In the midst of WrestleMania 39 weekend, WWE is reportedly on the verge of making a monumental move.

According to Alex Sherman of CNBC, the Vince McMahon-led company is engaged in "advanced talks" to be sold to Endeavor Group, which is the parent company to UFC and led by Ari Emanuel. Sherman noted that "a deal could be announced as soon as Monday."

As part of the potential agreement, the UFC and WWE reportedly would likely "form a new publicly traded company." Sources told Sherman that Endeavor would take over 51 percent of WWE, with Emanuel expected to act as chief executive of the new company as well as Endeavor.

WWE shareholders would maintain 49 percent of the company, and McMahon reportedly "is expected to be executive chairman." Nick Khan, who is CEO of WWE, "will serve as president of the wrestling business."

After retiring from his role as WWE Chairman last July following the revelations that he paid millions of dollars in hush money to settle accusations of alleged sexual misconduct, McMahon reinstated himself as executive chairman in January so he can oversee the process of the sale of the company as well as the media rights deals.

Sherman noted that WWE currently has a market value of "more than $6.79 billion," while the deal with Endeavor would give the company "an enterprise value of $9.3 billion." Emmanuel will become the first owner of the company outside of the McMahon family, as Vince's father founded the original incarnation of WWE in 1953 before selling it to his son in 1982.

Adding WWE under the Endeavor umbrella would put McMahon and UFC President Dana White in even closer contact. The two have worked together sparingly in the past, most notably in regard to Brock Lesnar's combat sports career.

Emanuel would likely be salivating at the prospect of adding another combat sports venture to his belt, as Endeavor's sports business reportedly generated $1.3 billion last year thanks to the UFC. The hope would be for WWE to do the same, as Sherman pointed out that the company generated $1.29 billion in revenue last year.

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