The Oklahoma Firefighters Pension & Retirement System vs. WWE lawsuit has been dismissed.
The lawsuit, filed in the Court of Chancery in Delaware, was voluntarily dismissed on March 10, 2020, according to Wrestlenomics on Twitter.
"Pursuant to Court of Chancery Rule 41(a)(1), Plaintiff Oklahoma Firefighters Pension and Retirement System hereby files this Notice of Voluntary Dismissal, dismissing the above-captioned case with prejudice, each side to bear its own costs and expenses," the Notice of Voluntary Dismissal reads.
As noted back in December, WWE Chairman & CEO Vince McMahon and WWE had been sued on behalf of the Oklahoma Firefighters Pension & Retirement System as the pension fund, which owns stock in WWE, claimed there was "a credible basis to believe" that Vince and other senior WWE officials had diverted resources to Vince's XFL football league, which would be a breach of their commitments to WWE shareholders. It was also alleged that WWE's Board of Directors failed to conduct a reasonable investigation to make sure that Vince wasn't engaging in financial transaction for the XFL that would be a conflict with WWE interests. The lawsuit was seeking documents that explained WWE's ties to the XFL.
A fan asked Wrestlenomics if there was any way of knowing what changed with the lawsuit, and if the coronavirus pandemic may have invited a longer and costlier battle in court.
"It's difficult to know because there wasn't really anything filed leading up to this which indicated why they were dropping the case. Likely there was some behind-the-scenes negotiations. Also, the claimed XFL valuation they were using in the case didn't appear to be sound," Wrestlenomics responded.
Vince's XFL league recently canceled the remainder of their 2020 re-launch season, which was considered by some to be a success in the 5 weeks that it ran. The league remains committed to running a season in 2021 and beyond.
April 1, 2020
Lawsuit Against Vince McMahon And WWE Dismissed
Is Vince McMahon Ready to Tap Out?
Vince McMahon was once tossed into a grave and almost buried alive by the Undertaker. But that’s nowhere near as bad as the year he’s having now.
The burial, of course, was staged, while the agony of 2020 is very real. The coronavirus pandemic has temporarily taken down the business of live sports — both real and fake. That’s left McMahon’s World Wrestling Entertainment Inc. to hold matches in empty arenas, making the spectacle feel even more theatrical than sports-like, with dramatic monologues delivered directly to the camera instead of to the shouting fans that normally line the stands. Meanwhile, McMahon’s XFL football league, which he rebooted earlier this year, had to cancel the rest of its season. XFL is privately held by McMahon; however, shares of WWE have plunged more than 40% since December.
McMahon, the 74-year-old chairman and CEO of WWE, is now looking to free up funds without relinquishing his control over the wrestling empire. On Tuesday, the company disclosed that McMahon entered into a prepaid variable forward contract, which essentially functions as a cash advance from a bank. The way it works is, McMahon agrees to eventually sell some of his shares at some future date — March 2024, in this case — receiving the money now, but without having to actually turn over the stock or pay taxes on the sale yet.
According to Bloomberg News’s Drew Singer, the bank was Morgan Stanley and the deal priced 2.26 million shares at $38 apiece, representing more than $80 million in freed-up liquidity. In the meantime, McMahon gets to collect the usual dividends on those shares, and he can keep the holdings by settling the contract for cash. The agreement also doesn’t affect McMahon’s other 25 million or so class B shares, which represent just over 70% of the company’s total voting power.
Even before the coronavirus began sweeping through the U.S., WWE was having a tough year, amid a shrinking number of subscribers to its streaming-TV service, WWE Network, and setbacks with international distribution deals...More?
source: washingtonpost.com
March 31, 2020
WrestleMania To Debut On PPV On Fox Sports
FOX Sports announced a new slate of WWE programming on their network. That new content will include the network's first-ever pay-per-view presentation of WrestleMania on the FOX Sports App and FOXSports.com.
This year's WrestleMania is set to be hosted by FOX Sports' Rob Gronkowski in a two-night affair. The event will also be held in the Performance Center in front on no fans.
The live stream of the WrestleMania pay-per-view will be available for $59.99 for both night on the FOX Sports and FOX NOW Apps via mobile and other connected streaming devices or at FOXSports.com. The WrestleMania Kickoff Part 1 and Part 2 will begin coverage this Saturday and Sunday night at 6:00 p.m. ET on FS1 and FOX Deportes, with a panel of experts breaking down the night's upcoming matches.
FOX Sports also announced additional programming. WWE Backstage will return to FS1 at 11:00 p.m. ET where host Renee Young and analysts Mark Henry, Booker T and Paige will give their predictions on WresteMania. The network is also set to air more than 22 hours of programming starting Tuesday night.
"FOX Sports will present 22 hours of timeless WWE content to air on Tuesday nights this spring, beginning with Royal Rumble 2020 tonight at 7:00 PM ET on FS1," FOX Sports announced in a press release. "Additional programming on FS1 includes one-hour editions of WrestleMania 31, WrestleMania 33 and WrestleMania 34, in addition to other specials from the 'WWE 24' and 'Ruthless Aggression' series. Content also includes WWE's brand-new series titled 'Best Of WWE' featuring 'Stone Cold' Steve Austin, Triple H, John Cena, Charlotte Flair, Ric Flair, Brock Lesnar, Becky Lynch, Shawn Michaels, Roman Reigns and The Undertaker."
President of FOX Sports, Mark Silverman said that he hopes this new programming can offer fans a positive outlet during this time.
"We're pleased to offer this new slate of WWE programming for viewers during these challenging times," said Mark Silverman, President, National Networks, FOX Sports. "We hope this lineup of sports entertainment programming serves as a much-needed relief for fans. We appreciate the hard work and creativity of the teams on both sides of our long-term partnership with WWE."
WWE Chief Brand Officier, Stephanie McMahon also discussed the further development of WWE's partnership with FOX that started with bringing Smackdown to FOX.
"Six months after our historic partnership brought Smackdown to its new home on FOX, we are thrilled to deliver even more premium programming, including WrestleMania, across the entire FOX Sports portfolio," said Stephanie McMahon, WWE Chief Brand Officer. "In partnership with FOX Sports, it's a privilege to be able to entertain our fans each week and put smiles on their faces particularly during a time when they need it the most."
March 30, 2020
Triple H on The Decision to Continue With WrestleMania, Competing Without An Audience
Triple H appeared on ESPN SportsCenter to discuss WWE’s decision to hold WrestleMania amid the COVID-19 pandemic, the difficulty of competing without a crowd and more. You can see some highlights and the full video below:
On if he’ll be making an appearance at WrestleMania 32: “Right now I am full-time office. It’s funny, ironically I wasn’t originally scheduled to be in this year’s WrestleMania anyways. Every year as time goes by this gets more and morehectic for me, and getting in the ring just becomes an added burden.”
On his favorite moments from WrestleMania: “God you know, it’s so hard. WrestleMania, it’s the one thing, I mean, this year will be WrestleMania 36 but every year there this epic moments. The [moments] themselves just kind of transcend theactual event and become these just epic moments that last through generations. And there’s these moments in time, pictures like Hulk Hogan slamming Andre the Giant at WrestleMania III or Shawn Michaels descending from the rafters on a skyline. Years later,I would have an end of an era match with the Undertaker, with Shawn Michaels as the special guest referee. And it was listed as “The End of an Era” because we were the last of our generation of talent and the last sort of epic clash of them that you wouldsee. And there’s a moment at the end of that match with the three of us, the Undertaker, myself, and Shawn Michaels are standing at the top of the ramp. And I’ll never forget it, it’s burned into my brain of the, just that moment in time of the three of us,the respect level that we all had for each other are all standing out over that sea of people. It’ll last with me forever.”
On the decision to hold WrestleMania amid the pandemic: “Well you know, in this time I think we believe, WWE, I think our talent, our staff, our crew that probably now more than ever, entertainment for people is a necessity. Our fans arethere for us year-round. They’ve been doing it for years, and we have a message in the WWE that is, we say what our jobs are every day is to put smiles on people’s faces all over the globe. And we truly believe that. And in this time, maybe more than any otherin my memory, people need those smiles right now more than anything. So you know, we choose to carry on and to try to be able to deliver those smiles.”
On competing without the energy of the audience: “It’s tough. I can tell you that that is very tough. The WWE Universe, our fanbase is sort of the secret sauce of what we do. We’re actually one of the very first interactive television shows,if you look at it that way, or products out there. We encourage fans to bring signs, they make their own chants. There’s a sense of community in the WWE with our fanbase, and that community, their energy, that’s what drives our performers to put on the showthat they do. And I can tell you that what we do is very physical. And that physicality hurts a lot more more when there’s no one there egging you on, and there’s no adrenaline from the the fans’ standpoint.”
On why WrestleMania needed two days: “I’m telling you right now, it’ll be something special. Gronk’s the host, you know that’ll be special, so it’s gonna get crazy, it’s gonna be fun and it’ll put a smile on your face.”
source: ESPN SportsCenter 411mania.com.
March 25, 2020
Vince McMahon To Sell 3.5 Million Shares Of WWE Stock Through Morgan Stanley
According to a recent SEC filing, Vince McMahon is parting with some of his stake in World Wrestling Entertainment Inc. through Morgan Stanley in an effort to provide more liquidity for the company during the COVID-19 coronavirus outbreak.
The filing itself indicates that McMahon has entered into a variable prepaid forward contract that covers around 3.5 million shares of Class B common stock. This contract will allow McMahon to maintain voting and dividend rights in the stock, as well as price appreciation during and after the contract.
March 23, 2020
Triple H Cleverly Trolls Deontay Wilder During ‘WrestleMania 30’ Rerun
Well played, Hunter
I usually don’t like to lead this column by writing about just a single tweet, but look: there are no sports going on and this is a really good tweet.
ESPN is filling some of the gaps in its programming schedule over the next few Sundays by airing old WrestleManias, starting with WrestleMania 30 yesterday. It’s a smart move for ESPN. The network gets to fill four hours of the schedule with well-liked, pre-made, eye-catching programming. WWE and ESPN have also been rumored to be in discussions to air new pay-per-views on ESPN+, so this is a way to whet the audience’s appetite for wrestling.
If you’re trying to get people interested in current-day WWE, there’s no better place to start than with 2014’s WrestleMania 30. The show is most memorable for the match where Brock Lesnar snapped The Undertaker’s 21-match WrestleMania winning streak, a good John Cena-Bray Wyatt match and the crowning of lovable underdog Daniel Bryan as World Heavyweight Champion.
The event also featured an all-time great entrance by Triple H before his show-opening match against Bryan.
If it looks a bit familiar, maybe you’re thinking of heavyweight boxer Deontay Wilder’s entrance before last month’s rematch against Tyson Fury. The music was different but Wilder’s costume was awfully similar.
Wilder ended up losing that fight and said part of the reason was because the costume, which was made of steel and fitted with LED lights, weighed 45 pounds and made his legs weak by the time he actually got to the ring.
Like Wilder, Triple H also lost his fight and he had a cheeky explanation for it during ESPN’s re-air.
When I first saw Triple H’s tweet, I thought, “Wow, that’s a good reference to something that happened a long time ago.” But the Wilder fight was only a month ago! It’s impossible to keep track of time these days. It’s still a great reference, though.
source: si.com/extra-mustard
March 21, 2020
Matt Hardy Believes He Would Have Had A Better Opportunity In WWE If Triple H Was In Charge
Matt Hardy shocked many fans during AEW Dynamite when he made his AEW debut siding with The Elite against The Inner Circle. Hardy appeared on the latest episode of Talk Is Jericho where the two talked about how Vince McMahon views older talent in WWE.
"Yeah, it's definitely frustrating. I mean, I think everyone goes there being optimistic that you can break through or maybe achieve something different, but it's definitely frustrating. And then once again, once your a little older, you probably experienced some of this as well, like I was not a star on your level, you know, you did stuff as a singles competitor world champion several times over, but once you get to a certain age, Vince's like well, this guy's kind of old," Hardy said. "Even for himself, at his age, he doesn't even want to be on TV because you're old. Nobody wants to see an old person. It's just like if you're a talent and you get to a certain age, it's kind of like, I don't know."
Hardy said that he told everyone that he was going to leave, and it was reported before that Hardy did not want to re-sign with WWE due to how he was being used creatively. He said that even Triple H had tried to contact him to try to stay after his contract had expired. Hardy believes that if Triple H were in charge, then there would have been more opportunities for him creatively.
"What a weird day, and it was like I'm very honest and open with everyone. I told everyone from Vince all the way down what I wanted and what I expected if I was going to stay around. Once we were on the same page, and I said, okay, well, thank you guys very much," Hardy said. "I'll just go my own way, and even days after I left, I talked to to Triple H. It's just like he was cool, and I feel like if if Triple H would have been the guy that was solely in power, I would have probably had a much better opportunity of kind of getting to do what I wanted creatively, but it is what it is."
March 20, 2020
XFL Issues Statement On Re-Launch Season Ending Due To The Coronavirus Pandemic
Stay tuned for updates on the XFL moving forward. Below is the full statement issued to fans this evening:
The COVID-19 pandemic, and the most recent local and state regulations, have left the XFL no choice but to officially cancel the remainder of the 2020 season. This decision has been made with the health and safety of the entire XFL family as our top priority.
While we are disappointed to not complete the 2020 season, our hearts are full of appreciation for your overwhelming support.
Your passion, your commitment to your favorite XFL team and your love of football made our season a success beyond our wildest dreams. We're grateful for the incredible response and look forward to playing full seasons for you -- and with you -- in 2021 and beyond.
When our teams return to the field, we'll make every effort to ensure your faith in us is rewarded with even more fun and excitement. Your passion is our purpose, and everything we do, every day and for every season to come, is For the Love of Football.
We hope you will stay connected to our league and team social and digital channels for news, features, and updates along the way.
ESPN To Air Classic WWE WrestleMania Events
ESPN is set to air classic WWE WrestleMania events to build to WrestleMania 36, according to Variety.
ESPN will air classic WrestleMania events over the next three Sundays, on their flagship cable network, and then on their mobile app.
The first showing will be this Sunday at 7pm ET as ESPN airs WrestleMania XXX from 2014.
Variety noted that this is the latest example of ESPN working to fill its schedule with "unorthodox content" in the wake of the nation's coronavirus pandemic, which has put a stop to many sporting events.
"This unique opportunity is a byproduct of the terrific working relationship we've enjoyed with WWE over the years and the unprecedented circumstances we all find ourselves in," said Burke Magnus, ESPN's Executive Vice President of Programming. "WrestleMania is one of the most popular global events in sports and entertainment and the spectacular content it provides will be a treat for fans."
March 18, 2020
WWE To Air WrestleMania 36 From Multiple Locations
WrestleMania 36 To Air As A Two-Night Streaming Event, Rob Gronkowski Announced As Host
WWE has announced that WrestleMania 36 will be a two-night streaming event for the first time ever.
WrestleMania 36 will air on Saturday, April 4 and Sunday, April 5 at 7pm ET on pay-per-view and the WWE Network. It will still air from the WWE Performance Center in Orlando, with no crowd.
WWE also announced that former NFL player Rob Gronkowski will be hosting The Grandest Stage of Them All this year.
Gronk, who will be on Friday's SmackDown to push the appearance, took to Twitter and commented on the big announcement.
"It's official! I'm hosting @WrestleMania this year...and it's gonna be too big for just one night. For the 1st time, #WrestleMania will be a [alarm emoji] 2-NIGHT [alarm emoji] event: Saturday, April 4 AND Sunday, April 5 on @WWENetwork! Tell you more this Friday night on #SmackDown at 8 ET on @FOXTV," he wrote.
Below is the full announcement WWE sent to us:
For Immediate Release
WRESTLEMANIA® TOO BIG FOR JUST ONE NIGHT
STAMFORD, Conn. – March 18, 2020 – WrestleMania, for the first time ever, will be held as a two-night event streaming on Saturday, April 4 and Sunday, April 5 at 7 pm ET on WWE Network and available on pay-per-view.
The two-night pop culture extravaganza will be hosted by three-time Super Bowl Champion Rob Gronkowski. Tune in to SmackDown this Friday at 8 pm ET on FOX to see what Gronk has in store for WrestleMania.
As previously announced, only essential personnel will be on the closed set during the production of WrestleMania.
WWE Issues Statement On If Wrestlers And Staff Are Being Tested For Coronavirus
WWE confirmed in a new statement to Sports Illustrated that all company talent and staff are required to participate in medical screenings before entering the WWE Performance Center in Orlando, due to the coronavirus pandemic.
WWE issued the following statement in response to a question on if talent and staff are being tested for the COVID-19 virus:
"In consultation with WWE Medical Director Dr. Maroon, WWE Associate Medical Director Dr. Dugas and ringside physician Dr. Westerfield, as a best practice and precautionary measure all WWE performers and staff are required to participate in medical screenings prior to entering WWE's training center, which is now operating as a closed set."
Furthermore, SI reports that WWE has established a series of protocols, based on guidelines from the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC), to minimize risks and to protect its performers and staff. Due to the lack of testing for those in need, WWE sources close to the situation reported to SI that WWE is not testing people that are showing no symptoms, or asymptomatic.
