UFC and WWE are merging its individual live events departments into one entity, called “TKO Live Events Strategy Team,” with UFC senior executive Peter Dropick being promoted to executive vice president, event development and operations for TKO.
That’s according to a new report from ESPN.
“Demand for live sports and entertainment has never been stronger, and we believe our portfolio of events will continue to drive the growth of our business,” Andrew Schleimer, chief financial officer of TKO, said in a statement (via Andreas Hale).
“The newly integrated TKO Live Events Strategy Team will focus on creating operational efficiencies and developing strategies to leverage the broader economic benefits we bring to host cities, including partnering with local governments and maximizing revenue opportunities from site fees.”
UFC and WWE are both housed under the TKO Group Holdings, Inc. (TKO) banner after Ari Emanuel and his Endeavor group purchased the pro wrestling promotion early last year. Expect the organization’s live events consolidation to result in additional layoffs.