Triple H received stunning bonus payment after WWE-UFC merger
Triple H received a huge bonus.
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Topics: Triple H, WWE, Vince McMahon, UFC
Ryan Smart
Topics: Triple H, WWE, Vince McMahon, UFC
WWE head of creative Triple H received a huge bonus from the merger between UFC and WWE, filings related to the subject state.
Triple H - real name Paul Levesque - signed with WWE (then WWF) in 1995, and was one of the top stars of company throughout the 2000s and early 2010s.
As his in-ring career began to come to an end, 'The Game' transitioned into executive roles, and was named as the Executive Vice President, Talent and Live Events. The role was updated in 2013 to encompass his involvement in creative - which decides on storylines and character developments on WWE programming.
He was the founder and executive producer of NXT, and was widely praised throughout the brand's 'black and gold era' in helping to produce and promote top stars of the future. In fact, every current main roster champion, except Rey Mysterio, was involved with the NXT or NXT UK brand before moving to the main roster.
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Triple H is currently filling several roles within the company. He is the head of creative, an executive producer and the Chief Content Officer.
And following the $21.4 billion merger of UFC and WWE into a new holding company - TKO Group Holdings - on Tuesday, a huge bonus payment to the 54-year-old was triggered.
Triple H receives huge bonus after WWE-UFC merger
As per a filing from the United States Security and Exchange Commission (SEC) in April (when the proposed merger was announced), Triple H was due a significant $5 million payment if the WWE-UFC merger went through.
WWE president Nick Khan, meanwhile, was in line to receive $15 million, while Frank Riddick was also due $5 million.
The filing states: "In light of significant contributions to the Company prior to and in connection with the Transactions and to promote retention, the Company ... entered into bonus letter agreements ... with certain executive officers including Nick Khan, the Company's Chief Executive Officer, Frank A. Riddick III, the Company's President & Chief Financial Officer, and Paul Levesque, the Company's Chief Content Officer.
"For Messrs. Khan and Levesque, the amount of their Bonuses is equal to $15,000,000 to $5,000,000, respectively, with 100% of such amount payable as soon as practicable following the closing date of a Qualifying Sale Transaction, subject to their continuous employment through the closing date."
Triple H is not on the Board of Directors as part of his involvement with the new company, however, which is majority owned by Endeavor. He will now report to Khan in his role as head of creative.