WWE recently revealed that Nick Khan was hired as the new WWE President and and CFO and it appears that WWE already has his first big project loaded up and it’s a very big one.
The Wrestling Observer is reporting that Nick Khan will be tasked with attempting to sell parts of the WWE Network (perhaps just live PPV’s) to a much larger streaming company to get similar money that he got when negotiating on behalf of RAW and SmackDown with NBCUniversal and FOX.
Vince McMahon rigorously attempted to sell WWE Network content right before WrestleMania but due to the pandemic all negotiations and talks were halted. Nick Khan is known for being an expert in negotiating and is expected to be the main person involved in selling WWE Network content.
When it comes to Khan and his new WWE contract, Khan’s base salary is $1.2 million per year. He has a severance package that will see his base salary paid through the length of the contract as long as certain criteria is met in regards to WWE’s Severance Policy. He is also eligible to participate in WWE’s Discretionary Bonus Plan, which is based on WWE’s level of achievement and Khan’s personal performance measures. The contract notes that the term of the agreement is five years from the start date of August 5. The employment is on an at-will basis so WWE or Khan can terminate the employment at any time, without cause or reason. The contract states Khan must provide WWE with 60 days advance written notice if he plans to quit. Khan will be based out of WWE HQ in Stamford, CT.
The filing notes that Khan is also receiving a one-time Sign-on Bonus of $5 million, payable on the first payroll following the beginning of his employment. The job also comes with $15 million worth of Class A Common Stock. The first $6 million is to be paid around his official start date, while the remaining $9 million is to be issued around September 20, 2022.
READ MORE: WWE Names Nick Khan President & Chief Revenue Officer
