More details continue to come out regarding the new WWE contract that Vince McMahon signed at the end of March, just days before it was announced that the Endeavor Group had acquired the company.
As previously reported via an SEC filing, McMahon became an employee again after receiving a stock award with a market value of $4.7 million. For now, he remains the controlling shareholder of the company.
The deal stipulates that he will serve as Executive Chairman for two years from his start date of January 9, 2023, when he returned to WWE.
A report by The Hollywood Reporter indicates that “McMahon’s continued employment shall be conditioned on” compliance with WWE’s “Conflict of Interest and Code of Conduct” and their “Equal Opportunity and Non-Harassment Policy.”
The clause in the deal comes after McMahon walked away from WWE last summer after being investigated by the Board of Directors for hush money payments made by him to women with whom he had affairs.
The day after WrestleMania 39, it was announced that Endeavor would be acquiring WWE with the plan to merge it with the UFC to form a company. Although the WWE Board didn’t want McMahon to return to the company in December, McMahon pushed his way back in.
Endeavor CEO Ari Emanuel has stated that he is the one who wanted McMahon to stay on once the acquisition had been completed.
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