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Dwayne Johnson joins TKO's board, gains full ownership of 'The Rock' name

[Source]

Dwayne "The Rock" Johnson has joined the board of TKO Group Holdings, the powerhouse conglomerate resulting from the merger of WWE and UFC.

Power move: According to official documents filed on Jan. 23, Johnson also gains full ownership of his stage name, "The Rock," which was previously owned by WWE. As part of the deal, the WWE champion-turned-Hollywood star will receive $30 million worth of TKO shares over the next two years in exchange for promoting the company and its brands.

Family legacy: In a statement, Johnson expressed his excitement and ambition over the new partnership, reflecting on his family's history in the wrestling world. He also mentioned being inspired after gaining full ownership of his wrestling persona, "The Rock."

"My grandfather, 'High Chief' Peter Maivia, and my dad, Rocky 'Soulman' Johnson, would've never thought this day would come," he said in a statement. "That's why I'm so honored to have a seat at the table that has decades of history and family legacy for me. It's a table that my family helped to build."

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Knockout decision: The move, coupled with the addition of Groupon co-founder Brad Keywell, expands TKO's board to 13 members. In a statement, TKO's Executive Chairman Vince McMahon expressed enthusiasm about Johnson's appointment.

“Very few people on the planet understand the convergence of sports, entertainment, media, and business like Rock,” McMahon was quoted as saying. “We are proud to have him join the TKO board to help take our company to new heights.”

 

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