WWE Reaches Settlement With MLW Over Antitrust Allegations

Just about two years ago, MLW initially filed its antitrust lawsuit against WWE. In its litigation, MLW alleged that WWE had pressured third parties into abandoning deals with MLW, most notably Vice TV and Tubi. But after all the legal rambling, things look to be headed for a settlement of some sort.

Per Wrestlenomics, MLW and WWE have come to terms on a settlement with both parties filed for the agreement today. According to the documentation, both sides were "in the process of completing the final settlement documents." Should all go well, both MLW and WWE will file dismissal papers within the next 30 days, officially ending the lawsuit. 

The settlement ends a saga that featured numerous twists and turns, including a judge at one point dismissing the lawsuit in February 2023, followed by MLW filing an amended version of the suit just one month later. This time it stuck, with a judge later denying WWE's motion to dismiss the lawsuit in the late spring. While updates regarding the case have become scarce as of late, the lawsuit was said to be in the discovery phase.

The terms of the settlement so far have not been disclosed, and no one from MLW or WWE has officially commented on the matter. 

WWE-UFC Merger Challenged In Lawsuit Alleging “Sham Sales Process” for Megadeal

Investors claim that WWE board members favored a merger with Endeavor's UFC to allow Vince McMahon to stay on as executive chairman of TKO Group.

Vince McMahon’s corporate coup that paved a path for him to force his way back onto the WWE board and merge the sports entertainment powerhouse with Endeavor’s UFC is back in the spotlight, with a lawsuit arguing that he ignored more lucrative offers at the expense of investors.

A suit, unsealed in the Delaware Court of Chancery on Nov. 22, alleges that McMahon pushed a “quick sale” of WWE to Endeavor chief Ari Emanuel, his “close friend and longtime ally” who proposed a sweetheart deal that allowed the wrestling mogul to stay on as executive chairman of TKO Group and avoid scrutiny in connection with sexual misconduct allegations that could’ve ousted him from the company. According to the complaint filed by investors, WWE board members “conjured up a sham sales process” designed to favor Endeavor and “exclude other bidders seeking to axe” McMahon, disregarding at least two all cash offers with betters terms.

The complaint extensively details McMahon’s turbulent tenure as head of WWE, culminating in September with the formation of TKO Group through a $21 billion merger between UFC and WWE. He had returned to the company in January after having stepped down as chief executive amid a sexual misconduct investigation into $17.4 million in hush money payments to four different women formerly employed by the company. McMahon, as WWE’s controlling stockholder, removed and replaced three then-serving board members with himself and former executives George Barrios and Michelle Wilson.

“If McMahon was found to have breached his duty of loyalty, WWE stockholders could have sought his removal as a director,” states the suit. “Such scrutiny appears to have prompted McMahon to seek a ‘quick’ sale of the Company that also allowed him to continue running WWE.”

WWE announced on the same day as McMahon’s return in January a review of strategic options. In a statement, he said that he wanted to lead any talks about a possible sale or rights negotiations himself. Investors claim that he immediately turned to Emanuel, his former agent whom he “knew would allow him to remain at the helm” of the merged entity. They say that both the process and price point were unfair, alleging there were betters deals on the table.

According to the complaint, this included undisclosed companies submitting cash offers at $95-$100 and $90-$97.50 per share. But because they contemplated cashing out WWE stockholders and barred McMahon from rolling over his shares, which would’ve signaled his “complete ouster” from the wrestling world, the board “never bothered to make” counterproposals, the suit states.

Instead, WWE exclusively negotiated with Endeavor, proposing an all-stock deal that was contingent upon McMahon serving as executive chairman of the combined company, the complaint says. Endeavor ultimately agreed, with it owning 51 percent of the post-deal firm and former WWE stockholders owning the remaining 49 percent. Investors allege that merger was consummated at $95.66 per share, which fell below two competing, all-cash offers. (Those WWE suitors were redacted in the complaint. But the companies were described as “major institutions with significant access to capital” that had “compelling reasons to close an acquisition of WWE.” One of them likely had “significant runway to increase its offer due to the outsized synergies it could generate in a combination with” the company, the suit says.)

“Not only did he secure a future for himself at post-merger WWE, McMahon also stuffed his pockets and those of his loyalists before agreeing to a deal,” states the complaint, which points to he and former chief executive Nick Kahn securing so-called golden parachutes, along with Khan, McMahon’s son-in-law and WWE chief content officer Paul Levesque (known professionally as “Triple-H”) and WWE president Frank A. Riddick getting a combined $25 million in cash bonuses.

The suit argues that the $21 billion price tag undervalues WWE. It’s “far below the offers” the board could’ve obtained from multiple other bidders had it “made any effort to negotiate in good faith,” investors claim.

According to the complaint, McMahon and his allies on the board “timed negotiations” to favor a deal with Endeavor, including by providing early due diligence and backchanneling information to the company so that it was able to make an early offer. During this process, WWE only secured a budget for UFC’s current fiscal year rather than insisting on a full set of multi year projections, as is customary, despite agreeing to merger consideration that depended on valuing UFC accurately, the suit says. By rushing to secure a merger with Endeavor without conducting adequate due diligence, investors argue the board got an unfavorable deal in agreeing to a 51-49 split.

The complaint, filed by an Ohio pension fund, names McMahon, Khan, Levesque, Barrios and Wilson, among others. It contains various claims for breach of contract and seeks to represent all stockholders who cashed out their shares in the merger.

WWE didn’t respond to a request for comment.

source: Hollywood Reporter

CM Punk Returns To WWE

When "never say never" becomes a shocking reality.

As those in attendance at the Allstate Arena in Rosemont, Illinois — and the WWE Universe overall — were left reeling by Punk's shocking return to the company weeks after his departure from AEW, Paul Levesque also tried to put the moment into words during the Survivor Series post press conference.

"This was one of those sort of lightning in a bottle moments that came together very quickly," Levesque told members of the media. "But we are incredibly excited by it. It's been a long time and in some ways, it's been a long time coming."

He added: "You could say this about CM Punk — love him, hate him, positive, negative, whatever you want to say — people talk about him all the time. He is a magnet for that. He is a conversation starter and it's tough to look past that. And for me, if our fans want it, if the WWE Universe is excited to have it, then let's go and we'll figure out the rest of it from there."

The Chief Content Officer of the WWE reinforced that Punk's return materialized "super quick."

"A lot of time has gone by — almost 10 years, right?" Levesque said, referring to the last time Punk was a WWE Superstar. "And if you are the same person you were 10 years ago 10 years later, you've messed up. Everybody grows, everybody changes and I'm a different person, he's a different person and this is a different company. And we're all on the same, even starting ground."

As for what's next for CM Punk? Levesque is as intrigued by the possibilities as anyone else.

"That will be interesting, won't it?" he said. "I'm interested to see that myself. I know whatever it is, it'll be talked about, it'll be exciting and it will be a thrill ride for the WWE Universe no matter what it is. And I'm thrilled, we're all thrilled to have him back here.

"And to have him back — cliche to say — but have him back here in WWE. It's where he belongs."

Paul “Triple H” Levesque Offers Inside Look At WWE Storytelling

 "Book what people want to see and feel...More?

source:  si.com

Big 12, WWE pairing hands title belt to conference championship MVP

WWE and the Big 12 have formed a new partnership around the Big 12 championship game that will include a custom-made championship title belt going to the game's most outstanding player.

The new pact will include blended Big 12-WWE logos on the field at AT&T Stadium, a new Big 12 merchandise line and WWE superstars presenting the most outstanding player belt and participating in events around the title game, which takes place Dec. 2.

The partnership with WWE adds to the Big 12's push to modernize and connect with a younger audience. Hip-hop star Nelly will perform at halftime.

"WWE is a global brand that connects with a wide array of audiences," Big 12 commissioner Brett Yormark said in a statement. "With this partnership, we will integrate WWE and its brand power into one of the conference's biggest moments, further strengthening the bridge between sports and entertainment throughout the Big 12."

Yormark has spent much of his career working in the sports entertainment world, coming to the Big 12 from Jay-Z's Roc Nation, where he served as CEO and president of business operations and strategy.

WWE has taken a more active role in college football in recent years. The promotion's name, image and likeness program, "Next In Line," has included football players and other college athletes and put some on track for professional wrestling careers. WWE also finalized licensing agreements with all 14 SEC programs to create championship belts with each school's logo on the side plates.

Paul Levesque On WWE’s Merger With Endeavor: ‘I Can’t Tell You How Excited I Am’

Front row at Madison Square Garden’s Hulu Theater last night for the Callum Walsh-Ismael Villarreal boxing match were UFC CEO Dana White, WWE President Nick Khan, and WWE Head of Creative Paul “Triple H” Levesque.

 
The fight aired on UFC Fight Pass, which is investing more resources into its boxing and building around potential cornerstones like Walsh. A highly touted super welterweight prospect, Walsh (9-0) won a closely contested bout by unanimous decision, earning Levesque’s respect with his performance.

 
“It’s the first time I had the chance to see him fight live,” said Levesque, who spoke with Sports Illustrated while ringside. “He’s so well-rounded. I think this kid has it on all levels.”

 
Levesque marveled at the ten-round performance of the 22-year-old Walsh, who extended his undefeated streak with the victory.

 
“No matter what the genre, when you reach the next level, there are nerves and second-guessing that come at this level–and maybe a part of you that doesn’t believe in your hype,” said Levesque. “When you get to a certain level, a lot of it is a head game. To see how poised he is at this level, it’s awesome to see.”

 
Levesque is in the midst of a superb run of storytelling in WWE, especially since the company’s merger with Endeavor, which is also the parent company of the UFC. An old-school booker willing to embrace wrestling’s modern aspects, Levesque is molding Raw and SmackDown back into must-see products. Raw has been especially strong, with seemingly minute details–like advertised matches taking place–allowing multiple talents to have significant storylines.

 
Endeavor CEO has tasked Levesque to oversee all of WWE’s creative, a role he relishes.
“I can’t tell you how excited I am,” said Levesque. “Working with Endeavor, it’s next level. The flywheel for all the things they touch–if you were trying to build that on your own, it’s taking you a decade. For us, now, it fast tracks everything we’re doing.

 
“Endeavor, UFC, they’re the best in the business at what they do. They put things on a different level of professionalism, and we fit right into that. The future is so bright because of the opportunities Endeavor is going to provide for us and the synergies that are there. We’re going to take this to a whole new level.”

source:  si.com

Vince McMahon Puts More Than 8 Million Shares Of Class A TKO Stock Up For Sale

Vince McMahon is getting ready to sell a significant chunk of his ownership in the company, even ceding some of it to board members Ari Emanuel and Mark Shapiro.

According to a new announcement from TKO, McMahon is selling 8.4 million shares of his Class A stock in the company, roughly 30% of his stake in the company, which Brandon Thurston says is worth roughly $700 million at the stock's closing price. TKO will buy $100 million worth of the stock, while Endeavor CEO Ari Emanuel will purchase $1 million worth of the stock, and Endeavor president Mark Shapiro will purchase 850k of the stock. The remaining stock, worth roughly $598 million at closing price, will be sold to the public.

On Tuesday, McMahon was listed by the company as a possible liability in a filing with the Securities & Exchange Commission. This comes less than two months since TKO filed that all 28.84 million shares of McMahon's Class A stock in the newly minted company were listed for sale, which led to speculation that the company was looking for a way to excise the controversial executive, especially since McMahon was served with a subpoena for a Federal Grand Jury, as well as a search warrant.

Giant WWE Championship Belt Sculpture Already Awing Passersby

A giant, 7-foot-tall pre-cast concrete monument resembling the real-life championship belt worn by wrestlers in WWE is nearing completion in front of the offices of the wrestling company on Washington Boulevard.

By Friday, the main frame of the belt was already installed, as were decorations meant to mimic the bejeweled facade of the WWE Championship, currently held by wrestler Roman Reigns.

Rumor Mill - Triple H And Vince McMahon's Roles In WWE Creative

Rumors began to emerge yesterday suggesting that Paul "Triple H" Levesque is fully in control of WWE creative following the formation of TKO Group Holdings. In this scenario, it was said that Vince McMahon still retains his position on the board, but is no longer submitting last-minute creative changes to "WWE Raw" and "WWE SmackDown." On today's "Wrestling Observer Radio," journalist Dave Meltzer shared what he's heard regarding the creative situation in WWE.

McMahon has reportedly "backed off" of the company's creative. However, that is only for the time being, and McMahon still retains the power to change things if he desires. As of now, though, the creative direction is said to be almost entirely set by Levesque. Meltzer stated he was unsure why exactly McMahon seems to have chosen to take a step back willingly, as he has expressed no desire to do that in the past. In fact, McMahon pushed hard to return to the company in the wake of his retirement last year, and for a period of time was said to be making a number of creative changes to WWE shows.

While the details are not yet clear, McMahon is currently under investigation by the federal government. The investigation is likely diving into alleged "hush money" payments made by McMahon to several women previously employed by WWE. Several months after news of the scandal first broke, McMahon stepped down as WWE CEO, and soon after announced his retirement. Early this year, however, McMahon would shockingly re-appoint himself to the board, quickly changing the rules to allow himself to become the company's Executive Chairman. McMahon then presided over the merger between WWE and UFC under the umbrella of Endeavor, which was finalized last month.

Details Of Vince McMahon's Agreement To Pay Legal Fees For WWE Stockholder Lawsuit

For over a year now, former WWE owner Vince McMahon has been embroiled in a scandal revolving around hush money payments over alleged sexual misconduct. According to a recent SEC filing, McMahon agreed to pay $2 million to the plaintiffs in a stockholder lawsuit that originated back in January, meant to cover legal fees. That sum is in addition to the $17.4 million that McMahon was forced to pay back to the company to cover the cost of the investigation into his actions, which was one of the points of the lawsuit. The larger sum was ordered by the court back in March, while the $2 million amount was agreed to in May.

The suit, filed by WWE stockholders Carole Casale and Chrystal Lavalle in January, also sought to address McMahon's changing of the company's bylaws, allowing him to appoint himself back to the Board of Directors after stepping down in 2022. Once the nature of the lawsuit became clear, McMahon reverted the bylaws to the previous iteration, rendering that aspect of the lawsuit no longer relevant.

This isn't the end of the road for McMahon in terms of legal trouble. It was reported that McMahon had been served with a federal search warrant as well as a subpoena from a Grand Jury in July.

Jim Ross On Why Triple H’s Creative Involvement Is A Good Thing for WWE

In the latest episode of Grilling JR (via Wrestling Inc), Jim Ross spoke about Triple H being involved behind the scenes in WWE and why it can only help the company.

He said: “The more you can get Triple H involved on a decision-making scenario, the better off you are. He’s just got a great feel for the business. He’s a student of the game, literally, more than just a nickname. I didn’t see a bad thing about it. My situation was just very arduous. It was no secret that Vince wanted to go younger, different look, different sound, and that would eliminate JR. I guess, if you’re a performer or a talent, you gotta expect that this is going to happen [at] some point in time. I have great respect for Triple H. Then, now, forever as the expression goes. We have a lot in common. We both love wrestling. We both love pro wrestling. I don’t remember having too many bad days with Triple H. We communicated well… And I understood too that he was kind of hamstrung on what he could do in my regard because the influencer was Vince, and Vince wanted a change. And he was hell-bent on getting his change at that announce position.“

Triple H's 2018 'Global Localization' Vision Now A WWE Trademark Initiative

On September 18, WWE submitted a trademark application for the phrase 'Global Localization' to the United States Patent & Trademark Office. The application reveals WWE's intention to utilize the term within the scope of 'entertainment services.'

Accompanying the application was the following description:

Entertainment services, namely, a show about professional wrestling; entertainment services, namely, the production and exhibition of professional wrestling events rendered live and through broadcast media including television and radio, and via the internet or commercial online service;

providing wrestling news and information via a global computer network; providing information in the fields of sports and entertainment via an online community portal; providing a website in the field of sports entertainment; fan club services, namely, organizing and staging events with wrestling fan club members; providing online newsletters in the field of sports entertainment; online journals, namely, blogs in the fields of sports entertainment; Entertainment services in the nature of development and creation of multimedia entertainment content.

The term 'Global Localization' was originally coined by Triple H in 2018 to outline his concept of creating international WWE hubs that would serve as talent pipelines for the US-based NXT brand

WWE’s ‘Smackdown’ to Move from Fox to USA Network in New Rights Deal

WWE’s “SmackDown” is officially set to return to USA Network in a new five-year rights deal.

The weekly show currently airs on Fox but will move to its new network home in October 2024 when the Fox deal expires. “Smackdown” originally began airing on Fox in 2019 as part of a five-year deal between the network and WWE. It had previously aired on USA Network from 2016-2019 and had a number of network homes before that, including Syfy, The CW, UPN, and MyNetworkTV.

Financial terms of the deal were not disclosed, but sources say the new deal is worth roughly $1.4 billion, up from the $1 billion Fox paid in 2019. As part of the new deal for “Smackdown,” WWE will produce four primetime specials per year for NBC, marking the first time that WWE will air in primetime on the network. It is unknown at this time exactly what form those primetime specials will take, i.e. if they will feature live wrestling or if they will be more documentary-focused like WWE’s programming on A&E. According to an individual with knowledge of the deal, the exact nature of the specials is still being determined.

“NBCUniversal has been a tremendous partner of WWE for decades,” said WWE president Nick Khan. “We are excited to extend this longstanding relationship by bringing ‘SmackDown’ to USA Network on Friday nights and look forward to debuting multiple WWE special events annually on NBC.”

The rights deals for both “Smackdown” and “Monday Night Raw” were due to expire in the next year. While “Smackdown’s” future has been determined, there is no word yet on where “Raw” will land. It currently also airs on USA Network, as does WWE’s NXT. Sources say that there has been serious interest from a number of top platforms but no deal has been made at the time of this publishing. Neither of the other two shows is expected to continue to on USA Network, according to sources.

“It’s a privilege and thrill to continue NBCU’s decades-long partnership with WWE which has helped cement USA Network’s consistent position as the top-rated cable entertainment network in live viewership” said Frances Berwick, chairman of NBCUniversal Entertainment. “With Friday nights on USA, primetime specials on NBC, and the WWE hub on Peacock, we’ll continue to use the power of our portfolio to superserve this passionate fanbase.”

Since 2021, NBCUniversal’s Peacock has been the exclusive streaming home of the WWE Network. That includes the company’s expansive library of wrestling shows as well as the home for annual events like WrestleMania, the Royal Rumble, Summer Slam, and more.

WWE was recently sold to Endeavor, which merged WWE with the UFC to form a new company dubbed TKO Group. Vince McMahon, former CEO of WWE, has assumed the role of executive chairman of TKO Group. Under the terms of the deal, McMahon — who was WWE’s controlling shareholder — will own 16.4% of the economic interests in TKO (and 16.4% of the voting power in the new entity). McMahon stepped down as WWE’s chief executive in 2022 amid an investigation by the company’s board into alleged hush-money payments to women who accused him of sexual misconduct. McMahon returned to the company in January 2023 as executive chairman to head up efforts to sell WWE.

source:  variety.com

Details Behind Vince McMahon's WWE Ouster And Return

Last year, allegations of sexual misconduct and hush money payments forced Vince McMahon to step down from his role as WWE CEO. Though he retired for a time, it would be short-lived. McMahon was able to reinstate himself to the board earlier this year, though he remains under investigation by federal officials. A new story by the LA Times, in which the publication spoke to an "individual close to the board," features new insight into the company's internal investigation into McMahon and more.

According to the LA Times report, McMahon initially told the board he wouldn't stand in the way of their investigation into his actions. Additionally, McMahon reportedly agreed to step down from the board voluntarily, with some reluctance, while also claiming that each of the described encounters had been consensual and the payoffs had only been a matter of "protecting the company against potential litigation."

However, by December, McMahon had seemingly changed his mind about stepping to the side. McMahon sent a pair of letters to the company's board, informing them of his intent to return to shepherd a sale. Though the company's board, which at the time featured Stephanie McMahon and her husband Paul "Triple H" Levesque, voted unanimously against McMahon's return, the 78-year-old was able to use his voting power as a majority stockholder to replace two members and get himself back on the board.

The report indicates that McMahon viewed the internal investigation as being disloyal, and two more board members resigned in the aftermath of McMahon's return. Since then, McMahon was true to his word on setting the company up for a sale, with WWE and UFC merging into TKO Group Holdings, made official earlier this month. Under the new corporate infrastructure, McMahon remains in power, serving as the Executive Chairman.

Endeavor Announces Close of UFC® And WWE® Transaction To Create TKO Group Holdings, A Premium Sports And Entertainment Company

Endeavor Announces Close of UFC® and WWE® Transaction to Create TKO Group Holdings, a Premium Sports and Entertainment Company

New Company to Begin Trading Today, September 12, on the New York Stock Exchange Under “TKO” Ticker Symbol

BEVERLY HILLS, Calif. & STAMFORD, Conn.--(BUSINESS WIRE)--Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (previously NYSE: WWE) (“WWE”) today announced the close of their previously announced agreement and the launch of TKO Group Holdings, Inc. (NYSE: TKO) (“TKO”).

TKO brings together UFC, the world’s premier mixed martial arts organization, and WWE, an integrated media organization and the recognized global leader in sports entertainment, to create a new premium sports and entertainment company serving more than one billion young and diverse fans1, reaching viewers in 180 countries, and producing more than 350 annual live events. Through this combination, TKO will leverage Endeavor’s expertise in areas including domestic and international media rights, ticket sales and yield optimization, event operations, global partnerships, licensing, and premium hospitality to drive revenue growth.

“The creation of TKO marks an exciting new chapter for UFC and WWE as leaders in global sports and entertainment,” said Ariel Emanuel, CEO of Endeavor and TKO. “Given their continued connectivity to the Endeavor network, we are confident in our ability to accelerate their respective growth and unlock long-term sustainable value for shareholders. With UFC and WWE under one roof, we will provide unrivaled experiences for more than a billion passionate fans worldwide.”

“This is the culmination of a decades-long partnership between Endeavor and WWE across strategic initiatives including talent representation and media rights. Given our collaborative, trusted relationship and Endeavor’s incredible track record of success growing UFC, we believe WWE is optimally positioned for future growth and success as part of TKO,” said Vince McMahon, Executive Chairman of TKO. “Our focus remains on delivering for our fans across the globe as we take the business to the next level alongside UFC and Endeavor.”

TKO will begin trading today on the New York Stock Exchange under the ticker symbol “TKO,” with Endeavor holding a 51% controlling interest in the new company and existing WWE shareholders holding a 49% interest in the new company, on a fully diluted basis.

As previously announced, TKO is led by:

Ariel Emanuel, Chief Executive Officer, who continues as Chief Executive Officer of Endeavor;

Mark Shapiro, President and Chief Operating Officer, who continues as President and Chief Operating Officer of Endeavor;

Andrew Schleimer, Chief Financial Officer; and

Seth Krauss, Chief Legal Officer, who continues as Chief Legal Officer of Endeavor.

Dana White is now Chief Executive Officer of UFC and Lawrence Epstein remains Senior Executive Vice President and Chief Operating Officer of UFC. Nick Khan continues at WWE in the role of President.

The Board of Directors of TKO is led by Vince McMahon as Executive Chairman of the Board and consists of 11 members, including Mr. Emanuel, Mr. Shapiro, and Mr. Khan, in addition to the following directors:

Peter C.B. Bynoe, Senior Advisor at DLA Piper LLP;

Egon P. Durban, Co-Chief Executive Officer of Silver Lake;

Steven R. Koonin, Chief Executive Officer of the Atlanta Hawks, LLC;

Jonathan A. Kraft, President of the Kraft Group LLC;

Sonya E. Medina, President and Chief Executive Officer of Reach Resilience;

Nancy R. Tellem, Executive Chairperson and Chief Media Officer of Eko; and

Carrie Wheeler, Chief Executive Officer and a board member of Opendoor Technologies Inc.

End Of An Era

Tonight's WWE Raw will be the last WWE show under the full majority control of Vince McMahon. End of an era.

UFC And WWE To Close Merger Next Week, Make NYSE Debut As TKO Group

UFC parent Endeavor Group and World Wrestling Entertainment said today they expect to close the planned merger of UFC and WWE on September 12. That’s on the earlier end of expectations as Endeavor said in August it expected the deal to close in mid-to-late September.

Endeavor and WWE announced a deal last spring for the Ari Emanuel-led company to take control of WWE and merge it into a new, stand-alone entity with UFC. The professional wrestling and mixed martial arts powerhouse will be called TKO Group Holdings and trade on the New York Stock Exchange. Valued at $21 billion, TKO will be a subsidiary of Endeavor, with 51% control. WWE (Raw, SmackDown) will control 49%.

Emanuel will be CEO. continue as president of UFCVince McMahon, WWE’s longtime leader, executive chairman and major shareholder, who orchestrated the deal with Endeavor, was set as executive chair of the new company’s board.

In early August, WWE announced federal law enforcement agents had executed a search warrant and served a federal grand jury subpoena on McMahon although no charges had been brought. WWE CEO Nick Khan also said then that McMahon was on a medical leave of absence until further notice following spinal surgery. launched an internal probe of McMahon in 2022 to investigate allegations of payments to women, which it found had totaled close to $20 million and that caused it to revise several quarterly financial statements. The probe wrapped up last November and McMahon paid the company $17.4 million for costs incurred.

source:  deadline.com

NFL partners with WWE on officially licensed championship belts

A WWE championship belt featuring your team’s name and logo can be yours, if you’ve got nothing better to spend $550 on.

The NFL and WWE announced today that they’ve partnered on a multi-year licensing deal to sell NFL-inspired WWE title belts featuring the official colors, names, logos and branding of all 32 NFL teams.

The belts are already for sale through the NFL’s and WWE’s merchandising sites. The price is $549.99.

This deal is the first-ever licensing agreement between the NFL and the WWE.

source:  nbcsports.com

WWE Star Bray Wyatt Dead At 36

WWE superstar Bray Wyatt, whose real name is Windham Rotunda, has died, WWE Chief Content Officer Paul "Triple H" Levesque announced on social media Thursday. Wyatt was 36.

"Just received a call from WWE Hall of Famer Mike Rotunda who informed us of the tragic news that our WWE family member for life Windham Rotunda - also known as Bray Wyatt - unexpectedly passed earlier today," Levesque wrote on X, the company formerly known as Twitter. "Our thoughts are with his family and we ask that everyone respect their privacy at this time."

The news of Wyatt’s death was a shocking and devastating revelation as a report surfaced earlier this month that the former champion was nearing a return to the ring after battling a "life-threatening illness."

Earlier in the year, Wyatt got COVID that exacerbated a heart issue. He suffered a heart attack. Pro wrestlers and fans sent their condolences across social media.

Back in October, Wyatt had made a return to the WWE in one of the most mysterious build-ups the company had done in a while. A white rabbit, mystery QR codes and other messages appeared on WWE programming leading up to Wyatt’s eventual return at Extreme Rules. The hints pointed toward his return about 15 months since he was released in July 2021.

Wyatt’s "Fiend" character was among the favorite programs that WWE ran in recent years. WWE was able to make the character thrive through the height of the coronavirus pandemic, and he was put into epic feuds with John Cena and Randy Orton.

Wyatt’s cult leader character was also well-received when it began in 2013. However, Wyatt was released on July 31, 2021. His release marked the end of a 12-year run at WWE.

After his return on the premium live event, Wyatt cut a heartfelt promo thanking fans for welcoming him back and helping him through the tough times after his release.

"I am incredibly grateful. I’m really, really nervous to be here. I never thought this would happen," Wyatt said. "This right here, this is just me OK? This is a version of me I never got to introduce to you guys before. This is just me being me – genuine me – for the first time."

Wyatt explained at the time that over the last year, he lost a lot of friends and things in his life.

"I lost my career. I lost my self-confidence. I lost two people who were very, very close to me. I lost my way," he said. "And I got to a point where I thought that everything that I’ve ever done here or otherwise, it was all meaningless. Nothing I’ve ever did has ever mattered to anyone. And I was wrong.

"Once I was done feeling sorry for myself, I decided to go out in the world again and see … people everywhere that would say, ‘Thank you Bray, man. When you coming back home?’ And then every once in a while there would be someone I would meet that would be truly remarkable, and you know who you are. But these people they would come to me. They would come to me, and they would say, ‘Bray, I just wanted to thank you, man, because I was in a time of need, and I lost people that were close to me, and I lost my self-confidence, and I felt weak, and I felt vulnerable, and in this weakened state I found your words, Bray. I found your words, and I just wanted to thank you, man. You saved my life, Bray.’

"The truth is, I don’t think about stuff like that. And the thing about that is, is that I can sit here right now today, and I can look all of you in the eyes, and I can say you were there when I was weak, when I was vulnerable, when I was down, and I just wanted to say, ‘Thank you, you all saved my life.’"

Wyatt feuded with LA Knight, which culminated in a Pitch Black match at Royal Rumble. He was set to start a program with Bobby Lashley before he reportedly fell ill.

He was angled for a September return before his unexpected death, according to Fightful Select.

Wyatt had two daughters with his ex-wife and a son and daughter with former WWE announcer JoJo Offerman. His father, Mike Rotunda, was known in the WWE as Irwin R. Schyster (IRS).

WWE Admits That Stephanie McMahon Spoke With Tubi Executive, Denies MLW’s Claim

WWE has formally denied allegations made against the company by Major League Wrestling after MLW filed an antitrust lawsuit against WWE in 2022. The lawsuit, which has since been amended and filed again after being dismissed last year, stemmed from MLW's claims that WWE prevented it from competing in the streaming market. MLW alleged that WWE pressured third parties to abandon contracts and prospective relationships with the company.

Wrestlenomics' Brandon Thurston posted a portion of new court filings to Twitter on Monday. In the documents, WWE denied the allegations. but did confirm that Stephanie McMahon spoke with a Tubi executive in August 2021. The filing denies that she pressured the streaming platform to kill a deal with MLW. The full court document can be seen online.

MLW's lawsuit alleges that Stephanie McMahon pressured the Tubi executive to "deny MLW a time slot that would compete head-to-head with WWE's NXT programs on Tuesday nights." It goes on to say "WWE threatened Tubi's affiliate, Fox, that it could lose WWE's business or preferred content if Tubi didn't acquiesce to WWE's demand and terminate its agreement with MLW." WWE formally denied these accusations.

There's no end in sight for the legal battle between WWE and MLW. According to the new filing, WWE has demanded a jury trial on "all issues so triable" in the Northern District of California where the antitrust lawsuit was filed.