July 12, 2000: Vince McMahon speaks during an XFL press conference at the House of Blues in Los Angeles, California. Mandatory credit: Tom Hauck / Allsport
It has been a difficult month for WWE President Vince McMahon. Just days after resigning from the company’s CEO, he eased his wallet a little from the failed relaunch of XFL in 2020.
On Monday, McMahon and former XFL Commissioner Oliver Luck agreed on the terms of the settlement in Luck’s lawsuit for the wrongful termination of $ 24 million. McMahon fired Lucka for the cause in 2020 – just days before the XFL shut down due to COVID-19.
Both sides were on the verge of trial in July. According to Ben Fischer of the Sports Business Journal, a short conference took place between them on Wednesday, which seemed to lead nowhere.
But the very next day, McMahon made a settlement offer, which Luck accepted. The next day, McMahon resigned as WWE CEO.
Sports fans were a mix of overwhelmed and ticklish turn of events. Some laugh at what a bad week McMahon is having, while others ask if his “bad week” caused him to make the offer in the first place rather than fight in court:
Last week, Vince McMahon became the center of the company’s investigation into an alleged settlement of a dispute between him and a former company representative over their relationship.
When WWE began the investigation, McMahon voluntarily resigned as CEO and chairman, but was allowed to continue making creative decisions for the company. His daughter Stephanie McMahon will be interim CEO and president.
As for the XFL, the league ended just five weeks into its first season. Since then, it has been bought by another former WWE icon – Dwayne “The Rock” Johnson – who intends to bring the league back in 2023.
But for Vince McMahon, his dream of creating a football league is back in the smoke.
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