TKO Group Holdings continues to expand, with one of its flagship properties the WWE announcing the acquisition of the Mexican Lucha Libre promotion AAA.
The deal was announced by WWE chief content officer Paul Levesque at Wrestlemania 41, which was held this weekend in Las Vegas, Nevada alongside Fillip’s chairman Alberto Fasja, AAA’s Marisela Peña and Dorian Roldán Peña.
Terms of the deal between the WWE and AAA parent company Filip were not disclosed, though the WWE says that the Peña family, which has led AAA since its founding in 1992, will continue to be involved. The promotions will host an event called “World’s Collide” in Los Angeles June 7, with talent from both companies.
A number of high-profile WWE stars made their debuts in AAA, including Rey Mysterio, Eddie Guerrero, and Penta. Lucha Libre is a style of wrestling that typically features masked wrestlers (luchadors) with a fast high-flying format.
“AAA has a rich cultural heritage with some of the most passionate fans in the world and it’s an honor to work with the Peña family to embark on this journey,” said Levesque. “By bringing together WWE’s global capabilities and AAA’s amazing tradition, we look forward to an exciting future filled with new opportunities.”
The deal for AAA comes amid an expansion push by TKO, which has acquired Professional Bull Riders, On Location and IMG from its controlling owner Endeavor. TKO also announced a push into boxing via a deal with HE Turki Alalshikh, the chairman of Saudi Arabia’s General Entertainment Authority. Details on the boxing venture are still to be determined.
“We look forward to partnering with WWE and TKO on this venture to secure the future of AAA for fans and to help take this business to the next level,” said Fillip co-founder and Co-CEO Hugo López-Velarde.
“AAA has been a family-operated promotion for over three decades and our trust could not be better placed than with one of the biggest sports entertainment businesses in the world,” added AAA GM Dorian Roldán Peña.