Earlier this year, Vince McMahon returned to the WWE board and became the Executive Chairman of the company. McMahon made it clear that he wanted to sell WWE to maximize the value of shareholders.
The 77-year-old then chose Endeavor Group Holdings Inc as the suitable buyer for WWE. Endeavor Group officially announced the acquisition of WWE in a press release last Monday. The CEO of Endeavor Ariel Emanual stated that they will merge WWE & UFC to form a new company worth $21 billion.
Prior to the sale, Vince McMahon signed a new employment agreement with WWE on March 29th. The Hollywood Reporter stated that McMahon’s new employment agreement has two special clauses. He should comply with the company’s Conflict of Interest & Code of Conduct and Equal Opportunity & Non-Harassment Policy.
“McMahon, it should be noted, signed a new contract with the WWE on March 29. According to a copy viewed by THR, “McMahon’s continued employment shall be conditioned on” compliance with the company’s “Conflict of Interest and Code of Conduct,” as well as its “Equal Opportunity and Non-Harassment Policy,” among other terms.”
Vince McMahon reached an agreement with WWE regarding the hush money scandal on March 20. You can read more details by clicking here.
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