Vince McMahon’s Unusual New WWE Contract Gives Him the Right to Adapt His Own Story For Film

WWE executive chairman Vince McMahon is in line for a multimillion dollar payout on top of his $2.6 billion stake — and the rights to his life story — in the event that his company gets sold.

McMahon signed a new employment agreement with the company this week, retroactive to when he returned earlier this year, and the WWE filed it with the Securities and Exchange Commission on March 30. While it’s mostly a pretty standard deal, the clause about McMahon’s potential payout in the event of a sale is notable, given that his return was precipitated in part on putting the company on the market. And a clause about McMahon’s “Life Story,” are unlike just about anything you would see at another company.

When a public company gets sold, and a senior executive gets shown the door after the sale, it’s common for them to receive a generous severance package (they are sometimes called “golden parachutes”).

Most of the time, however, those agreements don’t include the rights to make a miniseries about your life.

McMahon’s new contract runs for two years (the annual compensation package is valued at $7.6 million), with the right to be extended in one year increments after that. However, the company is on the market, and may get sold this year. WWE CEO Nick Khan told CNBC last month that McMahon is “100 percent open” to selling to a company that decides it doesn’t want to keep him around.

According to the employment agreement, McMahon would receive a $6.8 million lump cash payment in the event of a sale, plus a pro-rata payout of his incentive bonus for the year (potentially another $2.1 million). He will also see all unvested shares vest, likely delivering a $4.3 million payout if a deal closed this year.

In other words, McMahon would receive at least $11 million in the event of a sale, with additional compensation likely depending on timing and share price.

Of course, Vince McMahon is also the majority shareholder of the company, so his severance package is pocket change compared to what his equity would be worth in a sale. According to the WWE’s latest proxy filing, McMahon would receive a payout in the ballpark of $2.6 billion if the WWE sold at its current $90.60 share price (as of writing).

Earlier this month McMahon actually paid the company $17.4 million for costs it incurred related to its misconduct investigation of him, so most likely his severance payment wouldn’t even cover those costs.

But it is the section about the “McMahon Intellectual Property and Life Story” that is unusual for an employment agreement like this one. McMahon has run the WWE for decades, and has long appeared in the ring as a performer (his stage name is “Mr. McMahon”), and the agreement guarantees him (and his successors) the right to his own IP, while he gives the company the right to use his IP on a non-exclusive basis. His previous employment agreement granted the company rights to commercial works based on his life.

“The Company further acknowledges and agrees that McMahon will have the exclusive right to communicate, convey, commercialize, license, or otherwise exploit his life story … including without limitation any books (memoir, biography, autobiography, etc.), articles or essays, audio recordings, audiovisual works (documentary, biopic, scripted program, dramatization, fictionalization, etc.) (the ‘Life Story Rights’),” per the contract.

In addition, the company waives any claims “relating to confidentiality, non-disparagement, non-competition, or other restrictive covenant or affirmative undertaking binding on McMahon that results from any content, communication, or action in connection with any exercise of the Life Story Rights and any embodiments thereof.”

In other words, McMahon would have wide leeway to tell his story without fear of a lawsuit from the WWE.

While McMahon has not appeared on any WWE programming since returning in January, and while his son-in-law Paul Levesque (stage name: “Triple H”) is currently running WWE creative, McMahon’s contract leaves open the possibility that he could perform on-camera or work on the creative side of the business again, and gives the company full right to those works.

The contract gives the company the rights in perpetuity to “McMahon’s writing, appearances, performances, and creative director work product, the Events, and the Footage… (including without limitation all storylines, incidents, dialogue, characters, actions, routines, ideas, gags, costumes or parts of costumes, accessories, crowns, Inventions (as defined below), championship, title or other belts (if applicable), and any other tangible or intangible materials written, composed, submitted, added, improvised, or created by or for McMahon in connection with his appearance at the Events and/or in the Footage),” during his tenure as executive chairman.

Tim White to be posthumously inducted into the WWE Hall of Fame Class of 2023

Potential WWE Buyers May Want To See Stephanie McMahon Return

As reported earlier, on CNBC's "Squawk On The Street" Financial reporter David Faber, revealed that WWE sales talks are "going quite well" and there are several interested parties, including Endeavor, Liberty Media, and the Saudi Arabia Public Investment Fund. Like Faber, WWE's CEO Nick Khan also shared a positive outcome for WWE. As reported earlier today, Khan said to the Sports Business Journal, that he thinks that WWE is "in a good position."

Fightful Select has shared more insight behind the potential WWE sale and those who are interested in the company. One insight is that business is supposed to "pick up," due to WrestleMania being in Los Angeles, California. Numerous sources that are related to the list of rumored buyers, reportedly told Fightful that they are interested in having Stephanie McMahon return. Stephanie of course stepped down as the co-CEO of WWE back in January, which made Khan the sole CEO of WWE. A source from Disney noted how "the companies are following the news cycles and are aware of what makes the audience and staff happy." Stephanie seemed to have brought a lot of positives to the company. 

Fightful also spoke with multiple sources within Comcast, though it's worth noting that CNBC in the past has stated that Comcast was not interested in buying WWE. The sources within Comcast revealed that even though they had a relationship with Vince McMahon through NBC and USA Network — there is "no desire" to keep him involved in WWE. WWE's media rights deal with Comcast also is up in 2024. 

WWE’s WrestleMania extravaganza draws sponsors to the ring

WWE’s WrestleMania, the Super Bowl for the sports entertainment company, arrives this weekend to a massive audience and vastly larger sponsorship revenue as it seeks to establish itself as a serious contender for major dollars from such partnerships.

Craig Stimmel, WWE’s senior vice president and head of global sales and partnerships, told The Associated Press in an interview that sponsorship revenue for this year’s event has doubled to more than $20 million, a record for any WWE event.

Those numbers are critical in light of the return in January of Vince McMahon, the founder and majority shareholder of WWE, who said the sports entertainment company could be up for sale...More?

source:  apnews.com

WWE CEO Nick Khan Comments On WWE Media Rights Negotiations

As rumors and reports continue to surface regarding WWE‘s media rights negotiation and a potential sale, WWE CEO Nick Khan spoke to Sports Business Journal about the company’s position heading into negotiations.

On the topic of the company and its position as it heads into a new round of media rights negotiations, Khan said that he thinks the company is “in a good position” thanks to its ratings and its relevance, Khan also noted that he thinks they could come to a decision toward the middle of the year.

“If you look at the ratings and relevancy of our product, we like to think we’re in a good position,” said Khan. “We look to get into the heat of the conversation first with our incumbents by the middle of the year or so. Depending on the timing and how strategic alternatives shake out, it will be either be middle of the year getting hot and heavy, or some time shortly thereafter.”

When it comes to competing against the likes of NASCAR and the NBA — which will also see its own media rights come up alongside WWE — Khan said that he thinks “there’s plenty of money out there for us.” He also touched on the potential sale of WWE, noting that it might be tricky navigating both a sale of the company as well as new media rights negotiations.

“That’s probably the trickiest of all the parts, but one thing that all potential buyers know is that the rights that Fox and NBCU negotiated for separately will obviously have to be adhered to and respected with all sorts of good faith attached to that,” Khan said.

Stacy Keibler announced for WWE Hall of Fame, Class of 2023

WWE receives $17.4M from McMahon for investigation costs

Executive Chairman Vince McMahon has paid World Wrestling Entertainment (NYSE:WWE) $17.4M to reimburse the company for costs it incurred in a special committee investigation, and related matters including revising financial statements.

In an SEC filing, WWE noted it's received the $17.4M payment in accordance with a March 20 agreement, and that McMahon will review in good faith and reimburse the company for additional connected costs beyond Jan. 31, 2023.

WWE last year launched a board investigation into a secret $3M settlement between McMahon and a departing employee with whom he had allegedly had an affair - and the probe expanded in scope as more allegations were reported.

McMahon stepped down from the CEO and chairman roles at the company, planned to retire, and later returned to reclaim the role of chairman.

Andy Kaufman To Be Inducted Into WWE Hall Of Fame

Vince McMahon Biopic Will Not Happen Confirm Directors

A biopic based on Vince McMahon which had been in pre-production since 2017 has been nixed.

The movie titled "Pandemonium" once rumored to have Bradley Cooper playing McMahon will no longer be progressing any further.

During a recent interview with Slash Film the directors John Requa and Glenn Ficarra noted that, "Pandemonium is dead, sadly”.

Requa then added, "Vince killed it."

The film was required to be signed off by WWE Studios and Vince McMahon himself. Requa places the blame firmly with McMahon:

"So, yeah, we are on a very long list of people who got f***ed over by Vince."

A planned Vince McMahon Netflix series is reportedly in the works.

The Great Muta To Be Inducted Into WWE Hall of Fame

 

ESPN reports that The Great Muta is set to be inducted into the WWE Hall of Fame as part of the Class of 2023. The announcement was made by Ric Flair on today’s episode of The Bump. Muta never appeared for WWE, but has wrestled for WCW, which WWE now owns. He also regularly competed for NJPW, Pro Wresting NOAH and more.

Rey Mysterio is the 1st inductee for the 2023 WWE HOF

WWE in talks with state gambling regulators to legalize betting on scripted match results

WWE is in talks with state gambling regulators in Colorado and Michigan to legalize betting on high-profile matches, according to people familiar with the matter.

WWE is working with the accounting firm EY to secure scripted match results in hopes it will convince regulators there’s no chance of results leaking to the public, said the people, who asked not to be named because the discussions are private. Accounting firms PwC and EY, also known as Ernst & Young, have historically worked with award shows, including the Academy Awards and the Emmys, to keep results a secret.

Betting on the Academy Awards is already legal and available through some sports betting applications, including market leaders FanDuel and DraftKings, although most states don’t allow it. WWE executives have cited Oscars betting as a template to convince regulators gambling on scripted matches is safe, the people said.

Still, while Academy Awards voting results are known by a select few before they’re announced publicly, they aren’t scripted by writers. Even if regulators allow gambling, betting companies would have to decide if they’re willing to place odds on WWE matches even if it’s legalized. Those discussions have yet to occur at betting firms, according to people familiar with the matter.

A WWE spokesperson declined to comment. A spokesperson for EY couldn’t immediately be reached for comment.

source:  cnbc.com

Wells Fargo Analysis Says Fox Unlikely To Renew WWE SmackDown At Increased Rights Fee

WWE's domestic television rights are up for negotiation and renewal this year for broadcasts effective September 2024. This is at least the stated reason for why Vince McMahon returned to the company's board of directors, to steer an attempt to sell the company. In particular, given the expense of sports media rights, the idea was that one distribution partner might entertain buying the company outright. Last month, though, that idea was complicated by the report that Comcast — one of the most theoretically likely buyers, with its approximately $465 million/year commitment for "WWE Raw" on USA Network and WWE Network on Peacock – was not interested in buying the wrestling company. 

On Tuesday, a new wrinkle surfaced that throws another wrench into what's going on: If Fox were to renew "WWE SmackDown," it would not be at an increased rate over its current $205 million/year.

Forbes SportsMoney editor Mike Ozanian tweeted a screenshot from a presentation generated by Wells Fargo Securities analysts about WWE's domestic media rights prospects. The main takeaway was that they don't think Fox is willing to do a new deal at a higher price. He adds that it's "possible" that this could lead to the price of "SmackDown" being partially underwritten by a streaming partner in the new contract or the show outright leaving its current spot on Fox.

In May 2018, The Hollywood Reporter, in detailing the WWE/Fox negotiations, noted that Fox Corporation chairman Rupert Murdoch played heavily on the McMahon family's insecurities during their talks, including that Comcast/NBC Universal was "embarrassed by your product." His son, CEO Lachlan Murdoch, laid it on thicker, reportedly adding that, in reporter Marisa Guthrie's words, that the deal "would herald the marriage of the Murdochs and the McMahons, rebel outsiders who had built media empires."

MLW’s Amended Lawsuit Against WWE, Details On Alleged Talent Tampering

PWInsider has more details from MLW’s amended lawsuit against WWE. As noted, MLW has filed a 44-page amended lawsuit against WWE which adds more detail and arguments regarding WWE’s alleged violation of the Sherman Act regarding anti-trust practices and more.

The amended lawsuit focuses its anti-trust arguments on how companies monetize their content and how WWE ices out other companies in their practices. The suit argues that pro wrestling companies need to strike media rights deals to be successful and that WWE has taken actions that make that almost impossible, which has hurt MLW and other possible competitors. It maintains its previous claims that WWE’s involvement caused the FOX-owned Tubi to cancel their contract with MLW the night before a deal was set to be announced between them, as well as the allegation that Vice backed away from a deal with MLW after a WWE executive told Vice that Vince McMahon was unhappy they were working together. The suit argues that with A&E owning a minority share in Vice, their connection to WWE through the WWE programming block on Sundays hurt MLW’s tanding with the network. While all the financial information from the Tubi deal and their current deal with Reelz are redacted, it is noted that:

“In sum, WWE’s predatory and unfair anti-competitive conduct in the Relevant Market is multi-faceted, with the intent and effect of expanding and maintaining its market power. This conduct includes, but is not limited to: (1) substantially foreclosing the Relevant Market through maintaining exclusivity agreements with major media companies and interfering with competitors’ media rights deals; (2) substantially increasing barriers to entry in the Relevant Market by raising rivals’ costs and restricting their access to the critical and scarce inputs required for professional wrestling programming, namely athletic performers with the requisite physical skills, acting talent, and marketability to be professional wrestlers, including by hiring away rivals’ wrestlers and not using them and by threatening to never hire talent that previously signed with rivals (“blacklisting”); and (3) blocking and foreclosing the access of rivals to professional wrestling venues, which are necessary for the production of professional wrestling programming. The combined effect of the conduct is that WWE has maintained its dominant market power.

Through its predatory and exclusionary conduct and abuse of its market power, WWE has substantially harmed competition in the Relevant Market by depriving MLW and other competitors of access to key media distribution platforms. Its conduct has harmed purchasers of media rights for professional wrestling programming by depriving them of programs and enabled WWE to impose and maintain supracompetitive prices, and in turn has harmed wrestling fans by reducing their choices and quality of professional wrestling programming and increasing their costs of consuming that content.

As a result of WWE’s anti-competitive and predatory conduct, MLW and other professional wrestling promotions have suffered and will continue to suffer substantial monetary damages and irreparable harm.”

The lawsuit also goes into specific details regarding WWE’s alleged tampering with talent contracts, claiming that former talent relations head Canyon Ceyman encouraged Swerve Strickland to get out of his deal with MLW so he could sign with WWE. It also alleges that WWE hired Davey Boy Smith Jr. away from MLW but then never used him outside of a dark match, which they argue makes it clear that WWE was intending to impair their ability to build themselves up. PWInsider notes that Smith is not identified as a former WWE star and a WWE legacy talent, and that WWE could argue that they knew of Smith long before he worked for MLW.

The suit also points out that AEW has reached out to WWE demanding that they not tamper with talent contracts, which appears to be referencing the AEW talent meeting where Tony Khan revealed that AEW legal head Megha Parekh emailed Stephanie McMahon and Nick Khan telling them to stop contacting AEW-contracted talent.

The lawsuit also details some of the history of wrestling in the early 200s when WCW and ECW fell and were acquired by WWE, pointing out that WWE moving to TNN in 2000 directly contributed to ECW’s death and WWE acquiring the company’s assets in bankruptcy court.

The lawsuit also makes additional allegations of WWE blocking venue bookings beyond the previously-noted claim that Triple H contacted Madison Square Garden to get the ROH/NJPW G1 Supercard blocked in 2019. The suit claims that WWE prevented AEW Dynamite tapings from taking place at Heritage Bank Center in Cincinnati, Ohio in 2019 and 2020. It also argues that WWE has run events opposite AEW PPVs to attempt to prevent those shows from being profitable.

Sonya Deville Arrested For Carrying A Firearm Without Proper Permit

Sean Ross Sapp of Fightful shared the news that Daria Berenato, also known as WWE star Sonya Deville, was arrested in New Jersey for carrying a firearm without having a proper permit. The firearm was in her vehicle, and while Deville has a permit in Florida, it was not valid in New Jersey.

Sapp cited sources who noted that Deville was celebrating with her fiancee, following their recent engagement, and a valet found the gun in the glove box of the vehicle. Police arrived on the scene on February 19 and subsequently arrested Deville.

Per court records, she is due in court in March, as she has been charged with one count of unlawful weapon possession – handgun without a permit. She is reportedly trying to have the case thrown out. TMZ reported that Deville started carrying the weapon for protection after she dealt with a stalker who later tried to invade her home.

Additionally, Sapp cited WWE sources who indicated that there is no heat on Deville, as they understood why she would want to protect herself following the aforementioned situation.

Deville was the victim of an attempted kidnapping in August 2020, as a man was arrested after he broke into her home. The perpetrator pled not guilty after he was subsequently charged with armed burglary of a dwelling, attempted armed kidnapping, aggravated stalking, and criminal mischief for breaking into her home. He was later deemed incompetent to stand trial and sent to an institution.

SHIMMER Original Cheerleader Melissa To Be Inducted Into Indie Wrestling Hall Of Fame

Last year marked the inaugural class of the Indie Wrestling Hall of Fame. GCW found relative success with the concept and has begun assembling the Class of 2023 for this year's induction over WrestleMania weekend. Previously, Christopher Daniels was announced as being up for the prestigious honor, and it looks like he'll be joined by some solid company.  Yesterday, GCW announced the Cheerleader Melissa, one of the pioneers of modern-day women's wrestling in the United States, would be a part of this year's class.  

Trained by Daniels, Bryan Danielson, and Robert Thompson, Cheerleader Melissa broke into the Southern California wrestling scene in 2001. However, it wouldn't be until late 2006 that she really began gaining notoriety. That's when she began working for the all-women's promotion SHIMMER, run by both Prazak and Allison Danger. For the next 13 years, Melissa would serve as one of the promotion's most significant stars, winning the SHIMMER Championship twice and the SHIMMER Tag Team Championships once with Mercedes Martinez.

Her success in SHIMMER led to her signing with TNA in 2008, where she portrayed both Raisha Saeed, a Syrian wrestler who wore a niqāb to disguise her appearance, and Alissa Flash. She requested her release from the promotion in 2010 and continued to wrestle independently before joining Lucha Underground in 2015 as the sister to Marty "The Moth" Martinez, Mariposa. She would remain with LU till its final season concluded in 2018.

Though she hasn't officially retired, Melissa hasn't wrestled since November 2019. Fittingly, her last match to date was in SHIMMER, where she wrestled Shazza McKenzie, Elayna Black, Kris Statlander, Nevaeh, and Skylar in a Scramble match

WWE Breaks All-Time Gate & Viewership Records at Elimination Chamber

WWE today announced that the 2023 Elimination Chamber, which emanated from the Bell Centre in Montreal, became WWE’s highest-grossing and most-viewed Elimination Chamber in company history.

Viewership of the 2023 Elimination Chamber saw a 54 percent increase versus the previous record set in 2022. It also marked the largest gate ever for any WWE event held in Montreal and the largest gate in the history of Elimination Chamber.

In addition, 2023 Elimination Chamber broke the all-time event merchandise record and generated the highest-grossing Priority Pass fan experience packages for any non-”Big Five” premium live event through WWE’s partnership with On Location. Elimination Chamber sponsorship revenue was up nearly 300 percent versus 2022.

On social, content featuring WWE Superstars Roman Reigns and Sami Zayn generated nearly 20 million views across WWE’s social platforms. 

Eric Bischoff Says Triple H Taking Over WWE Creative Has Paid 'Huge Dividends'

While on "83 Weeks," WWE Hall of Famer Eric Bischoff weighed in on Triple H taking over as Chief Content Officer, and what he heard in Triple H's voice at the post-Elimination Chamber press conference. "If anything came through in that press conference from Triple H, at least, one word to define it and that would be passion," Bischoff said. "If anybody's got any doubt about how and why WWE has turned things around so quickly over the last six or nine months, creatively speaking, I would say Paul Levesque and team ... are probably now being able to do what they're capable of doing without the kind of duress of tearing up scripts the day of the show and, you know, panicking over grammar and rough drafts and things like that. It's like, all of their focus is on the story itself and the quality of that story and it just paid huge dividends."

Triple H Comments On Potential Sale Of WWE

Triple H says he’s focused on doing his job to the best of his ability.

During his Elimination Chamber post-show press conference, Triple H was asked by Brandon Thurston of Wrestlenomics if he was in favor of a WWE sale prior to Vince McMahon’s return, or if he was still in favor. Triple H said that there are plenty of variables to consider, but he is OK with whatever situation allows him to keep doing his job.

“Depends on who’s buying, I suppose, what the offer is, what the outcome is. I stay out of it. That’s not a cop-out answer. I have the greatest gig in the world. I helped, in some small way, create the magic we did here tonight. And to me, it’s the best gig on the planet,” he said.

“As long as we get to do this, as long as we get to create it the way we get to create it, as long as we get to do our jobs and we get to go out there and put our passion on display,” Triple H explained, “as long as our talent is allowed to put their passion on display and do what we do, I’m good. I’m good. It is what it is.”

McMahon seeking up to $9B for World Wrestling Entertainment

World Wrestling Entertainment has already fielded offers for a sale - and Executive Chairman Vince McMahon is reportedly pushing to get up to $9B for it.

That would mark up to a 37% premium to current market value of $6.5B - and a high multiple for an entertainment name.

The list of potential buyers includes Endeavor Group Holdings (EDR), already the owner of Ultimate Fighting Championship, Bloomberg reported, though Endeavor (valued at $10.4B) would need help from a third party.

WWE stock (WWE) jumped 2.5% following the report.

The shortlist also includes investors from the Middle East, though after that region has increased its investments in sports including golf and soccer. Saudi Arabia in particular has funded the LIV Golf circuit and has expressed interest in buying Formula One (FWONA).

Bigger strategic buyers, like Netflix (NFLX) or Walt Disney (DIS), might be uneasy taking on McMahon as a partner in a business that is sometimes messy and personal, Bloomberg noted.

source: seeking alpha

MLW's Antitrust Lawsuit Against WWE Dismissed By Judge For Now

Major League Wrestling suffered a major setback in its antitrust lawsuit against WWE on Tuesday, albeit with a small amount of room left for some hope. That's because United States District Court Judge Edward J. Davila dismissed the suit while also giving MLW 21 days to submit an amended complaint in the process. (News of the dismissal was first reported by Brandon Thurston of Wrestlenomics.) It is in that amended complaint that MLW can attempt to address the deficiencies that WWE cited.

The heart of the suit was the claim that WWE interfered in MLW's dealings with both VICE TV (which is partially owned by A&E) and Tubi (owned by Fox), costing MLW vital rights fees and television exposure. WWE argued that MLW's claims of antitrust violations were not sufficient violations of the Sherman Act, the relevant piece of federal law, asserting that MLW did not plausibly claim "(1) a relevant market; (2) monopoly power; or (3) antitrust injury." Citing a ruling in the ongoing UFC fighter antitrust lawsuit, Judge Davila noted that MLW had not provided an adequate explanation of the specifics of the market for pro wrestling and other sports entertainment content. This is the kind of thing that could be remedied in an amended complaint, though, which is why MLW has three weeks to put one together. Because of the dismissal, Davila denied WWE's two pending motions regarding the discovery (deposition, document production, etc.) process, which pertained to setting a discovery schedule and barring discovery until the motion to dismiss was decided.

MLW debuted on REELZ last week. Its premiere episode averaged 79,000 viewers overall in the Nielsen ratings, with a 0.03 rating in the key demographic for adults aged 18 to 49. Among cable originals, it placed 132nd for the day in the key demo.

WWE Board Members George Barrios And Michelle Wilson Announce New Venture

Following their departure from WWE in 2020, wrestling fans probably thought they had heard the last of George Barrios and Michelle Wilson. Now it seems they can't stop hearing about them. Barrios and Wilson made their sudden return to WWE's Board of Directors in January, following VInce McMahon's re-ascension to Chairman, and now they're making more moves, this time with NBA great Carmelo Anthony. In a press release on Friday, Barrios, Wilson, and Anthony launched Isos7 Sports Investment, a new venture looking to "provide growth capital, targeting $50 million to $100 million per investment, to a diversified portfolio of sports leagues, teams, emerging properties, and ancillary businesses in North America, Europe, and pan-Asia." It was also noted that the venture is looking to have access to over $750 million in capital.

"We believe sports assets will continue to benefit from global macro tailwinds and secular industry trends driving significant, predictable, and stable growth," Barrios and Wilson explained. "We are thrilled to partner with Carmelo, a trailblazer for athletes in investing, business development, and philanthropy. We have a shared vision for how a new wave of diverse investors will identify global growth opportunities and impact the marketplace."

In addition to Barrios, Wilson, and Anthony, the venture will also see Brian Flinn serve as a partner for Isos7, with Flinn overseeing investment and operation teams. Flinn is connected to both Anthony and Barrios/Wilson; he previously worked with Anthony's former team, the New York Knicks, served as the former SVP & Global Head of Marketing for the NBA, and was also Chief Marketing Officer at WWE. As of this writing, it's unclear what effect, if any, this new venture will have on Barrios or Wilson's duties as part of WWE's Board.

Booker T's Wrestling Promotion Announces WWE NXT Partnership

WWE Hall of Famer Booker T's wrestling promotion, Reality of Wrestling (ROW) announced on Saturday evening that it's going to be working with "WWE NXT." Their working relationship will start next Saturday, February 11 in Texas City, Texas with WWE "NXT" star and Diamond Mine member Ivy Nile set to be in action.

The "NXT" color commentator started his training school/promotion in 2005. He commented about Saturday's news on social media, noting how excited he was to merge his "NXT" favorites with the roster of his students. 

"Excited to merge my @WWENXT favorites with the roster of my students at @TheOfficialROW! Don't miss a HUGE show next Saturday! Can't wait to see @ivynile_wwe in the World Gym Arena," tweeted Booker T. 

Nile also reacted to her upcoming match, tweeting, "Let's goooooo. See you guys next Saturday!!"

One of ROW's most notable members is current "NXT" Women's Champion Roxanne Perez. Perez was just a teenager when she joined the promotion and during her time there, she held the ROW Diamonds Division Championship. After ROW and before WWE, she went to Ring of Honor and became the inaugural ROH Women's World Champion.

Batista Believes Triple H Being In Charge Is The Best Thing For WWE

Batista recently spoke with Comicbook.com about the new direction of WWE under Triple H. The former WWE Champion believes Triple H is the best man for the job.

On Triple H leading the company:

"I think this is the best thing for the company. It really is. It’s a personal thing with me because I know Triple H. I know how well he knows this business. I know how much he loves this business. As far as this business goes, he’s the smartest guy I’ve ever met in my life."

On how Triple H helped him:

"He made me who I was. He was responsible for my career. I’ve never been ashamed to say that. I think that he is so dedicated to this product and just wants the best for it. I think he’s absolutely the right person. I’ve never met anyone else who thinks the way he does, as far as wrestling goes."

WWE To Celebrate 20th Anniversary of Evolution This Week

WWE issued the following:

Twenty years ago this month, one of the most dominant factions in WWE history stormed onto the scene with the emergence of Evolution.

Led by Triple H, Evolution represented the best of the past, present and future of sports-entertainment in 2003, combining The Game and 16-time World Champion Ric Flair with two potent newcomers who’d go on to become legends in their own right, Batista and Randy Orton.

The group steamrolled competition on Raw during The Ruthless Aggression Era — at one point, all four members held championship gold simultaneously — all while flaunting their enviable lifestyle, whether it was designer clothing, luxury cars or a custom entrance song performed by Motörhead. After disbanding in 2005, Evolution reunited a handful of times throughout the years, most recently at SmackDown 1000 in 2018.

In celebration of the 20-year anniversary of Evolution’s formation, WWE social channels will be paying tribute to the groundbreaking faction all week long. Be on the lookout for classic full-length matches, a special Evolution-themed episode of WWE Playlist, rare photos and be sure to join the festivities by sharing your favorite memories of the group using hashtag #EvolutionWeek.

WWE's Royal Rumble smashes its records for gate, viewing

WWE today announced that the 2023 Royal Rumble, which emanated from the Alamodome in San Antonio, Texas, became WWE’s highest-grossing and most-viewed Royal Rumble in company history.

The event set a new all-time gate record at more than $7.7 million, far surpassing the previous Royal Rumble high in 2017 by more than 50 percent. Viewership of the event saw a 52 percent increase versus the previous record set in 2022.

In addition, the 2023 Royal Rumble broke all-time venue merchandise and sponsorship records. Merchandise sales were up 135 percent versus the record set in 2022. Royal Rumble sponsorship revenue was up nearly 200 percent versus 2022 and featured the first-ever sponsored match (MTN DEW PITCH BLACK) and sponsored countdown clock (Applebee’s).

On social, the Roman Reigns-Sami Zayn videos generated 20 million-plus views across all WWE platforms and became the most-viewed WWE clip of 2023. Additional highlights include Logan Paul and Ricochet’s high-flying collision which amassed 26.5 million views across WWE and Paul’s platforms, and the launch of Reigns’ TikTok account which netted 100K followers in the first 24 hours.

Paul ‘Triple H’ Levesque Has Big Plans in Store for the WWE. What Happens Now That Vince McMahon Is Back?

Raw XXX delivers highest domestic gate in history of Monday Night Raw

Raw XXX was a defining night for the red brand and delivered the highest domestic gate in the history of Monday Night Raw.

A sell-out crowd at the Wells Fargo Center in Philadelphia witnessed Sami Zayn's Tribal Court, an iconic moment shared between Bray Wyatt and The Undertaker, a joining of DX and Kurt Angle, the return of The Beast Brock Lesnar and much more.

Vince McMahon No Longer Needs WWE Stockholder Approval For His Actions

A new SEC filing has revealed that Vince McMahon no longer needs stockholder approval for any actions related to WWE.

WWE published a new SEC filing summary that showed Vince McMahon, the majority shareholder of WWE, successfully petitioned to no longer need approval from stockholders for his actions related to the company.

On January 5, 2023, Vincent K. McMahon, the controlling stockholder of World Wrestling Entertainment, Inc. (the “Company”), executed and delivered a written consent (the “January 5th Consent”) taking certain actions by consent without a meeting in accordance with Section 228 of the General Corporation Law of the State of Delaware (the “DGCL”) resulting in, among other things, the election of Mr. McMahon to the Board of Directors of the Company (the “Board”) and certain amendments to the Company’s bylaws (the “January 5th Amendments”) that Mr. McMahon indicated were intended to ensure that the Company’s corporate governance continued to properly enable and support stockholder rights. On January 6, 2023, the Company issued a press release providing an update regarding the composition of its Board, including Mr. McMahon’s return to the Board, and the Company’s intention to explore strategic alternatives with the goal to maximize value for all stockholders of the Company. On January 9, 2023, the Board elected Mr. McMahon as Executive Chairman of the Board.

Subsequently, Mr. McMahon informed the Company of his view that there is substantial alignment among the Board and management concerning the decision to conduct a review of strategic alternatives amid the Company’s upcoming media rights cycle and that the Company’s corporate governance will properly enable and support stockholder rights. In light of the foregoing, on January 16, 2023, Mr. McMahon, in his capacity as controlling stockholder of the Company, executed and delivered a written consent (the “January 16th Consent”) taking certain actions by consent without a meeting in accordance with Section 228 of the DGCL to substantially repeal the January 5th Amendments, as further described below in Item 5.03.

No further approval of the stockholders of the Company is required to approve any of the actions taken by Mr. McMahon pursuant to the January 16th Consent. Pursuant to rules adopted by the U.S. Securities and Exchange Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company expects to file with the SEC, and thereafter mail to its stockholders, an information statement as required by Schedule 14C promulgated under the Exchange Act to provide stockholders with information concerning the January 5th Consent and January 16th Consent. The Schedule 14C will also constitute notice to stockholders in accordance with Section 228 of the DGCL of the actions taken by the January 5th Consent and the January 16th Consent.

The information set forth in the Introductory Note of this Current Report on Form 8-K is incorporated by reference into this Item 5.03.

Effective January 16, 2023, pursuant to the January 16th Consent, Mr. McMahon repealed all of the January 5th Amendments (which were incorporated into the amended and restated bylaws of the Company filed with the SEC on January 11, 2023 as Exhibit 3.1 to the Company’s Current Report on Form 8-K) other than Article XI (Exclusive Forum), which designates (i) the Court of Chancery of the State of Delaware, to the fullest extent permitted by law, as the sole and exclusive forum for the resolution of, among other claims, any derivative action or proceeding brought on behalf of the Company, and (ii) the federal courts of the United States of America, to the fullest extent permitted by law, as the sole and exclusive forum for any cause of action arising under the Securities Act of 1933, as amended (the Company’s bylaws, as amended and restated as a result of the January 16th Consent, are referred to as the “Amended and Restated By-Laws”).”

McMahon returned to WWE this month and stated his primary goal was to oversee the next WWE media rights negotiations and a potential sale of the company. Since then, Stephanie McMahon resigned from the company and Vince McMahon was unanimously elected as WWE Executive Chairman of the Board on January 10. It’s since been reported that McMahon has resumed working at WWE offices and recently made some creative suggestions for WWE television, but other WWE officials including Triple H and Kevin Dunn maintain that McMahon does not have final approval.

What Triple H Told WWE Talent Before Tonight's SmackDown

There has been a lot of uncertainty since Vince McMahon returned to WWE. McMahon revealed his intention to return last month in letters exchanged with WWE's Board of Directors. While the board was initially unanimously against McMahon's return, he found his way back as the company's Executive Chairman.

Many have wondered what that would mean for WWE's creative direction. Paul "Triple H" Levesque took on the role of Chief Content Officer after McMahon left the company back in July. While McMahon has insisted that his reason for returning is to help secure a new media rights deal, and to help facilitate a possible sale, some have theorized that his ultimate goal is to once again run the creative team.

Fightful is reporting that Levesque held a talent meeting hours before the January 13 episode of "SmackDown," which emanates from the Resch Center in Green Bay, Wisconsin. The report notes that Levesque told talent that McMahon is back to "lead the charge" and figure out who to sell the company to if a deal were to take place. It was also said that Levesque tried to pour cold water on reports that a sale was already a done deal.

The report mentioned that Levesque assured talent that nothing that is going on with McMahon will impact the creative direction of the main roster shows. "Triple H" admitted that anything can change, but for now, he's still in charge of the company's creative direction. Levesque reportedly thanked the talent and said he understood why there would be concern backstage.

Rumor Mill - Stephanie McMahon and Triple H had opposed a sale of WWE

Axios.com featured a piece on all the rapidly developing twists and turns within WWE corporate over the last week that originated with Vince McMahon forcing himself back into a major role in the company to potentially faciliate a sale.

Interesting to note that in their coverage, it is noted, "Sources told Axios that Stephanie McMahon and her husband Paul "Triple H" Levesque, the company's chief content officer and a retired professional wrestler, had opposed a sale."

Should that be accurate, it certainly adds a new dimension to Stephanie McMahon's decision to resign from the company earlier this week.

WWE Board of Directors unanimously elected Vince McMahon Executive Chairman of the Board; Stephanie McMahon Resigns

WWE today announced that its Board of Directors unanimously elected Vince McMahon Executive Chairman of the Board.

Stephanie McMahon has resigned from her roles as Chairwoman and Co-CEO.

Nick Khan will serve as WWE CEO.

Vince McMahon:

“First, I’d like to express my full support for Stephanie’s personal decision. I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE. Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.

“I’m proud to announce that Nick Khan will serve as WWE CEO. Nick’s business acumen and mastery of the media industry have helped catapult our business to record revenue and profitability. Together, we look forward to working with the Board at this critical moment in time to review our strategic alternatives and maximize value for all WWE shareholders.”

Stephanie McMahon:

“I cannot put into words how proud I am to have helped lead what I consider to be the greatest company in the world and I am confident WWE is in the perfect position to continue to provide unparalleled creative content and drive maximum value for shareholders.”

Nick Khan:

“Stephanie McMahon is a terrific executive and an even better person. It has been an honor to serve as Co-CEO with her. She will only continue to succeed.

“I’m grateful to Vince McMahon and our Board of Directors for their ongoing support. I look forward to continuing to work closely with them and my WWE colleagues to ensure our company may thrive as the premiere powerhouse in sports entertainment for years to come.”