WWE has severed its deal with trading card company Panini for breach of contract.
According to sports business reporter Darren Rovell, WWE terminated the partnership two weeks ago citing a breach of contract.
WWE has announced that it will seek an injunction to stop Panini from selling its products.
WWE’s deal with Panini was announced in October of 2021 and began in Q1 2022. The deal was valued in the “low eight-figure” range.
WWE’s merchandise partner Fanatics is expected to scoop up the rights immediately. Fanatics was previously slated to commence work with WWE in 2026.
JUST IN: Two weeks ago, the WWE terminated Panini for breach of contract with 2+ years left.
The WWE says Panini, which is still selling product, is now in violation and will seek an injunction.
Fanatics, which had deal starting in ‘26, is expected to get rights immediately.
— Darren Rovell (@darrenrovell) September 20, 2023
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WWE Ends Partnership with Panini for Breach of Contract
In a surprising turn of events, World Wrestling Entertainment (WWE) has recently terminated its partnership with trading card company Panini due to a breach of contract. The decision was made two weeks ago, and WWE has announced that it will seek an injunction to prevent Panini from selling its products.
The partnership between WWE and Panini was initially announced in October 2021 and officially began in the first quarter of 2022. The deal was valued in the “low eight-figure” range, indicating a significant financial commitment from both parties. However, WWE’s decision to sever ties with Panini suggests that the breach of contract was substantial enough to warrant such action.
While the exact details of the breach have not been disclosed, WWE’s swift response indicates the severity of the situation. The termination of the partnership implies that Panini failed to fulfill its contractual obligations, which likely had a detrimental impact on WWE’s business interests.
Following this development, WWE’s merchandise partner Fanatics is expected to step in and acquire the rights immediately. This move comes as a surprise since Fanatics was initially scheduled to commence work with WWE in 2026. However, with Panini’s contract violation, WWE seems eager to secure a new partner promptly.
The termination of the partnership between WWE and Panini has sent shockwaves through the wrestling and trading card communities. Both industries have seen a surge in popularity in recent years, with trading cards becoming highly sought-after collectibles among fans. The collaboration between WWE and Panini was seen as a significant opportunity for both parties to capitalize on this growing trend.
Fans and collectors who were eagerly anticipating WWE-themed trading cards from Panini may now have to wait for Fanatics to take over and release their own line of products. It remains to be seen how this transition will affect the availability and design of future WWE trading cards.
As WWE seeks an injunction to prevent Panini from selling its products, the legal battle between the two companies is likely to unfold in the coming weeks. The outcome of this dispute will have far-reaching implications for both WWE and Panini, potentially reshaping their respective business strategies and partnerships moving forward.
In the meantime, wrestling enthusiasts can stay updated on all the latest news and developments in the industry through eWrestlingNews.com. The website provides comprehensive coverage of wrestling events, rumors, and behind-the-scenes stories. Additionally, fans can also follow eWrestlingNews on Twitter and Facebook for real-time updates.
The termination of WWE’s partnership with Panini serves as a reminder of the importance of contractual obligations and the potential consequences of breaching them. As both companies navigate the aftermath of this decision, it remains to be seen how they will adapt and move forward in an ever-evolving industry.