Former WWE Chairman Vince McMahon and XFL commissioner Oliver Luck agree to end the $24 million XFL lawsuit in a mutual agreement
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Vince McMahon and Oliver Luck have reached to an settlement regarding the XFL lawsuit
Vince McMahon founded the XFL back in 2018 which is based in Greenwich, Connecticut. Oliver Luck was hired as a commissioner for the league by Vince McMahon. The inaugural season of the XFL in 2020 could only run for 5 weeks as the Covid-19 pandemic which took the whole world by a storm forced the season to take a pause. No one knew for how long the ongoing activities would be stopped but many had a hope to get on the track sooner, that however didn’t happened as the outbreak got worsened and all the major activities were forced to stop with an immediate effect worldwide.
The XFL’s operations filed for bankruptcy on April 13, 2020 as they were not able to generate any sort of capital whatsoever during the closure of the games. Viewing the situation, Vince decided to suspend all the operations and cut employees on April 10th . Oliver Luck sued the former WWE chairman for mishandling his contract with the XFL.
He felt that just before when the league filed for bankruptcy, his contract was being cut-off misleadingly due to which he felt the need of a compensation and he in turn of that demanded a heavy amount of $24 million as a compensation although McMahon insisted that Luck was fired “for cause”.
The two former business partners were set for a court trial on July 15th this year. But now the things have taken a massive turnaround as both business stalwarts have been said to mutually agree on a settlement for the alleged lawsuit.
According to a report from the Sports Business Journal, Vince McMahon and former XFL commissioner Oliver Luck have reached an agreement on the $24 million lawsuit and there would be not further court trials on the same.
Brandon Thurston of Wrestlenomics has revealed that one of Oliver Luck’s attorneys have confirmed to him that the lawsuit is indeed settled. “The parties have amicably resolved this matter, and wish each other well in future endeavors”, Thurston added.
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Vince McMahon recently stepped down as the CEO and Chairman of WWE
Amid the currently ongoing investigations over the 76-year old regarding the $3 million settlement to cover up one of his alleged affairs with a former female employee, McMahon voluntarily stepped down as the acting Chairman and CEO of the company. Soon after this announcement, her daughter Stephanie McMahon was named the Interim CEO and Chairwoman of WWE until the investigations are being undertaken.
Although being surrounded by various allegations recently, Vince McMahon decided to show up on the WWE programming this past week on Smackdown as well as he kicked-off Monday Night Raw last night to hype up John Cena’s return next week.
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