In a stunning move that will have major implications for the pro wrestling world, WWE has agreed to a merger with UFC. The deal will result in a new publicly traded company, with Endeavor owning a controlling stake of 51% in Vince McMahon’s company. And the negotiations came together at lightning speed.

According to The Wrestling Observer Newsletter, the initial proposal to merge WWE and UFC was made just “three weeks ago” during a meeting in New York between Vince McMahon, Nick Khan, Emanuel, and Shapiro. Another meeting was held in late March at WWE’s headquarters in Stamford, CT, which sealed the deal.

“The original proposal by Emanuel and Shapiro was made three weeks ago in a meeting with Vince McMahon and Nick Khan at the Raine Group offices in New York,” wrote The Observer. “They made a second pitch in late March at the WWE offices in Stamford, CT.”

Under the terms of the deal, no cash will change hands, and Vince McMahon will retain his control over WWE’s creative direction. This was reportedly a key condition for McMahon to agree to the merger.

The new merged company will be traded under the stock name TKO, although an official name has yet to be revealed. It remains to be seen how this deal will impact the world of pro wrestling, but it’s clear that it represents a major shift in the landscape of the sport.