For years, the aim of Dana White and the rest of the UFC brass was to ensure that the promotion remains the premier platform for all things mixed martial arts. And now that’s seemingly done, the UFC bosses are expanding their horizon. In January 2026, TKO Group Holdings, the parent company behind the UFC, launched Zuffa Boxing with Saudi Arabia’s backing in an attempt to disrupt the boxing market. Now, they are looking to expand their sports empire into the NFL with their latest purchase.
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According to reports, Ari Emanuel and Mark Shapiro, the top execs at TKO, are buying a small ownership stake in the Las Vegas Raiders. Once the deal closes, Emanuel will own 1.4% of the franchise, while Shapiro will hold a 0.6% interest in the team. Currently, the Las Vegas Raiders’ total valuation is reportedly around $9.9 billion, which makes Emanuel’s share worth a whopping $138.6 million and Shapiro’s $59.4 million, with both of them owning a combined 2% of the team.
These minority-stake investments are Shapiro’s and Emanuel’s personal holdings. They remain completely separate from their executive roles at TKO. However, they aren’t the only ones from TKO who have invested in the NFL.
Alongside Emanuel and Shapiro, Egon Durban also became a major player in the NFL deal. For those who don’t know, Durban is the CEO of Silver Lake, which is the parent company of Endeavor that owns a 61.7% majority stake in TKO, and he was already a stakeholder in the Raiders. As per the report, Durban’s share has now increased to a whopping 22%. However, Mark Davis still remains the controlling owner with a 36% stake in the Las Vegas Raiders.
In 2024, the founder of NFL newsletter ‘Huddle Up’, Joe Pompliano, noted that NFL teams would start allowing private equity firms to purchase minority stakes in their franchises. So, based on that report, we are seeing businessmen like Emanuel and Shapiro invest in NFL teams. However, it wasn’t only the NFL’s business mandate that allowed them to make the deal. The TKO bosses’ personal connection to the Las Vegas-based team also played a huge role.
UFC owners Ari Emanuel and Mark Shapiro are joining the NFL owners' club with both purchasing a minority stake in the Las Vegas Raiders The ownership stake is less that 10% for each but Egon Durban — another business partner with Endeavor and TKO — is upping his stake to 22%
Through their On Location program, TKO became the official hospitality provider for the NFL team, and the company has also hosted WrestleMania events at the Raiders’ home ground, Allegiant Stadium, in Las Vegas. Also, UFC boss Mark Shapiro has even longer ties with the Raiders, as he acquired the rights to Monday Night Football on ESPN in 2005 and also created NFL Honors.
Now, it’s worth noting that American football isn’t the only sport they’ve become interested in. Reportedly, TKO has also partnered with the upcoming FIFA World Cup through their On Location program. Still, the UFC and WWE remain their biggest cash cows.
Mark Shapiro reveals UFC and WWE’s lucrative first-quarter revenue for 2026
According to 2025’s tax filing, Ari Emanuel and Mark Shapiro saw their personal wealth surge because of the success of UFC and WWE. Now, it seems the following year could bring even more money to Dana White’s bosses. Providing a glimpse into their business for the first quarter of 2026, Shapiro revealed during an earnings call that WWE and UFC reported $1.597 billion in revenue in the first quarter, marking a whopping 26% growth.
“TKO is off to a formidable start in 2026, with strong results and continued momentum across each of our businesses,” Shapiro said. “We are reaffirming our full-year guidance, and today’s incremental $1 billion share repurchase authorization underscores our conviction in TKO and its long-term value.”
The UFC also signed a historic $7.7 billion deal with Paramount that officially went into effect in January this year. Under the new broadcasting deal, the promotion is going all out with major spectacles like the UFC White House card in June and Conor McGregor’s return during International Fight Week in July.
So, with such marquee combat sports events ahead and TKO’s expansion into other sports, Dana White’s bosses have made it clear that they are ready to broaden their scope and influence even further.
