WWE & Vince McMahon Statements On Grand Jury Subpoena, Search Warrant

WWE revealed in their latest earnings report that Executive Chairman Vince McMahon was served with a search warrant and federal grand jury subpoena on July 17. In an update, both WWE and McMahon have provided statements pertaining to the subpoena.

McMahon stated, "In 2022, WWE formed a special committee to review allegations of misconduct against me. That review was concluded in November 2022 following an extensive investigation. Throughout this experience, I have always denied any intentional wrongdoing and continue to do so. I am confident that the government's investigation will be resolved without any findings of wrongdoing. I am focused on completing the recovery process from my recent spinal surgery and on closing our transaction with Endeavor, which will create one of the preeminent global sports and entertainment brands."

WWE responded, "We believe this is a continuation of the investigation that commenced last summer. WWE has cooperated throughout and fully understands and respects the government's need for a complete process."

No charges have been filed against McMahon as of this writing. The details of the warrant and subpoena are currently unknown, although it has been publicized for more than year that the 77-year-old has been under investigation for hush money allegations pertaining to sexual misconduct.

McMahon underwent major spinal surgery on July 21, just mere days after being served the warrant. He is currently on medical leave until further notice. WWE confirmed that McMahon will remain Executive Chairman during this time as the company continues closing in on its merger deal with UFC under Endeavor.

WWE boss Vince McMahon hit with federal grand jury subpoena and search warrant

Federal law enforcement agents executed a search warrant on World Wrestling Entertainment

Vince McMahon last month and served him with a federal grand jury subpoena, the company disclosed Wednesday.

The actions represent an escalation of an ongoing investigation into allegations that McMahon paid millions of dollars over the years to women after being accused of sexual misconduct.

WWE also revealed Wednesday that McMahon “went on medical leave after undergoing major spinal surgery.”

McMahon’s leave began July 21, and he will “remain on medical leave until further notice but will remain Executive Chairman” of WWE, the company said in its quarterly report to the Securities and Exchange Commission...More?

source:  cnbc.com

WWE Executive Chairman Vince McMahon on Medical Leave “Until Further Notice” Following Surgery

The WWE said in a footnote to a SEC filing that federal agents executed a search warrant and served a federal grand jury subpoena on McMahon July 17...More?


source: hollywoodreporter.com

WrestleMania Generated $215 Million For the Los Angeles Region

WWE continues to tout the success of its second quarter earnings. On Wednesday, the company announced that WrestleMania 39 generated $215 million in economic impact for the Los Angeles region. WrestleMania events spanned several days in the "City of Angels" with "WWE SmackDown," the WWE Hall of Fame induction ceremony, NXT Stand and Deliver, the two-night WrestleMania event, and "WWE Raw" the following Monday, plus other local events.

Applied Analysis conducted the economic impact study. With that being said, WrestleMania 39 broke the record from the year prior when WrestleMania 38 brought $206.5 million in economic impact for the Dallas/Arlington region in Texas. It was also noted in WWE's press release that WrestleMania events have generated more than $1.2 billion in cumulative economic impact for host cities since 2016.

Other statistics from the study found that out-of-town visitors stayed for an average of four nights in Los Angeles. More than half of the attendees came from outside of southern California and 15% of fans traveled from international markets.

WWE previously announced that WrestleMania 39 brought in $21.6 million in ticket sales, which was a 27% increase from the previous record and made it the highest-grossing WWE event of all time. They also sold 20% more merchandise than the year before. Night One drew 80,497 attendees, while Night Two drew 81,395 for a combined attendance of 161,892.

WWE Executive Chairman Vince McMahon Has Major Spinal Surgery

Vince McMahon, WWE's former CEO and current executive chairman, reportedly underwent a major surgical operation on his spine recently. According to TMZ, which cited sources close to McMahon, the procedure took place last week and lasted more than four hours. The outlet reported that the operation was considered successful, and that McMahon has been recuperating in the time since.

Wrestling Inc. reached out to WWE; a spokesperson said the company has no statement at this time but acknowledged that the facts of TMZ's report are believed to be true.

Happy Birthday Triple H

Paul Michael Levesque
July 27, 1969

Shawn Michaels Comments On Members Of D-Generation X Running WWE

Between Triple H serving as WWE's Chief Content Officer, Shawn Michaels heading up the "WWE NXT" brand, and "Road Dogg" Jesse James overseeing live events, D-Generation X's fingerprints can be found all over WWE's current product. In a recent interview with "Sports Guys Talking Wrestling," Michaels reflected on how far he and his former stablemates had come — from their days as rebellious troublemakers to being the adults in the room.

Michaels acknowledged that while trading in their olive, black, and green apparel for suits was still unfathomable, he and the rest of his DX teammates always had a penchant for the creative aspect of the business, and, as such, made a rather seamless transition to their corporate roles. "Even as degenerates back in the day, we had such a love and a passion for this stuff," Michaels admitted. He added, "Granted yeah, sometimes when it [our rebellious side] was unleashed, it could have been a little wild, and arguably, I don't know, controversial. But at the same time, it really was a deep-seated love and admiration for this business — and a passion for it." 

"And that's what it is now," Michaels continued. "We are now, thankfully, a lot more mature — and [have] grown up quite a bit. But I think there's still that little kid in us, that I know a lot of our athletes, a lot of our superstars, all appreciate because we make it fun. And we want it to be fun, especially here in 'NXT.' Granted, when you get to the main roster, it is serious business, as it should be — and it is here, too, but at the same time, I want this to be a fun experience," explained Michaels.

Michaels added that he wants "NXT" superstars to get the feeling of a "college experience" during their time in WWE's developmental brand. He elaborated stating, "We want them to learn what they're doing, but we also want them to fall in love with this and have fun with this job." "The Heartbreak Kid" feels that if these future WWE main roster superstars can accomplish this during their time in "NXT," that the future of WWE's business will be bright.

Triple H Says UFC Merger Slowed Down NXT Europe Plans

Triple H gave an update on their NXT Europe plans following Money in the Bank on Saturday. WWE announced last year the new brand would be coming in 2023 and speaking at the post-Money in the Bank press conference, Triple H said that the plans have shifted due to Endeavor’s purchase of WWE.

“It’s just slowed down the process I think,” he said (courtesy of Wrestling Inc). “At some point, end of the year, last year, whatever it is, we said in ’23 it would happen. Not having a crystal ball to see where everything was headed in that moment in time, obviously this transition with this merger with UFC with Endeavor and TKO, it’s changed the timeframe. But I think the intent is still the same.”

He continued, “I mentioned under the premise of WrestleMania and premium live events going global, we’re a global company. We’re looking to be everywhere. And I think … there are a lot of amazing talents here, internationally. And we’d love to explore that and give them opportunities to shine on the biggest stage possible and see what we can do with that. It’s just going to take a little bit of time.”

Natalya Received Six Guinness World Record Certificates

Backstage at Saturday's WWE Money in the Bank premium live event, WWE "Raw" Superstar Natalya received a total of six Guinness World Record certificates. Of course, Nattie reacted to the news via Twitter, noting that "wrestling is a singles sport that you can't do on your own.

"These kinds of stats paint the picture that I want for my legacy, long after I'm done. Each one of these records was attained while trying my hardest to build a division, not a person. That's what my family has taught me. Wrestling is a singles sport you can't do on your own," she tweeted.

The records include — Most WWE matches (female) with 1,514 matches, Most WWE wins in a career (female) with 663 wins, Most WWE PLE appearances (female) with 75 appearances, Most WWE WrestleMania appearances (female) with 8, Most WWE "Raw" matches with 174 matches and Most WWE "SmackDown" matches with a total of 200.

Natalya's first WWE match, according to Cagematch.net, was a Dark match against Victoria on the November 27, 2007 episode of "SmackDown." Since then Natalya has been a fixture in the WWE Women's roster. She has held the WWE Divas Championship, the "SmackDown" Women's Championship, and her most recent title was in 2021 — the WWE Women's Tag Team Championship. Nattie's last televised "Raw" match was on the June 5 episode, where she lost to Zoey Starks in a Money In The Bank Qualifying match. On June 30, she faced Rhea Ripley for the WWE Women's Title at a non-televised event.

Darren 'Droz' Drozdov Dead, Former WWE & ECW Star Died At Age 54

Darren 'Droz' Drozdov, who wrestling fans remember from his days in WWE and ECW, has passed away aged 54. The official statement from his family, which was obtained by WWE, reveals that he died this morning of natural causes.

While the news of Drozdov's passing is tragic, the statement focuses on the positive aspects of his life and what he accomplished. His family praised him for living each day to the fullest, despite being paralyzed from the neck down for the past 24 years. Furthermore, the family thanked his fans, friends, teammates, and colleagues for showing him support throughout the years while revealing that Drozdov wouldn't want people to mourn for him.

"Everyone who knew Darren was a better person because of it. He taught everyone so much about how to look at life: how to put things in perspective, how to overcome adversity, and how to show compassion for others. He would not want anyone to be sad at this moment and would want to this to be a celebration of his life, to be remembered for all the great things that he accomplished, the fun, the laughter, the great memories he shared with everyone."

Drozdov's wrestling career was cut short due to injury, but he did make an impression on WWE and ECW fans during the Attitude Era. Additionally, he was also known for his time in the NFL.

Darren Drozdov debuted in WWE in 1998, initially portraying a puking gimmick. During his tenure in Vince McMahon's company, he was primarily used as a mid-card superstar and tag team competitor. He once led a body piercing-themed stable that included Prince Albert and Vic Grimes. However, he is arguably best remembered for his stint in the Legion of Doom, which saw him take part in an infamous segment that culminated with Hawk being pushed off the Titantron.

Elsewhere, Drozdov had a short stint in ECW throughout 1997 and 1998. He was part of a stable that included Lance Wright, Brakkus, Doug Furnas, and Phil LaFon. They were presented as invaders from WWE who'd been sent to cause chaos in Paul Heyman's promotion.

Sadly, Drozdov's career was cut short following an accident in a match with D'Lo Brown on the October 5, 1999 episode of "WWF SmackDown." He landed on his head and broke two vertebrae in his neck, causing him to become paralyzed. However, as the aforementioned family statement notes, Drozdov continued to live his life to the fullest after becoming quadriplegic, and those who knew him praised him for his positive outlook.

Outside of wrestling, Drozdov played three seasons in the NFL for the New York Jets, Philadelphia Eagles, and Denver Broncos

WWE Media Rights Negotiating Windows With NBCUniversal & FOX Have Ended

A report from New York Post’s Andrew Marchand reveals the exclusive WWE TV rights negotiating windows for both FOX and NBCUniversal have closed for RAW and SmackDown. 

WWE is free to explore signing a deal with other networks and streaming platforms.

One of the leading streaming platforms expected to enter into talks with WWE is Amazon Prime Video. The likes of Apple and Warner Bros. Discovery may show interest but are not expected to make a play for the broadcasting rights.

In regard to traditional broadcasters, FOX and NBCU are still reportedly the favorites to retain WWE broadcast, but Disney has shown interest in WWE programming to air on FX but not ESPN, as ESPN "can’t guarantee a specific night of the week due to their rotating slate of games."

The report noted something very interesting, “One nugget I was told that may interest wrestling fans is that Warner Bros. Discovery does not have to stay exclusive to AEW. It would be something if it got in on WWE. But I don’t see it yet.”

XFL Loses Nearly $60 Million This Season

A group led by Dwayne ‘The Rock’ Johnson took ownership of the XFL from Vince McMahon last year and just wrapped up their first full season of the revamped football league. Reports from Forbes indicate that the league lost nearly $60 million this season.

The XFL was largely a football league intended to be for players looking for a path to the NFL. In fact, 67 players who played in the XFL this season earned invitations to workout for NFL teams and 22 of them signed actual contracts. The Arlington Renegades won the championship despite finishing the regular season with a losing record (4-6).

The Rock continues to be adamant that the XFL is not a ‘side hustle’ and there is a clear goal that he remains confident the league can achieve. The Rock said, “This is not just an endeavor that’s going to fill up a portfolio and one day we flip it and we’re out. This is legacy. This is the long game.”

Forbes further indicated that the league expects around $100 million in revenue next season. Nearly 25% of XFL income comes from ESPN, which pays the league $20 million per season for rights to air games on TV.

XFL owners, including chairwoman Dany Garcia, said that the league recently signed sponsorships with national brands such as Progressive and Under Armor. She said, “We’re extremely well-capitalized for the long-term. This is our new WWE. The next massive live property.”

WWE Touts Nearly 90M U.S. Fans as CEO Says “It’s Time to Monetize” With New TV Deals

WWE Hall of Famer The Iron Sheik passes away

From WWE.com:

WWE is saddened to learn that Hossein Khosrow Ali Vaziri, known the world over as WWE Hall of Famer The Iron Sheik, passed away on Wednesday, June 7, at age 81. 

With his imposing physique, curled boots and dreaded Camel Cutch finishing hold, The Iron Sheik’s larger-than-life personality and natural gift for inciting crowds across the globe helped him become one of the greatest villains in sports-entertainment history. Yet, over time that awe-inspiring showmanship not only earned the respect of his peers, but the WWE Universe as a whole, making him a beloved figure.The Iron Sheik first excelled in the world of Greco-Roman Wrestling, competing in the Amateur Athletic Union and becoming a gold medalist at 180.5 pounds in 1971.

 The Iron Sheik became WWE Champion the day after Christmas in 1983 when he defeated Bob Backlund in Madison Square Garden. The victory was a controversial one, as Backlund's manager Arnold Skaaland threw in the towel when Backlund refused to submit to the Camel Clutch.

 After losing the WWE Championship to Hulk Hogan, The Iron Sheik engaged in a heated rivalry with Sgt. Slaughter culminating in their famous Boot Camp Match at Madison Square Garden. Soon after, The Iron Sheik teamed with Russian strongman Nikolai Volkoff. The anti-American pairing went on to win the WWE World Tag Team Championship in 1985 at the first WrestleMania.

The Iron Sheik left WWE in 1988 but reappeared in 1991 by the side of former enemy Sgt. Slaughter as Colonal Mustafa. His last in-ring appearance was at WrestleMania 17, as The Iron Sheik returned for one night only, winning a Gimmick Battle Royal and re-igniting his rivalry with Slaughter in the process.

The Iron Sheik remained a pop culture icon due to his bombastic online persona and appearances on “The Howard Stern Show,” “The Eric Andre Show,” and more.

WWE Announces Multi-Year Partnership With TWITCH

WWE today announced a multi-year partnership with Twitch that will see the return of the official WWE channel and popular WWE Superstar channels, featuring live and exclusive content.

In addition to the launch of the channel, WWE will debut today a companion sidecast to Monday Night RAW, bringing the WWE Universe behind the scenes and closer to the in-ring action. The weekly viewing experience will be led by a rotating cast of hosts and will regularly feature appearances by WWE Superstars, unique and exclusive content such as backstage interviews, and more. Viewers can stream the sidecast live every Monday beginning at 8 p.m. ET via https://www.twitch.tv/wwe or the Twitch App.

Additionally, the official WWE channel will be home to other live productions and will serve as an alternate live streaming feed for all of WWE’s premium live event press conferences.

WWE Legend Billy Graham Dead At 79

WWE Hall of Famer "Superstar" Billy Graham has died ... TMZ Sports has confirmed.

Billy's family tells us he died Wednesday after being taken off life support. We're told Billy's wife and daughter were by his side when he passed. As we reported, Billy's wife Valerie announced Monday he had been in the ICU for three weeks as a result of various health issues. She said doctors wanted to take Billy off life support Monday night, but she initially refused.

Known for his prowess as a wrestler and a bodybuilder, Billy rose to fame back in the day wrestling for the American Wrestling Association and later the World Wrestling Federation.

Billy mentored big-time wrestlers like Hulk Hogan, Scott Steiner, Ric Flair and Jesse Ventura ... and in 2004 the WWE inducted Billy into its Hall of Fame.

Billy's recent health issues took a toll on his body ... his family says he lost 45 pounds while suffering from congestive heart failure, diabetes, hearing loss, and a significant infection in his ears and skull. We're also told his kidneys were failing.

Tributes are now pouring in from across the wrestling world ... with Ric tweeting, "THANK YOU FOR ALL YOUR INFLUENCE On My Career!"

Billy was 79.

Merged UFC And WWE Will Reportedly Be Called TKO Group Holdings

The New Whale has been knocked out and a new, permanent name has been chosen for the soon-to-be-merged WWE and UFC hybrid company.

CNBC is reporting that what was temporarily known as New Whale Inc. will now be known going forward as TKO Group Holdings, with the TKO acronym meaning "technical knockout," paying homage to both UFC and WWE's shared combat sports lineages. While the two companies have an agreement to merge under this new name, WWE is still to be run by Vince McMahon out of its headquarters in Stamford, Connecticut, while UFC is still being run by Dana White out of its headquarters in Las Vegas, Nevada.

The new company will be listed on the New York Stock Exchange as TKO. The merger between the two companies will make TKO Group Holdings worth an estimated $20 billion.

Endeavor CEO Ari Emmanuel secured Chairman Vince McMahon to oversee WWE during negotiations with a new revision made to WWE's term sheet which says McMahon must remain in charge of the company until he either retires or is physically unable. McMahon was also granted five of the eleven seats on the WWE Board of Directors, as well as veto power. In exchange for the request to make McMahon executive chairman, WWE shareholders get a higher percentage of voting power under the new terms. Despite McMahon's newly cemented authority, Endeavor has been adamant that WWE Chief Content Officer Paul "Triple H" Levesque will continue to oversee the creative direction of the company.

WWE Delivers Record-Breaking Backlash In Puerto Rico

WWE today announced that WWE Backlash®, which emanated from the Coliseo de Puerto Rico José Miguel Agrelot in San Juan, Puerto Rico, became WWE’s highest-grossing and most-viewed Backlash in company history.

Viewership of Backlash saw a 28 percent increase versus the record set in 2022. The event, which featured Bad Bunny, the most-streamed music artist in the world, marked the largest gate ever for any WWE event held in Puerto Rico and the largest gate in the history of Backlash.

More than 34,800 fans descended on San Juan, Puerto Rico, for back-to-back sellout nights of SmackDown (16,896 attendees) and Backlash (17,944 attendees). It also marked the most social Backlash of all-time, led by over 40 million views of the San Juan Street Fight featuring Bad Bunny vs. Damien Priest. The hashtag #WWEBacklash, accompanied by a custom Bad Bunny emoji, trended No. 1 across the entire evening of sports.

In addition, Backlash broke merchandise and sponsorship records. As the first-ever WWE event under the expanded partnership with Fanatics overseeing the on-site event retail experience, top-selling items included the WWE Backlash and LWO Puerto Rico t-shirts. Sponsorship revenue surpassed any Backlash event in history, breaking last year’s record with a 98 percent year-on-year increase through partnerships with Netflix’s FUBAR, Mike’s Harder Lemonade and Xfinity.

Lawsuit Brought Against Vince McMahon Has Been Dropped

WWE shareholders dropped a lawsuit recently, according to Bloomberg.

Shareholders leading the consolidated lawsuit agreed to drop it Wednesday, saying their claims became moot when McMahon agreed in late March to repay $17.4 million the company wracked up investigating him. Vice Chancellor J. Travis Laster granted the motion the same day.

The payment appears to cover only the cost of the probe, not the nearly $20 million McMahon allegedly paid his accusers since 2007. Counsel for the WWE investors indicated they plan to seek a “mootness fee” as a reward for their role in forcing McMahon’s hand.

A different group of shareholders is already seeking a mootness fee after dropping a related case when McMahon walked back some bylaw changes he’d pushed through as part of his corporate coup in early January. McMahon had left the board in mid-2022.

Vince McMahon, WWE Sued by Ex-Writer Over ‘Racist’ Scene Scripts

World Wrestling Entertainment Inc., Vince McMahon, and other executives allegedly discriminated and retaliated against a Black female writer for objecting to “offensively racist and stereotypical jargon” used in the scripts of Black wrestlers including Bianca Belair and Apollo Crews, according to a new lawsuit.

Britney Abrahams’ multiple complaints were ignored, and she was pretextually terminated for taking home a WrestleMania-branded chair, according to the complaint filed in the US District Court for the Eastern District of New York on Monday.

The lawsuit includes Stephanie McMahon, Chris Lubrando (SVP, Creative Writing Operations at WWE), WWE creative team members Chris Dunn, Ryan Callahan, Jen Pepperman, and former team member Mike Heller.

Abrahams began writing for WWE SmackDown! and WWE Monday Night RAW in 2020, according to the complaint. She complained of racial and gender stereotypes in scripts, including ones instructing Belair to say “Uh-Uh! Don’t make me take off my earrings and beat your ass! " and Crews to speak with a “stereotypical and exaggerated Nigerian accent,” but was rebuffed, she said.

WWE didn’t immediately respond to Bloomberg Law’s request for comment.

‘Harmful Stereotypes’

She was allegedly subject to a number of racist pitches after complaining. On a Slack thread that McMahon and his daughter Stephanie McMahon were included on, other writers suggested a Black male wrestler should dress in drag. Only when a White writer noted that doing so could “perpetuate harmful stereotypes that would offend viewers” was the pitch scrapped, she said.

On another occasion, a writer allegedly proposed that a Muslim’s wrestler’s secret in a script be that he was “behind the 9/11 attacks.”

Abrahams and other writers complained about the comments, to which Vice President Christine Lubrano allegedly responded, “Wacky things are said in the writer’s room all the time!” and “I know but look at the waves we’re making in the company. 4 years ago, no woman worked on the writer’s team!”

Abrahams continued to opposed racist, sexist pitches, she said, and was fired in retaliation in April 2022. WWE fired her for taking with her a WrestleMania 38 branded chair, but the practice was allegedly a common practice that White male writers weren’t punished for.

She is seeking reinstatement, damages, declaratory judgment, and an injunction restraining defendants from engaging in such unlawful conduct.

Cochran Firm represents Abrahams.

The case is Abrahams v. World Wrestling Ent., Inc., E.D.N.Y., No. 23-cv-03109, complaint filed 4/24/23.

source: Bloomberg Law

Triple H introduces the World Heavyweight Championship

In a stunning announcement on Monday Night Raw, Triple H revealed the addition of the World Heavyweight Championship to the WWE title picture.

Expressing the need for two top champions, Triple H announced that the new World Heavyweight Champion will be crowned at Night of Champions in Saudi Arabia. Roman Reigns will remain the Undisputed WWE Universal Champion and bring that title to his respective brand following the WWE Draft.

WWE Clash At The Castle Generated Over $27 Million For Wales Economy

WWE Clash at the Castle in 2022 brought in £21.8 million ($27,118,328) to the economy in Wales, according to BBC.

The stadium event took place at Principality Stadium in Cardiff on September 3 and had an attendance of 62,296. A report on the impact of the big event revealed 75% of fans traveled to Wales from outside the country, the majority from England.

A reported 57% of non-locals said the event made them want to explore Wales further.

Welsh Rugby Union Interim CEO Nigel Walker said: "[Cardiff] stepped up to the challenge. Clash at the Castle had a global audience of millions, and with all eyes on Principality Stadium, we showcased what a magnificent venue we have here in Cardiff."

Wales’ economy minister Vaughan Gething added: "In addition to the direct economic impact the event delivered here in Wales, it provided us with a huge boost to our profile internationally. This included opportunities to showcase Wales’ vibrant language and culture through bespoke content creation shared globally on WWE’s social media channels."

New WWE-Twitch Agreement To Allow WWE Talent To Stream With 'Almost No Restrictions'

WWE disappointed both talent and fans in the fall of 2020 when Vince McMahon issued an edict that talent had to seize operations on third party platforms such as Cameo and Twitch. There was reportedly widespread frustration among the roster, and select talent even met with McMahon in an attempt to change his mind. Additionally, Zelina Vega was released as a result of continuing to stream on Twitch following the ban.

Over two years later, it appears the Twitch ban has been lifted. Fightful Select reported on Tuesday that "WWE and Twitch have reached an agreement to allow WWE wrestlers back on Twitch with almost no restrictions." The small caveat is that they must get clearance first before streaming with people from other companies.

Those that spoke to Fightful were "very happy" about the deal and also revealed that the revenue will be split three ways, with Twitch and talent earning "the vast majority." This has been in the works since April 2022 when WWE informed those in a talent meeting that the ban on third party platforms was changing, although things on the Twitch end took longer than expected.

There have been plenty of conversations in the last few years regarding WWE and third party platforms seeing as though WWE talent are classified as independent contractors. In addition to Vega's controversial firing, Mandy Rose was reportedly terminated this past December for the content she was posting on her FanTime page. The attention that the news received ultimately led to Rose earning $1 million on the platform within a month following her departure.

WWE Breaks Record For Non-WrestleMania Stadium Ticket Sales With SummerSlam 2023

Tickets for this year's WWE SummerSlam went on sale this past Friday, and the numbers aren't just looking promising — they're looking historic. On Twitter, Sports Business Journal reported that WWE has already sold more than 32,000 tickets for the event. That figure breaks the company's record for day-one sales on any non-WrestleMania stadium show.

Detroit's Ford Field was announced as the home of this year's SummerSlam in February, alongside a new logo for the event to go with the location, with the press release for the announcement noting Detroit's special place in WWE history. WWE previously held WrestleMania 23 at Ford Field in 2007, but more significantly, Detroit was home to WrestleMania III — although that show took place in the larger Pontiac Silverdome.

WWE's rapid sale of tickets for their premiere summertime event is no surprise, as tickets for 2021's SummerSlam sold at a similarly speedy pace. The pace of their current sales measure well against perceivable advantages that the sale of 2021's tickets had, such as being their first full capacity stadium show in over a year and the then-rumored blockbuster main event of John Cena vs. Roman Reigns. No significant matches or plans are currently known for this year's SummerSlam, but there are reports that a dream match between Becky Lynch and Trish Stratus is planned for the show. WWE CEO Nick Khan noted in the lead-up to WrestleMania 39 that the company had WrestleMania plans in place months in advance, as well as plans for the months after, further suggesting the SummerSlam card is already well under construction.

Nick Khan Comments On Vince McMahon’s Current Creative Role In WWE

Nick Khan says that Triple H remains WWE‘s sole Chief Content Officer despite Vince McMahon‘s recent involvement.

WWE President Nick Khan recently sat down with LightShed Live to discuss a wide variety of subjects. When asked about Vince McMahon’s current creative role in WWE based on what happened on the RAW following WrestleMania 39, Khan confirmed that Triple H is still the sole Chief Content Officer of WWE. However, he’ll also continue to communicate with Mr. McMahon.

“On Monday [April 3], when this deal was officially announced, Vince sent out a company-wide email to our thousand or so employees, including myself, and in the email, he laid out the structure of the NewCo,” Nick Khan said. “Specifically, he articulated that Paul Levesque remains the sole Chief Creative Officer. Sole. How does that work? Does that mean that technically because I’m in charge of the business side of the business that I don’t seek input from other people?

“I wouldn’t seek input from Vince McMahon; who created this entire empire? That would be a mistake on my behalf. Paul and Vince, a family relationship, a relationship that spans back to the mid-90s. Paul is in charge of creative. If he wants input from Vince or Vince has ideas that he and Paul are going to communicate, that’s always going to be the case. We’re lucky to have Vince.

“We’re lucky to have Paul in control of creative. We’re lucky that the setup that Vince created that the company could continue to exist; even when Vince stepped out for that five-month period, the company kept flowing. We think the best organizations are set up that way, and that’s the way Vince set up WWE.” [H/T: Fightful]

WWE Receives Emmy Nomination For Ric Flair Documentary

WWE has received an Emmy nomination.

Wooooo! Becoming Ric Flair, a Peacock documentary, has been nominated in the Outstanding Long Documentary category. The winners will be announced that Lincoln Center in New York City on May 22

The documentary highlights the life and legacy of two-time WWE Hall of Famer Ric Flair and includes interviews from a range of WWE stars and legends, including Flair himself

Analysis Shows WWE's Fan-Driven Business Metrics Improved Under Paul Levesque

However you feel about the state of WWE programming and the specifics of how shows have or haven't differed when spearheaded by Paul "Triple H" Levesque as compared to Vince McMahon, there absolutely have been differences. Levesque brought back various wrestlers who had been cut by the previous regime, and under his guidance, the last-minute changes that were constant under McMahon had subsided. Past that, it becomes a matter of personal preference and business metrics. On Thursday, Wrestlenomics offered the latter, comparing TV ratings and live attendance for Levesque's eight months running creative to how McMahon's WWE was doing a year earlier. And the answers are favorable to Levesque.

On the TV side, "WWE Raw" averaged 1.80 million viewers each week under Levesque, up 4% from McMahon a year prior, which is doubly impressive considering USA's reach among cable customers has dropped. "WWE SmackDown," meanwhile, saw a bigger increase, going up 6%, from an average of 2.14 million viewers under McMahon to 2.28 million viewers under Levesque. Since "SmackDown" is on FOX, a free broadcast network, the caveat about its potential viewership does not apply, though.

As for ticket sales, that data is from WrestleTix, which is able to count tickets distributed, but without being able to distinguish between paid admissions and comps. With that out of the way, for every month of the Levesque era, "Raw" averaged a higher number of tickets out than the McMahon regime did a year prior, and "SmackDown" did the same for all but one month, even with the latter including the initial surge in interest when WWE resumed touring after COVID-19 precautions eased. Across the full eight-month periods being compared, "SmackDown" averaged 8,555 tickets distributed for Levesque vs. 7,532 for McMahon, a 14% increase, while "Raw" averaged 8,463 tickets distributed for Levesque vs. McMahon's 6,787, a 25% increase. And though the McMahon period had a 2% lead on Levesque's for domestic house shows, that gain was carried by August through November 2021, the early months of post-pandemic touring.

Vince McMahon tells WWE staff that Paul Levesque will remain in charge of creative process

Vince McMahon has sent an internal email to WWE employees stating that Paul Levesque will retain his position as head of creative.

On the heels of the Endeavor/WWE deal, sources have told POST Wrestling’s John Pollock that the email contains the line: “Paul Levesque will remain WWE’s chief content executive.”

Earlier, during an interview on CNBC, McMahon was asked by Scott Wapner whether he planned to be “as involved in the creative side as he has in the past.”

McMahon replied:

Yes and no. On a higher level, yes. In the weeds — which I always loved to get into the weeds in the past — no; can’t do that.

Back in 2019, after McMahon appointed Paul Heyman and Eric Bischoff as Executive Directors of Raw and SmackDown respectively, McMahon used similar language, saying that those two hires freed him up:

“to look at longer range story arcs and work on character development, versus being in the weeds”

An all-employee Zoom meeting for WWE staff has been arranged for 4.00 pm ET.

Triple H and Nick Khan To Receive Huge Bonus Following WWE Sale

WWE's Nick Khan and Triple H will receive a huge bonus following the news that WWE has been sold to Endeavour.

On Monday, WWE announced a transaction agreement with Endeavor that would see WWE sell to Endeavor and merge with UFC to form a new publicly traded company worth $21.5 billion. Khan will be President of WWE when the two promotions merge, while Triple H is expected to remain Chief Content Executive of WWE.

Triple H and Nick Khan will both receive large bonuses with Triple H taking in $5 million and Khan receiving $15 million.

From the SEC filing:

"In light of their significant contributions to the Company prior to and in connection with the Transactions and to promote retention, the Company, following the approval of the WWE Compensation Committee, entered into bonus letter agreements (each a “Bonus Agreement”), dated as of April 1, 2023 and effective as of April 2, 2023, with certain executive officers including Nick Khan, the Company’s Chief Executive Officer, Frank A. Riddick III, the Company’s President & Chief Financial Officer, and Paul Levesque, the Company’s Chief Content Officer. The Bonus Agreements each provide for a cash payment (the “Bonus”) in the event a Sale Transaction (as defined in the Bonus Agreements) is consummated on or before February 28, 2024 (unless such date is extended by the Company’s Board of Directors, in its discretion) (a “Qualifying Sale Transaction”).

For Messrs. Khan and Levesque, the amount of their Bonuses is equal to $15,000,000 and $5,000,000, respectively, with 100% of such amount payable as soon as practicable following the closing date of a Qualifying Sale Transaction, subject to their continuous employment through the closing date (except as otherwise noted below). For Mr. Riddick, the amount of his Bonus is equal to $5,000,000, with 60% of such amount payable as soon as practicable following the closing date of a Qualifying Sale Transaction and 40% of such amount payable as soon as practicable following the six-month anniversary of the closing date of a Qualifying Sale Transaction, subject to his continuous employment through each such date (except as otherwise noted below). In the event any of Messrs. Khan, Riddick and Levesque is terminated by the Company without Cause or resigns for Good Reason (each as defined in the applicable Bonus Agreement) prior to the payment date(s) described above, the unpaid portion of his respective Bonus shall vest and become payable as of the date of termination.

The foregoing description of the Bonus Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the Bonus Agreements for Messrs. Khan, Riddick and Levesque, copies of which will be filed as exhibits to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 and which will be incorporated by reference herein."

Most Successful WrestleMania Of All Time

WWE today announced that WrestleMania 39 became the most-successful and highest-grossing event in company history. The two-night, sold-out event at SoFi Stadium in Los Angeles set new records for viewership, gate, sponsorship, merchandise and social media. WrestleMania 39 became the most social WrestleMania of all-time, with over 500 million views and 11 million hours of video consumed over the two days, a 42 percent increase over last year. Night 2 of WrestleMania 39 surpassed the existing global viewership record by 33 percent, just one day after Night 1 of WrestleMania 39 surpassed the existing global viewership record by 28 percent. WrestleMania 39 generated a gate of more than $21.6 million, breaking the previous record by 27 percent, with 161,892 in attendance at SoFi Stadium over the two nights. In addition, WrestleMania 39 broke all-time sponsorship and merchandise records. Sponsorship revenue eclipsed $20 million, more than doubling the previous record. Merchandise sales were up 20 percent versus the record set in 2022.

ENDEAVOR ANNOUNCES UFC® AND WWE® TO FORM A $21+ BILLION GLOBAL LIVE SPORTS AND ENTERTAINMENT COMPANY

BEVERLY HILLS, Calif. & STAMFORD, Conn.--(BUSINESS WIRE)-- Endeavor Group Holdings, Inc. (NYSE: EDR) (“Endeavor”) and World Wrestling Entertainment, Inc. (NYSE: WWE) (“WWE”) today announced that they have signed a definitive agreement to form a new, publicly listed company consisting of two iconic, complementary, global sports and entertainment brands: UFC and WWE. Upon close, Endeavor will hold a 51% controlling interest in the new company and existing WWE shareholders will hold a 49% interest in the new company.

Together, UFC and WWE will have global reach, impressive scale and omnichannel distribution. On a combined 2022 fiscal year-end basis, UFC and WWE achieved revenue of $2.4 billion and a 10% annual revenue growth rate since 2019.

“This is a rare opportunity to create a global live sports and entertainment pureplay built for where the industry is headed,” said Ariel Emanuel, CEO of Endeavor. “For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”

“Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,” said Vincent K. McMahon, Executive Chairman of WWE.

McMahon continued, “Together, we will be a $21+ billion live sports and entertainment powerhouse with a collective fanbase of more than a billion people and an exciting growth opportunity. The new company will be well positioned to maximize the value of our combined media rights, enhance sponsorship monetization, develop new forms of content and pursue other strategic mergers and acquisitions to further bolster our strong stable of brands. I, along with the current WWE management team, look forward to working closely with Ari and the Endeavor and UFC teams to take the businesses to the next level.”

The new company will be led by Emanuel (Chief Executive Officer), who will also continue in his role as Chief Executive Officer of Endeavor, McMahon (Executive Chairman of the Board) and Mark Shapiro, who will be President and Chief Operating Officer of both Endeavor and the new company. Dana White will continue in his role as President of UFC and Nick Khan will serve as President of WWE. The Board of Directors will consist of 11 members who will be appointed at a later date, six of whom will be appointed by Endeavor and five of whom by WWE.

WWE reportedly close to sale to Endeavor

World Wrestling Entertainment is reportedly closing in on a deal to be sold to talent-agency company Endeavor Group Holdings (NYSE:EDR), already the parent of mixed martial arts league Ultimate Fighting Championship.

The sale is in advanced talks, CNBC reported, and it could be announced as soon as Monday.

It would result in a new publicly traded company focused on combat sports and entertainment, according to the report, and Endeavor would own 51% while WWE holders would own 49%.

The proposed transaction would reportedly assign WWE an enterprise value of $9.3B. WWE has a market capitalization of about $6.8B.

It would also mean the end of Vince McMahon's control of WWE after several decades.

Recent weeks have brought increasing sale speculation and WWE CEO Nick Khan said last week the company had seen "robust" interest.

source: seeking alpha