In January 2024, it was announced that Dwayne “The Rock” Johnson would join the TKO Board of Directors on the same day that WWE announced RAW would be broadcast on Netflix starting in January 2025.
Johnson’s latest venture details were published, revealing that he had agreed to a multi-million dollar payout and had gained ownership of any intellectual property associated with his name, nicknames, catchphrases, and moves.
TKO Holdings published the agreement in full in February as an exhibit in the company’s annual report.
Brandon Thurston of Wrestlenomics has made notable points about the agreement.
The agreement allows Johnson to use “any third party service providers in connection with developing concepts, scripts [and] storylines” while on weekly programming, with the company covering the provider’s expenses. An individual’s name is redacted in the published document.
The agreement also confirms the $30 million payout Johnson is set to receive for joining the TKO Board. This payout was paid in stock and installments when contractually agreed obligations were fulfilled. IP ownership is agreed to for ten years but could be terminated sooner due to “earlier termination rights.”
Furthermore, the agreement states that WWE cannot use Johnson’s name, catchphrases, and likeness to produce products such as alcohol, tobacco, marijuana, or pornography without the written approval of the Hollywood star.
Dwayne Johnson's WWE talent contract was published as an exhibit to WWE's annual report filed back in February.
Parts of it are redacted and the contract has several schedules that are omitted because that information is the type that TKO "treats as private or confidential".…
— Brandon Thurston (@BrandonThurston) April 23, 2024
