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As per the reports Vince McMahon has now signed a 2-year contract with WWE amidst the efforts to sell the company Dating back to January. This was the time that McMohan returned back as the chairman of the board to help with the sale of the company.
The said contract was filed with the Securities and Exchange Commission on Wednesday which also included Vince McMohan retaining the exclusive rights to his life story and a multimillion dollar payout for him in the event of the company being sold. Here is everything that we need to know about Vince McMahon’s two year contract with WWE.
Vince McMohan contract with WWE
According to the reports, WWE has been looking to sell the company and Vince McMahon might get at least severance package of $11 million. He is also a majority stakeholder in WWE and might receive his shares worth around $2.6 billion.
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As per Securities and Exchange Commission filing, with this two-year contract Vince McMahon has also rights to exploit his life story in any form including scripted program, documentary, and book.
WWE CEO Nick Khan told CNBC earlier this week, ‘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’. WWE hopes to sell the company for $9 billion.
Earlier Vince McMahon also stepped down as the CEO of WWE last summer because of the sexual misconduct allegations. He has also reportedly spent millions of dollars because of these sexual misconduct allegations. The 77 year old’s daughter Stephanie took over as co-CEO before resigning in January. This has left Nick Khan as the sole CEO of WWE.
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