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WWE has launched the "Next In Line™" NIL program, aimed at creating a pathway from collegiate athletics to WWE. Following the NCAA's NIL policy effective July 1, 2021, this program will recruit and develop future Superstars by partnering with college athletes. Participants will gain access to the WWE Performance Center and professional resources. WWE aims to expand its talent pool significantly. The first NIL deal was announced with Gable Steveson, an Olympic gold medalist. The inaugural class of NIL partnerships will be unveiled soon.
Positive
Launch of NIL program enhances talent recruitment.
Access to WWE Performance Center for athletes.
Potential for exclusive WWE contracts post-program.
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None.
New Program to Provide Clear Pathway from Collegiate Athletics to WWE
STAMFORD, Conn.--(BUSINESS WIRE)--
WWE (NYSE: WWE) today announced the launch of a groundbreaking NIL (Name, Image & Likeness) program that will provide a clear pathway from collegiate athletics to WWE.
Following a historic new policy by the NCAA effective July 1, 2021, which ushered in the NIL era allowing college athletes the ability to monetize their name, image and likeness, WWE has constructed a comprehensive program to recruit and develop potential future Superstars. Dubbed “Next In Line™,” the NIL program aims to enhance the talent development process through collaborative partnerships with college athletes from diverse athletic backgrounds.
“The WWE NIL program has the potential to be transformational to our business,” said Paul Levesque, WWE Executive Vice President, Global Talent Strategy and Development. “By creating partnerships with elite athletes at all levels across a wide variety of college sports, we will dramatically expand our pool of talent and create a system that readies NCAA competitors for WWE once their collegiate careers come to a close.”
All athlete partnerships will feature access to the state-of-the-art WWE Performance Center in Orlando, Fla., in addition to resources across the organization including brand building, media training, communications, live event promotion, creative writing and community relations. Upon completion of the NIL program, select athletes may earn an exclusive opportunity to be offered a WWE contract.
In September, WWE announced its first NIL deal with heavyweight freestyle wrestler Gable Steveson who captured a gold medal at the Tokyo Olympics. The agreement allowed Steveson to return to the University of Minnesota for his senior season where he is defending his NCAA National Championship while beginning his Superstar training with WWE.
WWE will unveil the first class of NIL partnerships in the coming weeks.
About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, pay-per-view, digital media and publishing platforms. WWE’s TV-PG programming can be seen in more than 900 million homes worldwide in 28 languages through world-class distribution partners including NBCUniversal, FOX Sports, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all live pay-per-views, scheduled programming and a massive video-on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.
Trademarks: All WWE programming, talent names, images, likenesses, slogans, wrestling moves, trademarks, logos and copyrights are the exclusive property of WWE and its subsidiaries. All other trademarks, logos and copyrights are the property of their respective owners.
Forward-Looking Statements: This press release contains forward-looking statements pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995, which are subject to various risks and uncertainties. These risks and uncertainties include, without limitation, risks relating to: the impact of the COVID-19 outbreak on our business, results of operations and financial condition; entering, maintaining and renewing major distribution agreements; a rapidly evolving media landscape; WWE Network (including the risk that we are unable to attract, retain and renew subscribers); our need to continue to develop creative and entertaining programs and events; the possibility of a decline in the popularity of our brand of sports entertainment; the continued importance of key performers and the services of Vincent K. McMahon; possible adverse changes in the regulatory atmosphere and related private sector initiatives; the highly competitive, rapidly changing and increasingly fragmented nature of the markets in which we operate and greater financial resources or marketplace presence of many of our competitors; uncertainties associated with international markets including possible disruptions and reputational risks; our difficulty or inability to promote and conduct our live events and/or other businesses if we do not comply with applicable regulations; our dependence on our intellectual property rights, our need to protect those rights, and the risks of our infringement of others’ intellectual property rights; the complexity of our rights agreements across distribution mechanisms and geographical areas; potential substantial liability in the event of accidents or injuries occurring during our physically demanding events including without limitation, claims alleging traumatic brain injury; large public events as well as travel to and from such events; our feature film business; our expansion into new or complementary businesses and/or strategic investments; our computer systems and online operations; privacy norms and regulations; a possible decline in general economic conditions and disruption in financial markets; our accounts receivable; our indebtedness including our convertible notes; litigation; our potential failure to meet market expectations for our financial performance, which could adversely affect our stock; Vincent K. McMahon exercises control over our affairs, and his interests may conflict with the holders of our Class A common stock; a substantial number of shares are eligible for sale by the McMahons and the sale, or the perception of possible sales, of those shares could lower our stock price; and the volatility of our Class A common stock. In addition, our dividend is dependent on a number of factors, including, among other things, our liquidity and historical and projected cash flow, strategic plan (including alternative uses of capital), our financial results and condition, contractual and legal restrictions on the payment of dividends (including under our revolving credit facility), general economic and competitive conditions and such other factors as our Board of Directors may consider relevant. Forward-looking statements made by the Company speak only as of the date made and are subject to change without any obligation on the part of the Company to update or revise them. Undue reliance should not be placed on these statements. For more information about risks and uncertainties associated with the Company’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of the Company’s SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q.
