Vince McMahon's life after WWE: Kittens, vacations and staying in touch with Trump

As he faces a mountain of legal woes, former WWE leader Vince McMahon is traveling, eating out and keeping in touch with friends and associates — including former President Donald Trump.

McMahon resigned as executive chairman of World Wrestling Entertainment’s parent company almost three months ago after a former employee, Janel Grant, accused him in a bombshell lawsuit of sexual abuse and trafficking. He denied the allegations. McMahon, 78, is also facing a federal criminal investigation, although he hasn’t been charged.

NBC News and CNBC talked to 11 people familiar with McMahon and WWE about how he’s been spending his time — and how the global brand he built over more than four decades is moving on without him. These people, including close personal associates and company insiders, declined to be named, citing ongoing legal cases and the confidential nature of internal corporate communications.

Multiple WWE insiders said he hasn’t had any contact with company leaders and figureheads since he resigned. Mark Shapiro, the operating chief of WWE parent company TKO Group Holdings, said in March that McMahon “doesn’t work for the company, doesn’t come into the office, and he’s not coming back to the company.”

That also means McMahon hasn’t talked to his son-in-law, WWE creative chief and former superstar Paul “Triple H” Levesque, or daughter, Stephanie McMahon-Levesque, regarding company matters, sources said. While she introduced WWE’s WrestleMania event earlier this month, McMahon-Levesque, who worked beside her father for more than 20 years and played roles in storylines, currently has no involvement with the company, according to people familiar with the matter. Levesque and McMahon-Levesque declined to comment through a spokesperson, as did a WWE representative.

McMahon is nonetheless indelibly linked with the wrestling outfit, which he bought from his father 42 years ago. Still, he seems to have moved on, according to multiple sources. McMahon has kept up his other routines, and it’s as if he’s unfazed by his legal fights, two sources said...More?

source: nbcnews.com

Vince McMahon Puts Remaining TKO Stock Up For Sale in Major Financial Move

Vince McMahon is actively offloading his holdings in TKO stock, placing all his remaining shares on the market. According to a recent SEC filing, McMahon, alongside stockholders Nick Khan and Steven Koonin, listed their shares for sale but have not yet completed any transactions. McMahon has made available 8,021,405 shares, his entire remaining stake, following a sale earlier in the week of nearly 3.5 million shares, which brought him over $300 million.

Listing shares for sale does not guarantee their immediate purchase, but it does open the possibility for McMahon to potentially earn more. If sold at current market prices, his 8 million-plus shares could yield over $786 million. Amidst ongoing legal issues, McMahon has been converting his stock into cash rapidly, amassing approximately $1.5 billion from these sales. This aggressive divestment suggests that McMahon is distancing himself significantly from TKO and WWE, likely marking a permanent departure.

Triple H: I Told Ari Emanuel When TKO Formed, ‘I Just Want To Have Fun. If It’s Fun, I’ll Stay’

Triple H just wanted to have fun.

WWE and UFC officially merged in September 2023 to form TKO under the Endeavor banner. Triple H was already appointed as the Chief Content Officer, but Vince McMahon would often make remote changes throughout 2023.

With the merger, Vince started to become less involved until he eventually resigned as TKO Executive Chairman in January following a lawsuit against him where he was accused of sex trafficking and sexual assault.

With Vince fully out of the picture, Triple H has ushered in a new era.

"I’m loving what I do, that’s the biggest thing for me. When TKO went down and Ari Emanuel talked to me about this, I said, ‘I just want to have fun. If it’s fun, I stay. If It’s not, we’ll figure out something else.’ We’re having fun. I want everyone to have fun. When the signature was playing, I picked up the headset and said, ‘Biggest thing we want to remember tonight, everybody, have fun. Enjoy this.’ If this is fun, everybody loves it. If we have fun making it, you’re going to enjoy watching it. That’s what I believe," Triple H said at the WrestleMania XL press conference.

The Rock comments on the job Triple H has done and how this WrestleMania felt knowing Vince McMahon is no longer involved

“I think that Triple H has done a tremendous job as our chief creative officer, I think that’s his title, he has a few, earned every single one of them. I like ushering in new things and new times and new eras and it feels like in our world here, professional wrestling, it is a new era that we’re ushering in. I talked to Triple H earlier as we were kicking off and kicking off the show tonight and without giving detail on what we talked about, it was a special night for him. This was the beginning of something and marking the beginning of something new for him, under his creative, and I think from a company standpoint, this is an exciting time for the company, for WWE, an exciting time for TKO. You felt the convergence towards the end of the year when the acquisition happened, you felt the convergence in the first quarter of the year as I was fortunate enough to come back and kind of traversed our way to what these storylines could look like, so it’s an exciting time and I think we capped off day one of WrestleMania that we had stated was gonna be the biggest of all time, which is really saying a lot given how many great WrestleManias there has been in the past, so I thought collectively as a company and a team, [it was] a really great show tonight.”

credit 411mania.com for the transcription

AJ Styles reveals why WWE 'isn't the same' under Triple H

AJ Styles has revealed that WWE is incredibly different under Triple H compared to Vince McMahon.

McMahon reigned in the company since its formation a number of decades ago, until his retirement in 2022 following allegations of sexual misconduct, though returned and began to lure control back.

That was until September last year, when WWE and UFC formed a merger under umbrella company TKO, which had McMahon as executive chairman until he resigned in January following allegations of sex trafficking, which he has denied.

Now, the show is run by former WWE star and McMahon's son-in-law, Triple H - real name Paul Levesque - and reports have generally suggested that the company is a much better place to work.

Those opinions were echoed by Styles The Battleground Podcast.

Ronda Rousey Details NXT Being Stolen From Triple H

Writing in her new book Our Fight – available for pre-order now – Ronda Rousey detailed that turbulent time in WWE history and thinks it was McMahon’s “cronies” that made the move to take NXT out of Triple H’s hands:brbr NXT, which had been Triple H’s domain, had been caught in the ongoing family dispute between him and Vince McMahon. Vince’s unwillingness to give up any control made progress on the main roster all but impossible. But operating out from under Vince’s thumb, Triple H had built NXT into a brand that was not only developing WWE’s next generation but producing some of the organization’s best and most innovative wrestling.

People were excited about NXT in a way that they weren’t about Raw and SmackDown’s constant reliance on rehashing the same formulaic story lines over and over. As NXT grew and it became apparent that there was the potential to expand and profit from it, suddenly it became attractive to Vince. In fall of 2019, WWE launched a weekly NXT show—slated to go head-to-head on-air with AEW.

Now, NXT was on the up-and-up, but so too was AEW. Then Triple H almost died, suffering from heart failure and requiring surgery. He stepped away to deal with his health, and in his absence, Vince’s cronies saw an opportunity. NXT was losing the ratings battle to AEW, they whispered to Vince.

Ronda Rousey then took aim at former Head of Talent Relations John Laurinaitis who she claimed was running NXT in Triple H’s stead. It’s safe to say Rousey is no fan of Laurinaitis but says his failure running the brand was systematic of wider problems in the company:

Changes needed to be made. Which is how John Laurinaitis, a former wrestler turned WWE executive and all-around dirtbag, ended up running NXT. Laurinaitis had made a name for himself as an average but by no means outstanding wrestler before he moved into playing an in-ring authority figure type and then a producer. He looked and acted like an entitled sixty-year-old former frat boy. Tall, blondish, and with a cleft chin, he always appeared to be scowling, even when he smiled. His raspy voice earned him the nickname Johnny Laryngitis, which was one of the nicer things people called him.

Whereas Triple H looked for talent and potential in NXT prospects, it appeared John Laurinaitis looked for f*ckability. He further purged the NXT roster, firing it seemed like everyone over twenty-five and turning recruiting attention away from the indie circuits in favor of blonde sorority-types from places like the Universities of Florida and Tennessee.

Putting the blame for the decline on Laurinaitis—which Vince would basically try to do a few months later—would be easy but Laurinaitis was only a symptom of what was wrong within WWE. Honestly, the actual drama was so much better than anything WWE could ever script.

source: tjrwrestling.net

More WWE Executives Revealed As Key Figures In McMahon Sex Trafficking Suit; WWE Responds

More names have been revealed as part of the ongoing sex trafficking lawsuit against Vince McMahon, John Laurinaitis WWE, and unnamed corporate officers.

A new report from Tim Marchman, John Pollock, and Brandon Thurston for Front Office Sports has named President Nick Khan and COO Brad Blum as those identified as Corporate Officers No.1 and No. 2 in the suit filed by Janel Grant in January.
Before their naming in the report, Khan and Blum were alleged to have been instrumental to a scheme in which Grant had been employed in a completely undefined role, except for the understanding that she would remain a sexual slave to be used and trafficked by McMahon within WWE. Khan and Blum are not personally accused of sexual wrongdoing but they are rather part of a group that is claimed to have facilitated and covered up exploitation in a way that would make WWE liable under federal anti-trafficking law.

Front Office Sports' report notes that Blum and Khan were identified independently alongside the two other anonymous corporate officers described in the suit by cross-referencing details within the filing with other records like online resumes and corporate filings. A WWE source also reportedly confirmed details within the suit, such as the location of Khan's office. All names were confirmed with Janel Grant's attorney, Ann Callis.

According to the suit, McMahon presented Blum and Khan to Grant as his key fixers. Nick Khan is the current WWE President under TKO's hierarchy following the merger with UFC last year and has been instrumental in the business growth behind the company in recent years.

The report continues to name Stephanie McMahon as Corporate Officer No.3 within the filing, who is mentioned once in an ambiguous context. It's told how Grant had attended meetings with WWE's executive committee, which was noted to be above her pay grade and something she had even inquired to Khan and Blum about regarding appropriateness. The suit alleged Stephanie McMahon had motioned for Grant to sit near her in these meetings. Ms. McMahon is also described as knowing of "other instances of [Vince] McMahon engaging in inappropriate sexual conduct".

Stephanie McMahon notably took a leave of absence in 2022 – three months after Vince McMahon and Janel Grant signed their $3 million NDA – from her role as Chief Brand Officer. A month later, reports emerged on a probe by the WWE board of directors into unauthorized payments involving NDAs with several former female employees and performers made by Vince McMahon, after which he resigned from his roles as CEO and Chairman and Stephanie McMahon became interim CEO and Chair. When Vince McMahon forced his way back onto the board in early 2023, Stephanie McMahon resigned from her role as Co-CEO – held alongside Nick Khan – and has not returned.

Front Office Sports further identified Brian Nurse – former general counsel and head of WWE's legal department – as Corporate Officer No.4. Nurse is described in the suit as offering the legal role to Janel Grant at the behest of Vince McMahon, a revelation allegedly made by McMahon to Ms. Grant before he sexually assaulted her for the first time. Nurse is claimed to have been terminated or asked to resign as one of a number of employees forced to resign or let go if they knew of McMahon's exploits and failed to assist, support, or facilitate them.

In response to the report, a WWE spokesperson told FOS:
“WWE takes Ms. Grant’s allegations very seriously and has no tolerance for any physical abuse or unwanted physical contact. Neither Nick Khan nor Brad Blum, prior to the lawsuit being filed on January 25, 2024, were aware of any allegation by Ms. Grant that she was the victim of abuse or unwanted physical contact; nor does the complaint allege that either had knowledge of such.”

Nick Khan, Brian Blum and Stephanie Mcmahon are not explicitly accused of wrongdoing.

Attorney For John Laurinaitis: Most WWE Management Knew Of Ashley Massaro’s Allegations

Tim Marchman of VICE News reports that a lawyer for former WWE executive John Laurinaitis, says that most WWE management knew about Ashley Massaro’s allegations that she was raped in Kuwait during a WWE tour in 2006. Massaro had claimed that top executives, including Vince McMahon and Laurinaitis, told her not to talk about it.

McMahon was accused of covering up the alleged incident and of sexually harassing Massaro, according to legal documents and people who knew her. Marchman writes that an attorney for Laurinaitis confirmed that the latter was aware of the allegations, and that “most upper-level management did.” WWE previously claimed that executives were unaware of the claims.

Per Marchman, the Naval Criminal Investigation Service opened an investigation into Massaro’s claims after her death by apparent suicide in 2019. The investigation closed in January 2020, per an NCIS spokesperson, and further information could not be released without doing so through the Freedom of Information Act.

Massaro previously said WWE covered up her rape. Marchman states that people who knew Massaro say that Vince McMahon sexually harassed her. Additionally, Marchman states that what Laurinaitis’s lawyer says is corroborated by a former WWE doctor.

Laurinaitis’ Lawyer Responds To Ashley Massaro’s Allegations

In the report, Marchman cites Laurinaitis’ lawyer, Edward Brennan, who responded to questions about Ashley Massaro’s allegations.

“Any allegations that Mr. Laurinaitus helped to cover up an alleged rape allegation is an outright lie,” Brennan wrote. “Johnny, like most upper level management at sometime became aware of the allegations and ensured all proper WWE protocols were followed, including privacy for the alleged victim. We object to the use of the term cover up as no such plan or plot ever took place to hide or assist in the alleged rape.”  

Furthermore, Marchman states that a spokesperson for TKO declined to comment. A lawyer said to represent McMahon did not respond to requests for comment either.

McMahon and Laurinaitis are both implicated in Janel Grant’s lawsuit, in which she alleges that they engaged in sexual assault and sex trafficking of her. 

Federal Prosecutors Investigate Vince McMahon Sex-Trafficking Allegations

WWE co-founder Vince McMahon is under federal investigation over the allegations of sexual assault and sex trafficking against him, according to a report

Prosecutors in New York have been in touch with alleged victims of McMahon, people familiar with the investigation told the Wall Street Journal.

McMahon resigned last week from the WWE after former employee Janel Grant filed a lawsuit accusing him of sexually abusing her and trafficking her to other men inside the wresting giant.

The former honcho has denied the allegations and said the federal investigation won’t find wrongdoing.

“I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name,” he told the outlet in a statement.

 WWE didn’t respond to requests from the Journal about the investigation or about the individual women’s allegations. 

John Laurinaitis Seemingly Confirms Vince McMahon Allegations, Says He's Also A Victim

Last Thursday, former WWE employee Janel Grant filed a 67-page lawsuit against Vince McMahon, WWE, and former WWE executive John Laurinitis outlining allegations of sex trafficking, sexual assault, and a number of other abuses. McMahon has since resigned from his corporate positions at TKO Group Holdings despite denying the accusations against him. Laurinitis, on the other hand, has seemingly confirmed the allegations against McMahon — though not the allegations against himself.

According to a statement provided by Laurinitis' lawyer, Edward Brennan (via VICE News), the former WWE Head of Talent Relations maintains that he is a victim in this case, much like the plaintiff, Janel Grant.

"Mr. Laurinaitis denies the allegations in the misguided complaint and will be vigorously defending these charges in court, not the media," Brennan wrote on Laurinaitis' behalf. "Like the plaintiff, Mr. Laurinaitis is a victim in this case, not a predator. The truth will come out."

When Brennan was then asked to clarify whether he was claiming McMahon was the predator in this case, he wrote, "Read the allegations. Read the Federal Statute. Power, control, employment supervisory capacity, dictatorial sexual demands with repercussions if not met. Count how many times in the complaint Vince exerts control over both of them."

As cited in the lawsuit, Laurinaitis was named as one of the men that McMahon allegedly recruited for Grant to regularly have sex with, both with and without McMahon himself involved. Grant was supposedly told to create "explicit content" for Laurinaitis, who she also claims raped her alongside McMahon inside Laurinaitis' office in WWE Headquarters. Grant's lawsuit charges Laurinaitis with civil battery, intentional or negligent infliction of emotional distress, and violation of the Victims of Trafficking and Violence Protection Act of 2000.

Triple H When Asked About Vince McMahon Allegations: I Want To Focus On The Positives

At the WWE Royal Rumble post-show press conference, Jon Alba asked WWE Chief Content Officer Triple H about the allegations against Vince McMahon and how the situation affects WWE.

“I’m gonna do exactly what you would expect me to do here,” Triple H said. “Look, we just had an amazing week. A ten-year, $5 billion Netflix deal, Rock joining our board. We just sold out the Royal Rumble, put 48,000 people in Tropicana Field. I choose to focus on the positive. Yes, there’s a negative, but I want to focus on that and just keep it to that.”

Triple H was then asked to describe what is being done to make sure people in positions of power can’t take advantage of employees under them.

“I’ll give you the most generalized answer that I can. Everything possible. That is a very important thing to us, a very important topic to us. It’s as simple as everything possible.”

Triple H Says He Has Not Read The Lawsuit

Brandon Thurston of Wrestlenomics subsequently asked Triple H whether he read the lawsuit featuring the allegations against Vince McMahon.

“I did not. I did not,” Triple H said. “I think Cody mentioned it, that we all found out real-time when you were, and that’s the truth. I’ll go back to what I said before. This is an amazing week for us. I just, at this point, I don’t even want to get bogged down in the negatives of it. I just want to focus on the positives and where we’re going, and we’re at the most exciting time of the year for us, we’re at the most exciting point, to me, business-wise I think that we’ve ever had.

“I think [it’s] the best positioning of this company since the A.ttitude Era. I’ve been through that era. I understand what it’s like. I feel like we are in the middle of something that, while we might not be able to put our finger on it right now, five, ten years from now, we’re gonna be saying wow, what a time that was. I want to focus on that.”

source: wrestlezone and wrestlenomics

End Of An Era 2.0

For the first time since its inception as the Capitol Wrestling Corporation in the 1950's, the only member of the McMahon family currently with the WWE is a Levesque. End of an era.

Statement from Vince McMahon as he officially resigns from TKO

“I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth. I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name.” 

“However, out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effectively immediately.”

Vince McMahon Resigns from Executive Roles at TKO Group Amid Legal Turmoil

Vince McMahon has stepped down from his roles as the Executive Chairman and Board Member of TKO Group Holdings, Inc., a conglomerate created by Endeavor, incorporating both WWE and UFC.

In a communication with employees, WWE President and member of the TKO Board, Nick Khan, announced, "Vince McMahon has relinquished his positions as TKO's Executive Chairman and as a member of the TKO Board of Directors," as reported by Variety. "His involvement with both TKO Group Holdings and WWE has come to an end."

This development follows a lawsuit filed against McMahon by Janel Grant, a former WWE employee. The lawsuit charges McMahon, along with the company and ex-WWE executive John Laurinaitis, of abuse, sexual exploitation, and trafficking her to other individuals, including Laurinaitis, previously the head of talent relations at WWE.

Vince McMahon Makes Public Statement on Abuse and Trafficking Claims

A representative for Vince McMahon has issued a statement in response to serious allegations brought against him. These allegations, which include sex trafficking and abuse, have been detailed in a lawsuit filed on January 25, 2024. 

Responding to the lawsuit, Vince McMahon's spokesperson told Deadline:

“This lawsuit is replete with lies, obscene made-up instances that never occurred, and a vindictive distortion of the truth. He will vigorously defend himself.”

Statement From TKO Group Holdings Concerning The McMahon Lawsuit

After WWE founder Vince McMahon was sued by a former employee, who alleged that he abused and sexually exploited her when he was CEO of the wrestling-entertainment company, a spokesperson for TKO Group Holdings, the parent company of WWE and UFC, said in a statement:

“Mr. McMahon does not control TKO nor does he oversee the day-to-day operations of WWE. While this matter predates our TKO executive team’s tenure at the company, we take Ms. Grant’s horrific allegations very seriously and are addressing this matter internally.”

WWE Founder Vince McMahon Accused of Sexual Abuse and Trafficking in Lawsuit by Former Employee

It's arguably been the most newsworthy week in WWE history, after the promotion announced a 10-year, $5 billion deal with Netflix Tuesday, with WWE Chairman Vince McMahon front and center at the New York Stock Exchange. Now on Thursday, McMahon is front and center again, for all the wrong reasons.

The Wall Street Journal reports that McMahon has been sued by former WWE employee Janel Grant, who has accused McMahon of sex trafficking. The lawsuit, filed Thursday morning, further alleges that McMahon abused and sexually exploited her while he was still WWE's Chief Executive, that he coerced her into sexual relations with the "promise of career advancement," and would later traffic her to other men within WWE.

Grant, who signed an NDA with WWE in 2022, claims she first met McMahon in 2019 in the apartment building they both lived in. McMahon allegedly promised Grant work at WWE and proceeded to "shower her with gifts." The suit goes on to allege that McMahon pressured her into sexual activities in order to secure her a job. Grant was hired by WWE in June 2019 as "administration coordinator," a position McMahon allegedly created for her. She subsequently had little work to do, leading to other WWE employees complaining, and Grant believing her job was "unearned."

Grant further alleges that McMahon would send her sexually explicit messages, increased demands for sex, and began forcefully using "toys" during sex, injuring her. She also claims McMahon would share photos and videos of her with other WWE execs and wrestlers, and that he recruited others in WWE to have sex with her, including then WWE head of talent relations John Laurinaitis. The suit further alleges Grant's mental and physical health deteriorated, leading to McMahon sending her to what was described as a "celebrity doctor" in November, and later paying $20K for surgery.

The suit goes on to claim that Grant would be transferred to the talent-relations division in May 2021, leading to her working directly under Laurinanitis. Grant alleges that a month after the transfer, McMahon and Laurinaitis would lock her in an office, and took turns sexually assaulting her, followed by McMahon assaulting her again a week later.

The suit further claims that Grant would sign an NDA in January 2022, after McMahon told her his wife, Linda McMahon, had learned about their relationship. Nevertheless, McMahon would only pay $1 million of the agreement before ceasing making payments and continued his abuse through March 2022. Grant would also once again text explicit photos to the WWE star, but the two would still never meet.

WWE-UFC Merger Challenged In Lawsuit Alleging “Sham Sales Process” for Megadeal

Investors claim that WWE board members favored a merger with Endeavor's UFC to allow Vince McMahon to stay on as executive chairman of TKO Group.

Vince McMahon’s corporate coup that paved a path for him to force his way back onto the WWE board and merge the sports entertainment powerhouse with Endeavor’s UFC is back in the spotlight, with a lawsuit arguing that he ignored more lucrative offers at the expense of investors.

A suit, unsealed in the Delaware Court of Chancery on Nov. 22, alleges that McMahon pushed a “quick sale” of WWE to Endeavor chief Ari Emanuel, his “close friend and longtime ally” who proposed a sweetheart deal that allowed the wrestling mogul to stay on as executive chairman of TKO Group and avoid scrutiny in connection with sexual misconduct allegations that could’ve ousted him from the company. According to the complaint filed by investors, WWE board members “conjured up a sham sales process” designed to favor Endeavor and “exclude other bidders seeking to axe” McMahon, disregarding at least two all cash offers with betters terms.

The complaint extensively details McMahon’s turbulent tenure as head of WWE, culminating in September with the formation of TKO Group through a $21 billion merger between UFC and WWE. He had returned to the company in January after having stepped down as chief executive amid a sexual misconduct investigation into $17.4 million in hush money payments to four different women formerly employed by the company. McMahon, as WWE’s controlling stockholder, removed and replaced three then-serving board members with himself and former executives George Barrios and Michelle Wilson.

“If McMahon was found to have breached his duty of loyalty, WWE stockholders could have sought his removal as a director,” states the suit. “Such scrutiny appears to have prompted McMahon to seek a ‘quick’ sale of the Company that also allowed him to continue running WWE.”

WWE announced on the same day as McMahon’s return in January a review of strategic options. In a statement, he said that he wanted to lead any talks about a possible sale or rights negotiations himself. Investors claim that he immediately turned to Emanuel, his former agent whom he “knew would allow him to remain at the helm” of the merged entity. They say that both the process and price point were unfair, alleging there were betters deals on the table.

According to the complaint, this included undisclosed companies submitting cash offers at $95-$100 and $90-$97.50 per share. But because they contemplated cashing out WWE stockholders and barred McMahon from rolling over his shares, which would’ve signaled his “complete ouster” from the wrestling world, the board “never bothered to make” counterproposals, the suit states.

Instead, WWE exclusively negotiated with Endeavor, proposing an all-stock deal that was contingent upon McMahon serving as executive chairman of the combined company, the complaint says. Endeavor ultimately agreed, with it owning 51 percent of the post-deal firm and former WWE stockholders owning the remaining 49 percent. Investors allege that merger was consummated at $95.66 per share, which fell below two competing, all-cash offers. (Those WWE suitors were redacted in the complaint. But the companies were described as “major institutions with significant access to capital” that had “compelling reasons to close an acquisition of WWE.” One of them likely had “significant runway to increase its offer due to the outsized synergies it could generate in a combination with” the company, the suit says.)

“Not only did he secure a future for himself at post-merger WWE, McMahon also stuffed his pockets and those of his loyalists before agreeing to a deal,” states the complaint, which points to he and former chief executive Nick Kahn securing so-called golden parachutes, along with Khan, McMahon’s son-in-law and WWE chief content officer Paul Levesque (known professionally as “Triple-H”) and WWE president Frank A. Riddick getting a combined $25 million in cash bonuses.

The suit argues that the $21 billion price tag undervalues WWE. It’s “far below the offers” the board could’ve obtained from multiple other bidders had it “made any effort to negotiate in good faith,” investors claim.

According to the complaint, McMahon and his allies on the board “timed negotiations” to favor a deal with Endeavor, including by providing early due diligence and backchanneling information to the company so that it was able to make an early offer. During this process, WWE only secured a budget for UFC’s current fiscal year rather than insisting on a full set of multi year projections, as is customary, despite agreeing to merger consideration that depended on valuing UFC accurately, the suit says. By rushing to secure a merger with Endeavor without conducting adequate due diligence, investors argue the board got an unfavorable deal in agreeing to a 51-49 split.

The complaint, filed by an Ohio pension fund, names McMahon, Khan, Levesque, Barrios and Wilson, among others. It contains various claims for breach of contract and seeks to represent all stockholders who cashed out their shares in the merger.

WWE didn’t respond to a request for comment.

source: Hollywood Reporter

Vince McMahon Puts More Than 8 Million Shares Of Class A TKO Stock Up For Sale

Vince McMahon is getting ready to sell a significant chunk of his ownership in the company, even ceding some of it to board members Ari Emanuel and Mark Shapiro.

According to a new announcement from TKO, McMahon is selling 8.4 million shares of his Class A stock in the company, roughly 30% of his stake in the company, which Brandon Thurston says is worth roughly $700 million at the stock's closing price. TKO will buy $100 million worth of the stock, while Endeavor CEO Ari Emanuel will purchase $1 million worth of the stock, and Endeavor president Mark Shapiro will purchase 850k of the stock. The remaining stock, worth roughly $598 million at closing price, will be sold to the public.

On Tuesday, McMahon was listed by the company as a possible liability in a filing with the Securities & Exchange Commission. This comes less than two months since TKO filed that all 28.84 million shares of McMahon's Class A stock in the newly minted company were listed for sale, which led to speculation that the company was looking for a way to excise the controversial executive, especially since McMahon was served with a subpoena for a Federal Grand Jury, as well as a search warrant.

Triple H and Vince McMahon Have More Defined Roles in WWE

Per Endeavor CEO Ari Emanuel, Paul “Triple H” Levesque is in full control of WWE creative.

When WWE merged with Endeavor last month, Paul “Triple H” Levesque did not receive a seat on the Board of Directors, a position he had held prior in WWE.

Yet that has not represented a loss of power.

In fact, the opposite has occurred.

If you have noticed a change in WWE programming, you are not alone. Levesque, who is WWE’s Head of Creative, has overseen all of the creative on SmackDown and Raw since the merger, which is precisely what his job description entails.

The difference is that Vince McMahon, who is synonymous with all things WWE, is no longer directly involved in dictating the weekly creative in the same manner he once did. McMahon remained the title of Executive Chairman in WWE, but he no longer possesses majority control of the company. That has allowed for change in the new regime, particularly in the creative department.

Multiple contacts within the WWE and UFC have confirmed that Ari Emanuel, who wields power as the Endeavor CEO, is behind the change. Emanuel has long been a firm believer that, in order for an organization to be as effective as possible, people need to do the job they are assigned. In this case, that approach has empowered Levesque to exert his full influence in the company’s creative sphere.

Not all is lost for McMahon. As Executive Chairman, his focus is elsewhere, particularly in overseeing a lucrative new media rights deal for Raw and the NXT brand. But it is a fascinating time for McMahon.

No longer the be-all, end-all of WWE, McMahon possesses an iron-clad contract that protects him financially–yet not politically. Will he view this as a loss of leverage? His response will be a very telling action.

source:  si.com