TKO Group, the prominent sports and entertainment conglomerate that holds ownership of the Ultimate Fighting Championship and World Wrestling Entertainment, has announced the appointment of Dwayne “The Rock” Johnson to its esteemed board of directors.
A Renowned Figure in Wrestling and Entertainment
At the age of 51, Johnson has an impressive background as a former WWE wrestler, subsequently making a successful transition to acting in blockbuster Hollywood films. Additionally, in 2020, he showcased his business acumen by spearheading a consortium of investors in the acquisition of the XFL, a professional football league that recently merged with its competitor, the USFL. Notably, Johnson is represented by the esteemed talent agency William Morris Endeavor, which boasts an affiliation with TKO Group.
Intellectual Property Rights and Collaboration
In a separate announcement, TKO Group and WWE revealed that they have granted Johnson the intellectual property rights to his renowned “The Rock” trademark, inclusive of associated taglines and other valuable assets. Furthermore, TKO Group and Johnson have entered into an agreement stipulating that he will provide promotional services to WWE.
Valued Stock Compensation
Considering Johnson’s integral role as a promotional asset, he is set to receive approximately $30 million worth of TKO stock as compensation for his services under this agreement.
