![]() ![]() “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. His previous employment agreement granted the company rights to commercial works based on his life. 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 nonexclusive basis. McMahon has run the WWE for decades and has long appeared in the ring as a performer (his stage name is “Mr. 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).Įarlier 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.īut it is the section about the “McMahon Intellectual Property and Life Story” that is unusual for an employment agreement like this one. 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. 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. He will also see all unvested shares vest, likely delivering a $4.3 million payout if a deal closed 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.Īccording 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). However, the company is on the market and may get sold this year. 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. Most of the time, however, those agreements don’t include the rights to make a miniseries about your life. 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 (sometimes called a “golden parachute”). McMahon, meanwhile, gets to cash out while still remaining involved (the Succession parallels here are truly something), and we will presumably get even more blurred lines between the world of MMA and the world of professional wrestling.Roku Orders 'WWE: Recruits' Docuseries With John Cena Producing There’s a non-zero chance they’d look to further strengthen that relationship should WWE rights ever hit the market again, although obviously that’s speculation. ESPN currently has the rights to UFC fights, while in recent years (right up through this weekend’s Wrestlemania) they’ve shown much more willingness to cover WWE events. ![]() ![]() This move obviously has wide-reaching implications for the media world. Dana White will remain as president of UFC, while WWE CEO Nick Khan will serve as president of the wrestling business. McMahon, likewise, is expected to be executive chairman, while Endeavor President Mark Shapiro will also work in the same role at the new company. The Endeavor deal gives WWE an enterprise value of $9.3 billion, they said.Įmanuel, a media executive, is expected to act as chief executive of both Endeavor and the new company. Endeavor is slated to own 51% of the new combat sports and entertainment company, while WWE shareholders would get 49%, according to the people.
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