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.
