WWE & Merchandising Partner Reportedly Reach Agreement To Settle Lawsuits
Not too long ago, the business relationship between WWE and merchandising partner, Panini, turned from sweet to sour with WWE seeking to end their agreement, claiming breach of contract. The two sides almost immediately found themselves in court over the matter as Panini continued selling WWE trading cards. A preliminary injunction hearing on the case had been scheduled, but it appears that will no longer be necessary. Attorney and author Paul Lesko shared via X (formerly Twitter) that Panini and WWE had reached an agreement in principle to settle the case.
Potential BIG update in the Panini/WWE lawsuit.
In a letter to the court, the parties note that "discussions between the parties and their counsel have resulted in an agreement in principle. The parties are in the process of memorializing that agreement in a signed writing." pic.twitter.com/4is99RyFdQ
— Paul Lesko (@Paul_Lesko) November 15, 2023
Talks on reaching a settlement look to have moved forward after a pair of phone conversations between Panini higher-ups and WWE CEO Nick Khan. Those discussions became public after the judge in the case ordered the parties to file a letter with the court, detailing talks the sides had "regarding a temporary path forward to govern the parties' relationship."
The reason we got this letter was because the judge ordered the parties to "file a letter detailing the extent of the principals' and counsel's communications regarding a temporary path forward to govern the parties' relationship." pic.twitter.com/khN9P0q05P
— Paul Lesko (@Paul_Lesko) November 15, 2023
And it appears there was two half-hour discussions between Nick Khan (CEO, WWE) Mark Warsop (CEO, Panini America) and Elisabetta Mussini (Group Licensing Director, Panini S.p.A.) that led to this settlement in principle.
— Paul Lesko (@Paul_Lesko) November 15, 2023
With the case headed toward the finish line, details are murky for the time being as to what the settlement means for WWE's relationship with either Panini or Fanatics — their new partner — going forward. Per Lesko, the proposed settlement could lead to WWE and Panini continuing to work together, or perhaps ends up with Panini selling its merchandise rights to Fanatics.