WWE’s Netflix deal has revealed an unexpected connection to UFC. The two companies operate under the same corporate parent, TKO Group Holdings. Now, a legal document has revealed an interesting detail about their media rights negotiations.

WWE signed a major deal with Netflix in January 2024. The agreement was reportedly worth $5 billion over ten years. It brought WWE RAW to the streaming platform in January 2025. The move ended Raw’s decades run on television.

However, the agreement also included a surprising UFC connection. A unredacted portion of a legal document revealed the detail.

The surprising UFC connection in WWE’s agreement with Netflix

According to Wrestlenomics’ Brandon Thurston, WWE’s Netflix agreement included a special provision. The deal gave Netflix “a right of first negotiation” for UFC’s domestic media rights. Thurston reported the development on X, formerly known as Twitter the following a ruling.

The ruling came from Delaware’s Court of Chancery last week. The provision reportedly offered Netflix an opportunity to negotiate first. However, Netflix ultimately passed on the UFC media rights deal.

Reports suggested the streaming giant preferred major marquee events. It reportedly wasn’t interested in acquiring UFC’s entire event schedule. Paramount Skydance eventually secured the UFC’s domestic media rights.

The seven-year agreement is reportedly worth $7.7 billion. The deal began in January 2026. Thurston pursued the removal of redactions from the legal document. His reporting was connected to a WWE shareholders’ lawsuit.

WWE’s general counsel had reportedly sought to keep the information hidden. Thurston shared another detail about the court’s decision. He wrote, “Despite affidavit from WWE GC, claims of harm were deemed too general and “[i]t does not matter that the case settled and preempted the court’s need to rely on the information.”

He added, “WWE’s attorneys raised this in the merger lawsuit as part of litigation about whether post-merger media rights evidence should be included at (the ultimately cancelled) trial. WWE argued merging with UFC benefited media rights deals, contrary to plaintiffs’ expert’s assertion.”

The document has now revealed more about WWE’s negotiations. It also shows Netflix had an opportunity to pursue UFC rights. However, the company ultimately chose not to move forward.

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