As part of Dwayne “The Rock” Johnson being appointed on the TKO Board of Directors, the People’s Champion got something big: full rights to The Rock trademark with no strings attached.
In a Form 8-K filing with the United States Securities and Exchange Commission, it was revealed that TKO Group entered into an IP Assignment Agreement with Johnson to hand over The Rock trademark and certain related trademarks, service marks, ring names, taglines and other intellectual property assets.
Effective yesterday, WWE also entered into an independent contractor and merchandise deal with The Rock to provide to WWE certain promotional and other services. Under the agreement, Johnson agrees to license the name, likeness and certain other intellectual
property rights to WWE for use in connection with certain categories of licensed products related to professional wrestling for up to 10 years, subject to certain earlier termination rights.
Johnson will receive TKO stocks to a value of $30 million which will fully vest in 2025. He will also receive annual royalties from WWE in connection with his appearances in WWE-produced content, merchandise, and other services performed for WWE.
For the year ended December 31, 2023, Johnson received royalties in an aggregate amount of approximately $491,000.