New WWE CFO Expected to Lead Efforts to Sell WWE Network Content

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WWE recently revealed that Nick Khan has been hired as the new WWE President and CFO and it looks like WWE has already loaded its first big project and it’s a really big project.

The Wrestling Observer reports that Nick Khan will be tasked with trying to sell parts of the WWE Network (maybe just live PPVs) to a much larger streaming company to get money similar to the one he has. obtained when trading on behalf of RAW and SmackDown with NBCUniversal and FOX.

Vince McMahon made a rigorous attempt to sell WWE Network content right before WrestleMania, but due to the pandemic all negotiations and discussions were halted. Nick Khan is known to be an expert at negotiation and is expected to be the primary person involved in selling WWE Network content.

As for Khan and his new contract with WWE, Khan’s base salary is $ 1.2 million per year. He has severance pay which will have his base salary paid over the term of the contract as long as certain criteria are met regarding WWE’s departure policy. He is also eligible to participate in the WWE discretionary bonus plan, based on WWE’s level of achievement and Khan’s personal performance metrics. The contract notes that the term of the agreement is five years from the start date of August 5. Employment is at will so that WWE or Khan can terminate employment at any time without cause or reason. The contract says Khan must provide WWE 60 days written notice if he plans to quit. Khan will be based at WWE HQ in Stamford, CT.

The record notes that Khan also receives a one-time signing bonus of $ 5 million, payable on the first pay following the start of his employment. The work also includes $ 15 million of Class A common stock. The first $ 6 million is due around its official start date, while the remaining $ 9 million is due around September 20, 2022.

READ MORE: WWE appoints Nick Khan as president and chief revenue officer

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