Wrestlenomics’ Brandon Thurston recently revealed fascinating details concerning Dwayne “The Rock” Johnson’s WWE talent agreement following his appointment to the TKO Board of Directors this January.
As part of WWE’s annual report, Johnson’s talent contract surfaced as an attached exhibit to a Security and Exchange Commission filing from this past February. For further details, you can view the full report here.
The Independent Contractor Services and Merchandising Agreement, or Exhibit 10.29, encompasses some elements, but others are redacted for confidentiality. This source outlines notable sections of Johnson’s contract:
-Johnson is permitted to work with third-party service providers to create concepts, scripts, and storylines with WWE’s consent, including reimbursement for related costs through his company, Seven Bucks Entertainment. While a name is redacted in the document, speculation points to Brian Gewirtz, a former WWE writer and Seven Bucks executive.
-The agreement grants Johnson $30 million in TKO equity, referred to as “the Johnson Equity Award,” which will be fully vested by late 2025, with most disbursed by the end of 2024. This equity includes compensation for licensing his name, persona, and “certain other intellectual property rights” in relation to select wrestling-related licensed products for a potential ten-year span. Key intellectual properties like The Rock persona and various signature catchphrases are controlled by Johnson and are restricted from use in specific arenas without his endorsement.
-By the close of 2023, Johnson received close to $491,000 in royalties, and he is poised to continue earning annual royalties from products that feature his intellectual property.
Dwayne Johnson is currently busy with the production of A24’s “The Smashing Machine,” and is slated to begin work on the live-action adaptation of Disney’s “Moana.”
FAQs about Dwayne Johnson’s WWE Talent Contract
- What responsibilities does Dwayne Johnson have in his WWE talent contract?
- Johnson has the ability to collaborate with third-party service providers to create concepts, scripts, and storylines subject to WWE’s approval.
- What is the value of Johnson’s contract in terms of equity?
- The contract is worth $30 million in TKO equity, which is vested until the end of 2025.
- Can Dwayne Johnson’s intellectual property be used freely by WWE?
- No, Johnson maintains control over his intellectual property, including his name, persona, and catchphrases, which are restricted from certain uses without his permission.
- Is there any indication of who might be collaborating with Johnson on creative development?
- While a name is redacted in the contract, there is speculation that it could be Brian Gewirtz, a former WWE writer and executive at Seven Bucks Entertainment.
Conclusion
The details disclosed about Dwayne Johnson’s WWE talent contract paint a picture of a multifaceted and lucrative agreement that offers him not only significant equity but also creative control and ongoing royalties. These revelations underscore the valued relationship between Johnson and WWE, and his continued influence and legacy within the wrestling entertainment industry. As Johnson ventures into new film productions, it is clear that his ties to WWE remain strong and beneficial.