TKO Group Holdings is finalizing an agreement with Saudi Arabia’s Public Investment Fund (PIF) to establish a new boxing league, according to TKO COO Mark Shapiro.

During the company’s 2024 earnings call, Shapiro detailed the structure of the potential deal, confirming that TKO would oversee production, promotion, and daily operations without providing financial capital. Instead, the company would receive a minimum $10 million annual fee and could earn equity over a five-year period, contingent on meeting performance benchmarks.

A TKO delegation, including CFO Andrew Schleimer, WWE President Nick Khan, and UFC COO Lawrence Epstein, recently met with Saudi representatives in London to advance negotiations. Shapiro indicated that while an official announcement is pending, discussions are nearing completion.

Additionally, TKO would promote and produce four major boxing events, with two expected to take place in 2025 and two in 2026. These may operate independently from the new league but would still involve TKO as the event operator.

UFC President Dana White has previously voiced interest in entering boxing promotion, while Saudi Arabia has solidified itself as a major boxing hub, hosting high-profile fights such as Tyson Fury vs. Oleksandr Usyk.

TKO Group has announced its first “TKO Takeover” event series featuring WWE, UFC, and PBR at Kansas City’s T-Mobile Center from April 24-28, 2025. TKO Press Release

The series will begin with Professional Bull Riders on Thursday (April 24), continue with UFC FIGHT NIGHT on Saturday (April 26), and conclude with WWE Raw on Monday (April 28).

VeChain, UFC’s Official Blockchain Partner since 2022, will be the inaugural presenting partner. An all-in-one ticket bundle will be available starting March 3.

Peter Dropick, TKO Executive VP, called it, “a unique opportunity to showcase these three premier properties in one city.”

Kathy Nelson of the Kansas City Sports Commission noted these events “will generate significant economic impact for our hotels and local businesses.”

The three organizations have a long history in Kansas City, collectively bringing more than 60 events to the city over the past two decades. Money in the Bank 2010 remains its most notable PPV/PLE at the T-Mobile Center.

TKO Group Holdings (NYSE: TKO), the parent company of WWE and UFC, hit a new all-time high of $153.89 in trading today, driven by a combination of strong insider activity, strategic growth prospects, and bullish analyst outlooks.

Price Target Upgrades

Several prominent analysts raised their price targets for TKO stock:

• Guggenheim increased its target from $142 to $170, reaffirming a “Buy” rating.
• Canaccord Genuity also raised its target, citing positive financial trends and strong company performance.

Insider Buying Activity

The stock’s surge was partly fueled by significant insider purchases. Major shareholders acquired $50.3 million worth of TKO stock, signaling confidence in the company’s growth trajectory.

Strategic Growth Drivers

Market optimism is further supported by several key factors:

• Media Rights Renewals: Analysts expect the renewal of UFC and WWE Pay-Per-View deals with Peacock to deliver substantial value, with UFC rights potentially doubling in value.
• Operational Synergies: The merger between WWE and UFC has yielded over $100 million in cost savings, with projected revenue synergies exceeding $250 million.
• Sports Rights Market: A competitive landscape for sports broadcasting rights has generated significant interest in UFC, enhancing TKO’s market positioning.

These factors collectively demonstrate TKO’s ability to capitalize on strong industry trends and operational efficiencies, bolstering investor confidence and driving today’s record stock performance.

TKO Group reported its Q3 2024 results today, highlighting a 14% year-over-year increase in WWE revenue, UFC sponsorship growth, and raised full-year guidance, alongside a focus on international expansion and new media partnerships. TKO Group Third Quarter 2024 Earnings can be viewed in their entirety at investor.tkogrp.com.

Performance Breakdown

WWE Segment

WWE reported strong growth with Q3 revenue reaching $326.3 million, up 14% year-over-year, largely due to increased media rights, live events, and sponsorships.

Sponsorship revenue was a notable success, with TKO emphasizing its potential as an underappreciated revenue stream. The upcoming Netflix deal is expected to further boost WWE’s sponsorship and site fees.

WWE expanded its international presence, holding 18 events outside the U.S., including the successful “Bash in Berlin” event in Germany.

UFC Segment

UFC’s Q3 revenue totaled $354.9 million, contributing significantly to TKO’s overall revenue. This marked an 11% decline year-over-year, driven by fewer marquee events, though sponsorship revenue increased by $10.2 million.

Strategic Highlights and Future Outlook

Synergies: TKO reported progress in achieving cost synergies post-merger, which was a focal point in the earnings call.

Future Guidance: TKO raised its 2024 revenue guidance to $2.745 billion.

Acquisitions: The company is preparing to integrate Professional Bull Riders (PBR) and other Endeavor sports assets.

Q&A Highlights:

UFC TV Rights: Mark Shapiro noted that TKO is looking to maximize UFC’s TV rights value, with ESPN+ subscriptions and ratings performing well.

PPV Model: Shapiro emphasized the strength of UFC’s PPV model both domestically and internationally, stating that many networks are interested.

Boxing Expansion: Shapiro downplayed Dana White’s comments about entering boxing, clarifying that any potential entry would be through partnerships rather than acquisitions, with a goal to modernize boxing’s business model.

UFC Fight Pass: TKO is seeing international growth in UFC Fight Pass subscriptions and plans to keep it separate from other media deals.

Netflix Sponsorships: TKO is exploring new WWE sponsorships globally, including a partnership involving Netflix and Minute Maid.

Talent Retention: Shapiro expressed confidence in talent retention, stating that WWE and UFC are seen as prime destinations, with cost control remaining a priority.

Endeavor Assets: TKO does not plan to pursue further acquisitions beyond recent additions like PBR, focusing instead on optimizing current assets.

Key Points:

• WWE President Nick Khan and TKO executives Ari Emanuel and Mark Shapiro attended Michael Rubin’s lavish July 4th White Party in the Hamptons

• The event, hosted by Fanatics CEO Rubin, featured A-list celebrities and is significant due to Fanatics’ lucrative merchandise deals with WWE and UFC

WWE President Nick Khan and TKO executives Ari Emanuel and Mark Shapiro joined a host of A-list celebrities at Fanatics CEO Michael Rubin’s annual July 4th White Party in the Hamptons.

The star-studded event, held at Rubin’s $50 million oceanfront mansion in Bridgehampton, saw attendees adhering to an all-white dress code. Notable guests included Kim Kardashian, Tom Brady, Jake Paul, Emily Ratajkowski, and Megan Fox. The party featured performances by Mary J. Blige and a fireworks display.

Rubin, whose company Fanatics has lucrative merchandise partnerships with both WWE and UFC, has turned this into a yearly tradition. The gathering highlights the close business relationships between Fanatics and major sports entertainment brands like WWE and UFC under the TKO umbrella.

Why Fanatics CEO Michael Rubin Loves WWE

Michael Rubin has good reason to invite Nick Khan, Ari Emanuel and Mark Shapiro to his epic Hamptons gathering. Back in April, Rubin called WWE’s growth and potential “absolutely insane” and said the “insatiable demand” for WWE merchandise leaves the world’s top sports leagues in the dust.

Fanatics works with the NFL, NCAA, MLB, NASCAR and countless other leagues, but Rubin couldn’t contain his excitement about WWE.

“The biggest growth sport in my mind Well, are we looking at percents, dollars? What’s wild, I’ll tell you honestly, what’s going on with WWE is insane. If I look at the growth in our WWE business, and it’s a big business already, it’s absolutely insane.”

“NFL is a multi-billion dollar business. Baseball is a multi-billion dollar business. We look collectively within our overall business, if you talk about growth percent, what’s going on with WWE is spectacular.”

Read more about Michael Rubin, the billionaire entrepreneur and philanthropist who founded Fanatics.

WWE operates on many layers, because there is a complicated business world behind the sports entertainment lights. Nick Khan has been responsible for ushering WWE into a new era, but he is now selling out his remaining shares.

It was revealed on Friday that McMahon is selling up to 8.02 million shares he owns, per Sportico. The shares Vince McMahon has listed for sale are valued at over $776 million, based on TKO’s closing price of $96.76 on Friday. He is not the only person who is unloading a ton of stock, because Nick Khan is also listing all of his remaining TKO shares.

WWE president Nick Khan is also listed as a seller in the prospectus. He plans to sell his entire stake of 234,424 shares, including restricted stock units he has accumulated over time.

Despite these sales, Khan will continue in his current role at the company, as confirmed by a source familiar with the transaction who wished to remain anonymous and was not authorized to speak publicly on his behalf.

It’s important to understand that the filing only makes these shares eligible for sale; it doesn’t necessarily mean they will be sold. However, in the corporate world, such filings typically precede the actual sale of the shares soon after. Generally, in the business sector, when shares are listed like this, they tend to be sold.

Nick Khan’s Life Prior To WWE

Before joining WWE, Khan served as Co-Head of Television at CAA, where he represented top figures and organizations in sports media, negotiating media rights deals worth billions of dollars. Khan came on board at WWE in 2020 and played a pivotal role in driving the company to achieve record revenue and profitability.

He started his career as a practicing attorney, so he understands the intricacies of contract talks. Nick Khan and The Rock have also been friends since childhood, giving another strong connection to the pro wrestling business.

It will be interesting to see what his next move is, especially if he sells all of his stock, but remains with the company.

SEScoops will have more on this still-developing story as additional information is made known.

Vince McMahon is selling his remaining shares in TKO Group Holdings, marking the end of his over 50-year association with the pro wrestling business.

It was revealed in a prospectus on Friday that McMahon might sell up to 8.02 million shares he owns, per Sportico. These shares are valued at more than $776 million, based on TKO’s closing price of $96.76 on Friday.

It’s important to note that the filing simply makes the shares eligible for sale and does not guarantee that they will be sold. However, in the corporate world, such filings generally lead to the actual sale of the listed shares shortly thereafter. That being said, in the business world, shares put up like this usually sell.

McMahon has been inching toward a full departure from WWE for quite some time. Before the announcement on Friday that he might sell all his TKO stock, McMahon had sold $1.365 billion of TKO stock since November. If he sells his remaining shares at market value, he will have made over $2 billion from TKO stock in six months.

If you’re wondering if Vince will start a new pro wrestling company, that doesn’t seem to be in the cards. Dave Meltzer of the Wrestling Observer Newsletter reports, while Vince is interested in pursuing new business opportunities in the future, starting a new wrestling promotion is not on his agenda. The general consensus in the wrestling community is that it would be impractical for him to start from scratch and compete against an established giant like WWE.

McMahon isn’t the only person selling all of their TKO stock, because WWE President Nick Khan is doing the same.

Vince McMahon’s WWE Exit

McMahon has been with WWE for decades, first entering the company in the 1960s. After taking ownership from his father, Vince led the company into a global superpower. Bill Simmons’ upcoming Netflix docuseries will undoubtably tell that story in full.

In 2022, McMahon resigned from WWE after it was revealed that the company had made payments to settle sexual misconduct claims against him. However, as the main shareholder, he reappointed himself as chairman at the end of the year to help sell the company. In September, Endeavor Group Holdings, the company that owns UFC, bought WWE and formed a new publicly traded company called TKO.

McMahon resigned from his position as executive chairman of TKO in January following a sex trafficking lawsuit that accused him and other executives of sexual coercion and other serious acts. Slim Jim pulled their sponsorship just prior to the 2024 Royal Rumble premium live event, causing TKO CEO Ari Emanuel and TKO President and COO Mark Shapiro to urge McMahon’s resignation. 

TKO Group Holdings was created after Endeavor Group Holdings acquired WWE the previous year.

Dwayne Johnson was awarded 96,558 shares of TKO Group Holdings Class A common stock on Sunday, April 7, the day after returning to the ring at WrestleMania 40. The shares are valued at approximately $9.4 million.

According to a new financial filing, the previously restricted stock units vested upon “completion of certain services described” in his Independent Contractor Services and Merchandising Agreement dated January 22, 2024. He joined TKO’s 13-person Board of Directors the following day.

That agreement allows WWE to use The Rock’s name, image and likeness for up to ten years in exchange for approximately 400,000 shares of TKO stock currently valued at approximately $39 million.

According to Sportico, the first 25% of shares were awarded in January when the deal was completed. The next 25% will be awarded at the end of the year. Another 25% distributed monthly throughout 2025 and the remaining 25% was the completion of the ‘certain services.’

WWE is in a new era under Triple H, and that means the old guard is becoming a thing of the past. Vince McMahon ran the company for decades, but he will soon have even less of a stake in the business. 

New filings indicate that TKO and Endeavor are in the process of acquiring shares from Vince McMahon. 

Through separate agreements, Endeavor is set to purchase 1,642,970 shares for a sum of $142.6 million, while TKO is poised to acquire an additional 1,853,724 shares for approximately $150 million. This amalgamation of transactions amounts to a grand total of roughly $293 million.

Upon the completion of these deals, which are slated to be finalized on Tuesday and Wednesday respectively, Vince McMahon will retain ownership of 8,021,405 TKO shares. A straightforward calculation reveals that post-transaction, Vince’s stake in TKO will go down to around 4.7%.

NEW FILING: TKO and Endeavor are buying shares from Vince McMahon.

In two agreements, Endeavor is buying 1,642,970 shares for $142.6M and TKO is buying an additional 1,853,724 for about $150M, for a total of about $293M.

By my count, after the transactions close on Tuesday and… pic.twitter.com/ibVQDvni4H

— Brandon Thurston (@BrandonThurston) April 8, 2024

Vince McMahon’s TKO Stock Sell-Off

Vince McMahon has unloaded a lot of WWE stock in recent memory. McMahon sold even more TKO Stock at the end of March, as he unloaded 3,484,006 more shares. This sale added to the 5,350,000 shares he sold in early March.

McMahon resigned from the company after Janel Grant’s lawsuit went public. Slim Jim pulled their sponsorship just before the 2024 Royal Rumble event, and that was the final nail in his proverbial coffin.

Ultimately, McMahon was urged by TKO CEO Ari Emanuel and TKO President and COO Mark Shapiro to resign. Now, Vince is no longer an active part of the company, and it appears that he will have even fewer shares soon enough.

Endeavor, the parent company of TKO Group Holdings/WWE is to be taken private and will see all shares acquired by private equity firm Silver Lake. 

As part of the deal, Endeavor stockholders will receive $27.50 per share in cash, representing a premium of 55% to the closing price of $17.72. This number was before Silver Lake said in October 2023 that they were working on a proposal to take the company private. 

What This Means for TKO

Endeavor has said that it would not consider a sale of its majority interest in TKO Group Holdings, which consists of both WWE and the UFC. TKO is not party to this transaction and will remain a publicly traded company, the companies said on Tuesday.

While TKO is not expected to be directly involved with this move, the company is seeing a benefit from the change. After news of Endeavor’s privatization was announced, stock in the WWE company rose significantly. It had been trading at $86.66 a share before the news broke and rose to $90.78 a share within 90 minutes of the announcement. 

TKO Group Holdings

TKO was officially launched in September 2023. It was announced back in April 2023 that Endeavor was to acquire WWE as part of a historic $9.3 billion deal. The merger of WWE and UFC into TKO did not come without casualties as over 100 employees were let go last year in efforts to synchronize the two sports promotions. WWE would host its first wave of talent releases post-TKO launch that same month. 

WWE was removed from WWE and the company is doing their best to wash him from their history. This all stems from Janel Grant’s lawsuit going public, and he resigned from his role in WWE shortly after that. Now, he is getting out of the TKO business even more by selling off more shares.

Vince McMahon is selling even more TKO Stock as he just unloaded 3,484,006 more shares. This sale adds to the 5,350,000 shares he sold in early March.

McMahon Sells More TKO Stock

Vince McMahon’s mass selloff of TKO Stock continues as he unloaded 3,484,006 shares, as revealed in an SEC filing released by TKO today.

The filing details McMahon’s sale agreement with an unaffiliated bank, obligating him to deliver up to 3,484,006 shares of TKO’s Class A common stock to settle the agreement.

McMahon and the bank amended the agreement on March 1, 2024. The physical settlement, divided into 15 parts, concluded between March 5, 2024, and March 25, 2024, resulting in McMahon receiving approximately $100 million.

How Much TKO Stock Vince McMahon Has Left

In early March, Vince McMahon also sold 5,350,000 TKO shares at $77 each, generating $411,950,000 from the transaction

Despite the recent sales, McMahon still retains ownership of roughly 11.5 million shares of TKO Group, indicating his continued interest in the company’s performance and future prospects.

He still does not have enough stock to be able to arrange any sort of takeover like he did after his first retirement. We will have to see if WWE continues avoiding any mention of Mr. McMahon on television.

For what it’s worth, TKO Group Holdings stock has shot up in recent memory. Many attribute that rise in value to their impending Netflix deal.

SEScoops will have more of this story, and so much more. Please keep checking back throughout the day for more headlines.

WWE is celebrating a boom in popularity right now, and their parent company, TKO is raking in the cash. Some believe that RAW’s new Netflix deal has given a huge surge for the company’s stock price.

TKO Group Holdings experienced a significant surge of over 7% in mid-day trading, reaching around $86 per share. Bank of America raised TKO’s price target, attributing the optimism to the company’s recent partnership with Netflix.

TKO’s Stock Price Surge

On Monday, Citi reiterated its Buy rating on TKO Group Holdings (NYSE: TKO) and raised the stock price target to $130 from $125. This adjustment came after TKO Group’s recent deal with Netflix (NASDAQ:NFLX), which didn’t cause the expected increase in the company’s share price.

Citi’s analysis identifies three factors impeding the stock’s performance: the potential EDR transaction, the ongoing UFC lawsuit, and McMahon’s share sales. Despite these challenges, Citi sees a favorable risk-reward balance for TKO Group, with the current share price of around $80 offering significant upside potential to their $130 bull case scenario and limited downside to their $65 bear case.

Wednesday morning saw TKO trading up over 7%, reaching around $86 by mid-day. Bank of America has also raised its price target for TKO, attributing the increase to optimism surrounding the Netflix deal.

This is certainly a good sign for the company as they round the corner into the road to WrestleMania 40, a time when they historically see another surge in business.

Vince McMahon’s Resignation From WWE

Vince McMahon was removed from power after Janel Grant’s lawsuit exposed a number of heinous allegations, including sex trafficking and assault. He resigned from his position with the company after Slim Jim pulled their sponsorship prior to the 2024 Royal Rumble event.

Since McMahon’s departure, WWE has continued to grow, and their new Netflix deal is a sign of that. Only time will tell where RAW goes from November to December 2024, as USA Network and Netflix’s deal has a three-month gap. They will certainly cash in with a huge Netflix deal once 2025 starts.

SEScoops will have more on this story, and many more, as we continue down the road to WrestleMania 40. For more on this story, and so many more headlines, please keep checking back throughout the day.

Vince McMahon is no longer officially associated with WWE, a company he boosted into an internal publicly traded company. He recently sold a ton of stock, but what is his standing in the company now?

TKO disclosed today that Vince McMahon sold 5,350,000 TKO shares at $77 each, generating $411,950,000 from the transaction. According to the filing, McMahon retains ownership of 15,002,105 shares. As of today’s closing price of $81.39 per share, McMahon’s total investment in TKO is valued at $1,221,021,326.

McMahon’s Big Pay Day

Vince McMahon’s association with WWE came to an abrupt turning point following his resignation from his role within the company. Now, he is cashing in after leaving the company he helped build and merge into a global conglomerate.

In a recent disclosure, it was revealed that McMahon opted to sell a substantial portion of his TKO shares, totaling an estimated $412 million. This strategic move not only serves to enhance McMahon’s financial standing but also raises a lot of questions about how he will spend that money.

With the sale of 5,350,000 shares, McMahon’s remaining stake in TKO now stands at around 15 million shares, constituting approximately 9% of the total outstanding TKO stock. So, he doesn’t own enough of the company to perform any kind of takeover in the future, as he did after his first “retirement” when the story first broke that he had a ton of NDAs and hush money agreements floating around.

Vince McMahon’s Resignation From WWE

Vince McMahon was forced to resign from WWE after Janel Grant’s lawsuit went public, along with the heinous allegations against him. The minute Slim Jim pulled their Royal Rumble in the eleventh hour before the big event, WWE knew they couldn’t have that slippery slope.

TKO CEO Ari Emanuel and TKO President and COO Mark Shapiro reportedly “urged” Vince to step down, and leave the company. Not long after his resignation was announced, Slim Jim returned to sponsor the Royal Rumble, and they even got an advertisement as part of LA Knight’s entrance during the show.

Vince McMahon has since been removed from WWE content to the best of their ability. His face was even blurred during cut scenes in WWE 2K24.

SEScoops will have more updates on this story, and so much more in the coming months. Keep checking back for more details on the stories you need.

Mark Shapiro has once again reiterated that Vince McMahon is gone from TKO Group Holdings and that he will not return. 

While McMahon was able to force his way back into WWE in January 2023, his most recent resignation happened under much different circumstances thanks to the launch of TKO Group Holdings last September. 

Mark Shapiro on Vince McMahon

Speaking at the Morgan Stanley conference, TKO’s COO Mark Shapiro addressed McMahon’s departure and his recent offloading of TKO stock. Shapiro made it clear that TKO did not participate in the sale. Shapiro added that McMahon does not work for TKO, does not go to the offices and is not coming back to the company. 

Plans for Branding

Over the past year, WWE has seen an increase in branding usage on camera at WWE events. During the conference, Shapiro said that “not to criticize Vince McMahon” but he believes WWE didn’t utilize enough branding opportunities in arenas. UFC, the other half of TKO, uses arguably too many, according to Shapiro, who said that WWE will continue to use sponsors on WWE ring assets. 

WWE RAW & Netflix

In January 2025, Monday Night Raw will move to Netflix in a blockbuster deal that will mark the end of WWE’s flagship show on broadcast television. Shapiro said that “not in my wildest dreams” did he expect Netflix for the Raw deal, and that the conversation was originally about WWE NXT. Shapiro credits WWE President Nick Khan and TKO CFO Andrew Schleimer for negotiating the deal.

What’s to Come? 

Shapiro was pleasantly surprised by the buzz that this year’s Royal Rumble and Elimination Chamber events made. Looking ahead, he said fans can expect celebrities from the William Morris-Endeavor (WME) agency at WrestleMania. Partnering with Fanatics for WWE World is going well, and can be considered a blueprint for future projects.

Vince McMahon’s story with WWE may be over after he resigned from his position. That being said, the company still made him a very rich man, with the ability to cash out his massive stockpile of assets, and he decided to cash in on some of those options today.

McMahon recently sold 5,350,000 shares of TKO, worth around $412 million. It’s unclear why he needs the money, but he’s certainly getting a nice windfall of cash from this exchange.

Vince McMahon Unloading Stock

In a recent filing, it has been disclosed that Vince McMahon has sold a significantly large portion of his shares in the company. The filing reveals that McMahon has divested 5,350,000 shares of TKO, amounting to a total value of approximately $412 million.

Following this transaction, McMahon’s remaining stake in TKO stands at around 15 million shares, which corresponds to approximately 9% of the total outstanding TKO stock. This move indicates a substantial reduction in McMahon’s ownership interest in the company, although he still retains a significant portion of TKO shares.

Vince McMahon still has a ton of stock, but it’s not enough where he can re-insert himself into the WWE fold as he did before. The fact that he is selling even more stock would also give an idea that he has no intention to come back in the same way.

NEW FILING: Vince McMahon sells 5,350,000 TKO shares, a value of $412 million.

After the transaction, he has about 15 million shares, or about 9% of all TKO stock. pic.twitter.com/SropbXk5Dg

— Brandon Thurston (@BrandonThurston) March 5, 2024

Mr. McMahon’s WWE Exit

McMahon resigned from his position with the company after Janel Grant’s lawsuit included damning allegations of sex trafficking and so much more. Now, we will have to see if anything happens with that lawsuit, or if they decide to settle out of court.

Vince McMahon helped build WWE into what it became today, but he no longer has an active hand in the company’s product. It remains to be seen if he will hold onto every bit of TKO stock he has left, but he’s certainly not opposed to selling some of it.

SEScoops will have more updates on this story as they are available. 

Dwayne “The Rock” Johnson now officially owns the rights to his iconic wrestling persona, according to the WWE 2023 Earnings release. The announcement showed the transfer of intellectual property from WWE to Johnson’s affiliates.

Per an IP Assignment Agreement (via PWInsider), WWE assigned ‘The Rock’ trademark along with associated trademarks, service marks, ring names, taglines, and other related intellectual property assets to Johnson’s affiliates.

A search of the US Patent & Trademark Office database shows marks such as ‘The Rock’ are now owned by a Florida-based entity called DJIP, LLC.

According to a new SEC filing, Johnson’s new IP includes the following nicknames and catchphrases:

Names:

• The Rock
• Rocky Maivia
• Team Corporate
• Rock Nation
• The Nation
• Roody Poo
• Candy Ass
• Jabroni
• The Samoan Sensation
• The Blue Chipper
• The Brahma Bull
• The People’s Champion
• The Great One
• The Most Electrifying Man in Sports and Entertainment

Catchphrases:

• If you smell what The Rock is cooking
• Know Your Role and Shut Your Mouth
• Team Bring It
• Just Bring It
• The People’s Elbow
• Rock Bottom
• Finally, The Rock has come back to …
• It doesn’t matter what…
• Blue Hell
• The millions… (and millions)
• Rockpocalypse
• Project Rock
• The most electrifying man in sports and entertainment

Additionally, WWE entered into an Independent Services Contractor and Merchandising Agreement with Johnson and his affiliates, wherein Johnson agreed to provide promotional services to WWE.

Under the terms of the agreement, Johnson will license the assigned IP and his name and likeness to WWE for use in certain licensed products related to professional wrestling for up to 10 years. In exchange for his services and the IP licenses, Johnson received restricted stock units worth $30,000,007 in Class A common stock.

The Johnson Equity Award will vest in stages: 25% immediately, 25% upon completion of specified services, 25% by December 31, 2024, and the remainder in equal monthly installments from January 31, 2025, to December 31, 2025.

Cashing in on his brands

Prior to this agreement, Johnson received annual royalties from WWE for his appearances in WWE-produced content, merchandise, and services, totaling approximately $491,000 for the year ended December 31, 2023. 

Following the agreement, Johnson will continue to receive annual royalties from WWE and will also earn royalties from licensed products utilizing the assigned IP and his intellectual property rights, as outlined in the Johnson Services Agreement.

This comes after Johnson was appointed to TKO Group Holdings Board of Directors in January. He said at the time:

“My grandfather, High Chief Peter Maivia, and my dad, Rocky ‘Soulman’ Johnson, would’ve never thought this day would come. Which is why I’m very humbled to have a seat at the table that has decades of history and family legacy for me. A table that my family helped to build. Being on the TKO Board of Directors, and taking full ownership of my name, ‘The Rock’, is not only unprecedented, but incredibly inspiring as my crazy life is coming full circle.”

TKO Group Holdings is not in contact with former Chairman Vince McMahon, according to TKO COO Mark Shapiro.

McMahon stepped down from WWE one month ago due to the shocking allegations made against him in Janel Grant’s lawsuit. McMahon has claimed that the litigation is rife with fabrications and has claimed he is completely innocent. Former WWE executive John Laurinaitis, who is named in the suit, has claimed he is a victim, not a predator, in this situation.

Mark Shapiro On Vince McMahon

During TKO’s recent 2023 fourth quarter earnings call, Mark Shapiro was asked about the McMahon situation and a potential impact on TKO. Shapiro made clear that TKO has continued to distance itself from the 78-year-old McMahon.

“He’ll do whatever he’s going to do, and we’re all on the sideline. We’ll have a look, we’ll see. We have no idea on timing. We’re not having any discussion with him. He’s given us no point of view on his motive or his plans to sell or not sell, or if he does, how much. So, we’re going to wait around and find out just like you.”

Shapiro did not specifically address the allegations against McMahon. Ari Emanuel, the CEO of both Endeavor and TKO Group Holdings, did not comment on McMahon. 

What’s Next for TKO?

With McMahon gone, Ari Emanuel has replaced the 78-year-old as the Executive Chair of TKO. Emanuel already serves as the company’s CEO. Steven R. Koonin has been appointed the Lead Independent Director of the McMahon allegations and how it relates to TKO. Both appointments came into effect as of February 22. 

H/T – Deadline

TKO has given a clear statement regarding the departure of Vince McMahon who despite his exit, is said to have a significant amount of voting power. 

McMahon stepped down from WWE one month ago due to the shocking allegations made against him in Janel Grant’s lawsuit. McMahon has claimed that the litigation is rife with fabrications and has claimed he is completely innocent. Former WWE executive John Laurinaitis, who is named in the suit, has claimed he is a victim, not a predator, in this situation.

TKO Group Holdings Comments

In the 2023 Earnings filing, TKO Group Holdings had the following to say about McMahon in their “Legal Proceedings” division of the filing: 

“Vincent K. McMahon, who served as Executive Chair of the Company’s Board of Directors until January 26, 2024, controls a significant portion of the voting power of the issued and outstanding shares of the Company’s common stock. 

Mr. McMahon has agreed to make future payments to certain counterparties personally. In accordance with the SEC’s Staff Accounting Bulletin Topic 5T, Miscellaneous Accounting, Accounting for Expenses or Liabilities Paid by Principal Stockholders (“Topic 5T”), the Company concluded that these amounts should be recognized by the Company as expenses in the period in which they become probable and estimable.

In connection with the acquisition of WWE, the Company assumed $3.5 million of liabilities related to future payments owed by Mr. McMahon to certain counterparties, of which $2.0 million was paid directly by Mr. McMahon during the period of September 12, 2023 through December 31, 2023.

“During the period of September 12, 2023 through December 31, 2023, the Company recorded $3.5 million of expenses associated with payments made directly by Mr. McMahon to certain counterparties. These costs are included within selling, general and administrative expenses in our consolidated statements of operations.

Additionally, during the period of September 12, 2023 through December 31, 2023, the Company recorded $3.5 million of costs associated with payments made directly by Mr. McMahon related to WWE’s global headquarters lease. These costs are included within finance lease right-of-use assets, net in our consolidated balance sheets. These payments are considered non-cash capital contributions and are included as a component of principal stockholder contributions in our consolidated statements of stockholders’/members’ equity.

“As of December 31, 2023, total liabilities of $1.5 million are included within accrued expenses in our consolidated balance sheets related to future payments owed by Mr. McMahon to certain counterparties.

What’s Next for TKO? 

With McMahon gone, Ari Emanuel has replaced the 78-year-old as the Executive Chair of TKO. Emanuel already serves as the company’s CEO. Steven R. Koonin has been appointed the Lead Independent Director of the McMahon allegations and how it relates to TKO. Both appointments came into effect as of February 22. 

The agreement for The Rock to battle Roman Reigns at WrestleMania was finalized weeks prior to Cody Rhodes winning the Royal Rumble. This was not a deal they made public, but it was part of his appointment to TKO’s Board of Directors.

The Rock’s Big WrestleMania 40 Deal

Last month, The Rock was appointed to the TKO Board of Directors. As a component of the arrangement, he acquired complete ownership of the “The Rock” name and received $30 million in company stock.

Dave Meltzer noted on Wrestling Observer Radio, that The Rock wrestling Reigns at WrestleMania was also part of the agreement. This deal was made on January 3rd, and that begs the question as to why WWE still booked Cody Rhodes to win the 2024 men’s Royal Rumble match.

When (Rock) made the deal on January 3 to come in (facing Roman at WrestleMania) was part of the deal. Why Cody Rhodes won the Royal Rumble is a question that I cannot answer because nobody will answer it for me.

Apart from Nick Khan and Ari Emanuel, very few individuals, if any, were informed about the arrangement for Rock to challenge Reigns at WrestleMania. The prevailing sentiment backstage during the Royal Rumble was that it would be Rhodes vs. Reigns.

I reported on January 28th that, “The only people who really know what is happening with Rock are the people at the very top of the company, and they are all playing it very close to the vest.” This was after Cody Rhodes won his second consecutive Royal Rumble match and punched his ticket to WrestleMania 40.

The only people who really know what is happening with Rock are the people at the very top of the company, and they are all playing it very close to the vest.

— Aaron (@AaronVarble) January 28, 2024

WWE Will Use The Rock Controversy

WWE now intends to incorporate the negative response to Rhodes being excluded from the WrestleMania main event into the storyline. Dave Meltzer continued to explain that everything played out in this way, but there is no way to tell how the storyline will advance from this point on.

(It) played out the way they wanted it to play out. The plan as of Friday night was Seth Rollins and Cody Rhodes and we’ll see how it plays out because now they’re trying to turn it into a story and we’ll see how the story goes.

The Only Way WWE Would Change WrestleMania Main Event Plan

I previously reported that The Rock taking Cody Rhodes’ spot at WrestleMania was seen as a “power play.” When inquiring if this situation resembles his attempt to enter the DC Cinematic Universe with Black Adam, where he wanted to take control of the operation, I was informed that it’s a “great analogy.”

WWE is also well aware about fan backlash. It has become impossible to overlook at this point, with USA Today, TMZ, and other outlets running stories about fans being upset over The Rock taking Cody Rhodes’ spot against Roman Reigns at WrestleMania 40.

When inquiring whether the fan backlash could alter the prospective WrestleMania plans, the response was, “there’s no chance in hell.” The only thing that could change the direction for WrestleMania’s main event at this point is Dwayne Johnson changing his mind.