The hierarchy of power in the WWE is about to change. Dwayne Johnson officially gains ownership over his moniker The Rock. He joins the board of directors for the WWE parent company TKO Group.
According to The Hollywood Reporter, TKO officially celebrated the announcement on Tuesday. The company also owns the UFC as well. Johnson inked a deal with the company over merchandising for The Rock, which will grant him $30 million over time. In return, WWE will get to use the title for the next decade.
“My grandfather, High Chief Peter Maivia, and my dad, Rocky ‘Soulman’ Johnson, would’ve never thought this day would come,” Johnson said in a statement. “Which is why I’m very humbled to have a seat at the table that has decades of history and family legacy for me. A table that my family helped to build. Being on the TKO Board of Directors, and taking full ownership of my name, ‘The Rock’, is not only unprecedented. But incredibly inspiring as my crazy life is coming full circle.”
Johnson made his start in the WWE as a performer before transitioning into film. He recently made a return to the franchise earlier this year. Johnson said he looks forward to growing the brand further.
“At my core, I’m a builder who builds for and serves the people, and [TKO CEO] Ari [Emanuel] is building something truly game-changing,” he added. “I’m very motivated to help continue to globally expand our TKO, WWE, and UFC businesses as the worldwide leaders in sports and entertainment. While proudly representing so many phenomenal athletes and performers who show up every day putting in the hard work with their own two hands to make their dreams come true and deliver for our audiences. I’ve been there, I’m still there and this is for them.”
WWE Company Welcomes Dwayne Johnson
TKO CEO Ari Emanuel welcomed the actor and former wrestler aboard the brand. Johnson is also an owner of UFL as well Seven Bucks Productions. He has long worked in the business world striking brand deals with Under Armour and creating his own alcohol brand Teremana.
“I am thrilled to partner with Dwayne and welcome his immense talent to TKO’s Board,” Emanuel said in a statement. “Dwayne brings an incredible track record of creating content and building globally recognized consumer brands, and he will play a key role in realizing our ambitions for TKO.”