TKO’s Mark Shapiro Addresses WWE Superstar Pay Cuts
TKO COO Mark Shapiro says the company is comfortable with its current compensation structure for WWE Superstars and UFC fighters following adjustments made around its recent media rights deals.
Speaking at the Goldman Sachs Conference, Shapiro was asked about balancing talent expenses against the marketing investment TKO puts behind its stars. He said compensation for WWE and UFC talent has already been “resized” and that those changes are reflected in the company’s financial outlook.
“Let’s talk about the pay for the superstars and our fighters first. What I would tell you is post our new deals with ESPN on WWE and with Paramount+, CBS, Peacock, Sky with UFC, and even a little bit post Raw with Netflix, we did resize our fighter and superstar pay composition,” Shapiro said.
“That is baked into our numbers. So there will be no further adverse impact with regard to how that plays out or divvies out. We’re confident with where we sit.”
Shapiro then pointed to TKO’s developmental systems as an important part of its strategy, noting that WWE relies heavily on NXT to produce talent for its main roster.
“We have 600 fighters as an example in our stable at the UFC. We do, to your point, really rely on development. Keep in mind that when you look at the WWE, 75% of the superstars come from NXT. So they’re starting in our development league and going all the way up. So pipeline is very important to our strategy.”
On the UFC side, Shapiro highlighted the company’s Performance Institutes and said TKO also intends to continue pursuing additional revenue opportunities for its talent.
“On the UFC front, we’ve really capitalized on the investments of our performance centers in Mexico City and Vegas, and particularly China,” he continued. “We’re really getting real traction. So that’s a big part of our strategy. It will continue to be a big part of our strategy.”
Shapiro added that TKO will remain aggressive in finding other ways for WWE and UFC talent to generate money, including advertising and marketing partnerships as well as UFC performance bonuses.
“What you see is you see the best of the best signing up and lining up to be a part of the UFC and to be a part of WWE. So that’s something we always watch out for and we want to make sure that we’re really spreading the opportunities, but the strategy’s working. Our margins will continue to expand.”
The comments come after reports over the past year that WWE has asked some talent, including Kofi Kingston and Xavier Woods, to accept pay cuts.
WWE’s agreement with Netflix began in January 2025, while its deal with ESPN launched in September 2025.
Elsewhere during the conference, Shapiro discussed TKO’s relationship with Saudi Arabia, which will host WrestleMania next year.
“Obviously nothing bigger next year than WrestleMania being in Saudi Arabia, which will be one to remember and one not to miss,” Shapiro said.
“Of course, our partners in Saudi bring the UFC and WWE to their region because they’re trying to draw attendance from not just around the globe, but certainly in the Middle East.”
Despite ongoing instability in the region, Shapiro said Saudi Arabia remains eager to attract major sporting and entertainment events.
“All I would tell you is when it comes to the Middle East, despite what’s going on, despite how much longer that may go on, they’re open for business. In fact, I would tell you they’re more hungry to bring live events, not just sports, but concerts to the Middle East to show the world and tourism and fans that they’re open for business and they’re not slowing down.”
Shapiro said TKO has remained on schedule with its planned events and could potentially add more before the end of 2026.
“We’ve stayed on track with our events for this year. We still have two more events this year,” he said.
“We may actually announce a couple more this year. That’s how much demand we’re seeing, and I think that’s ultimately the headline among the headlines when it comes to TKO and where we sit in the sports entertainment ecosystem. Demand is outstripping supply.”
Honestly I think I may have been the first to experience the new TKO version of “contract Negotiations”
56% paycut…. OUCH! https://t.co/WHseg3MwVI
— Luke Menzies (@LDMenzies) September 3, 2026
