoke to my lawyer from Latham. Just FYI, everybody at the DOJ is former Latham lawyers. So on that side, it will be helpful. SEC, of course, is SEC, but that’s just the penalty,” Emanuel said. “As it relates to everything else, yes, we can indemnify you, and we will. If it’s criminal, of course, you can’t stop criminal, but this is not criminal.
Three days later, on September 19, Emanuel pressed for a broader conversation.
I really do think that we all need to get together and talk through all the issues, because I think whether it be the DOJ or anything, there’s ways around this to figure this out,” he said.
The earlier reporting on Emanuel’s comments about DOJ staff being former Latham lawyers was first amplified by a Puck report.
Why The Audio Matters Now
WWE announced its agreement with Endeavor in April 2023, and the merger under TKO Group Holdings was completed in September 2023, with the company debuting on the New York Stock Exchange. WWE and UFC now operate as divisions under TKO.
The 2022 messages are directly relevant to the Delaware shareholder lawsuit over the merger. Both McMahon and Emanuel are among the witnesses expected to testify, and plaintiffs have pushed for materials tied to the federal investigations.
McMahon previously agreed to pay more than $1.7 million in a settlement with the SEC over disclosure failures, without admitting or denying the findings.
McMahon and other executives are also set to testify in the upcoming trial, which follows a sanctions motion over alleged destruction of evidence in the same case.