Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Vince McMahon signs 2-year WWE contract amid efforts to sell company By: FOX Business March 31, 2023 at 18:23 PM EDT Vince McMahon's two-year World Wrestling Entertainment contract would give him a handsome severance package and the rights to his "life story" if the company is sold. Vince McMahon signed a two-year contract with WWE this week that dates to January, when he returned as chairman of the board to help with a potential sale of the company. The contract was filed with the Securities and Exchange Commission Wednesday and includes a multimillion-dollar payout for McMahon in case the company is sold, and he retains the exclusive rights to his "life story."Under the contract, his annual base salary is $1.2 million with a 175% bonus target on top of that. The WWE is actively looking to sell the company, and McMahon could get at least $11 million in a severance package, according to The Hollywood Reporter. WWE HIRES FIRMS TO EXPLORE ‘STRATEGIC ALTERNATIVES’ IN NEXT STEP TOWARD POTENTIAL SALE: REPORTMcMahon is the majority shareholder and could receive around $2.6 billion from his shares, which were valued at more than $90 as of Friday, according to the Reporter. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COMThe SEC filing says McMahon will also keep the rights to "exploit his life story" in any form, including a book, documentary or a scripted program. The 77-year-old stepped down as CEO of WWE last summer amid a barrage of sexual misconduct allegations, and his daughter Stephanie and took over as co-CEO. She resigned in January, leaving Nick Khan as sole CEO. Khan told CNBC McMahon is willing to leave the company in the event of a sale. "Vince made it clear to me and to the marketplace that he does not need to be included in any offer or any deal moving forward, and he has held to his word on that as many of us predicted he would," Khan said this week. McMahon is hoping to sell the company for $9 billion, according to Bloomberg. CLICK HERE TO GET THE FOX NEWS APPFox Business has reached out to WWE for comment. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Vince McMahon signs 2-year WWE contract amid efforts to sell company By: FOX Business March 31, 2023 at 18:23 PM EDT Vince McMahon's two-year World Wrestling Entertainment contract would give him a handsome severance package and the rights to his "life story" if the company is sold. Vince McMahon signed a two-year contract with WWE this week that dates to January, when he returned as chairman of the board to help with a potential sale of the company. The contract was filed with the Securities and Exchange Commission Wednesday and includes a multimillion-dollar payout for McMahon in case the company is sold, and he retains the exclusive rights to his "life story."Under the contract, his annual base salary is $1.2 million with a 175% bonus target on top of that. The WWE is actively looking to sell the company, and McMahon could get at least $11 million in a severance package, according to The Hollywood Reporter. WWE HIRES FIRMS TO EXPLORE ‘STRATEGIC ALTERNATIVES’ IN NEXT STEP TOWARD POTENTIAL SALE: REPORTMcMahon is the majority shareholder and could receive around $2.6 billion from his shares, which were valued at more than $90 as of Friday, according to the Reporter. CLICK HERE FOR MORE SPORTS COVERAGE ON FOXBUSINESS.COMThe SEC filing says McMahon will also keep the rights to "exploit his life story" in any form, including a book, documentary or a scripted program. The 77-year-old stepped down as CEO of WWE last summer amid a barrage of sexual misconduct allegations, and his daughter Stephanie and took over as co-CEO. She resigned in January, leaving Nick Khan as sole CEO. Khan told CNBC McMahon is willing to leave the company in the event of a sale. "Vince made it clear to me and to the marketplace that he does not need to be included in any offer or any deal moving forward, and he has held to his word on that as many of us predicted he would," Khan said this week. McMahon is hoping to sell the company for $9 billion, according to Bloomberg. CLICK HERE TO GET THE FOX NEWS APPFox Business has reached out to WWE for comment.