Below are a couple of top WWE & AEW news stories of the day, involving Triple H, Vince McMahon and QT Marshall.
• A pension fund has filed a lawsuit against Vince McMahon and other senior leaders of World Wrestling Entertainment Inc. (WWE), challenging the company’s $21.4 billion merger with Ultimate Fighting Championship (UFC), owned by Endeavor Group Holdings Inc.
The lawsuit alleges that McMahon, utilizing his influence, orchestrated an unfair merger to secure his power over WWE, rejecting higher offers in favor of a deal with Endeavor CEO Ari Emanuel, described as his “longtime friend”.
The lawsuit claims that a board of loyalists then created a biased sales process favoring Endeavor and excluding other potential bidders. The transaction closed in September, giving former WWE investors a 49% stake in the new parent company, TKO Group Holdings Inc., a subsidiary of Endeavor.
The lawsuit targets McMahon, his son-in-law Paul Levesque (Triple H), company president Nick Khan, and other board members at the time of the transaction.
WWE has not yet responded to the lawsuit, and Endeavor and TKO are not named as defendants.
• QT Marshall is leaving All Elite Wrestling. He issued the following statement:
“Thank you AEW. Thank you Tony Khan. I’ve had the privilege of being here since day 1 and I’ve written over 750 formats for All Elite Wrestling and always with pride. As much as I’ve enjoyed being a VP, Manager of Talent Relations and wearing a myriad of hats, the company has changed a lot since 2019 and is heading in a different direction and I feel that it’s best I do the same as we only get one chance to go All In!
I have officially resigned from AEW and will have fulfilled all obligations by the end of 2023.
Thank you to everyone from the front office to the production truck to some of the hardest working talent in this sport! Most importantly, thank you to those who booed, cheered, and took part in this season of my life.”
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