Posted on 5/17/123 by Colin Vassallo
Raine Group, which is advising WWE on
its sale to Endeavor, will get one of
its biggest paydays with a $65 million
fee when the Department of Justice
approves it.
Raine is also currently helping the
Glazer family sell Manchester United but
that fee will be considerably less since
WWE’s sale is going for far more money.
They also helped Roman Abramovich sell
Chelsea last year and netted $38
million.
The group, which was launched in 2009 by
former Goldman Sachs banker Joe Ravitch
and Morgan Stanley and former UBS banker
Jeff Sine, will get a total of about 1%
of total aggregate fees according to the
Financial Times. In addition, JPMorgan
and Moelis & Company will get about $25
million each for other advisory roles.
Sine’s relationship with the McMahon
family dates back to 20 years says the
FT and the group also advised McMahon on
the XFL short-lived revival in 2020.