WOL Saturday: New court documents focus more on Vince McMahon’s alleged misconduct than valuation & revenue

It’s the Saturday Wrestling Observer Live with Jim Valley.

Are Janel Grant and her accusations ultimately responsible for the TKO merger of Zuffa and WWE? That appears to be at the heart of the case made by the plaintiffs in the WWE shareholders’ lawsuit. Documents made public for the first time offer insight into events surrounding the merger and the opening arguments for attorneys representing WWE shareholders.

While the trial that was scheduled to start Monday is now off the calendar, thousands of pages of depositions, text conversations, and other documents unsealed before trial offer a window into how the deal allegedly came together.

On this episode, I will try to explain why the lawsuit is, or was, about more about behavior than numbers, stocks and balance sheets.

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Lawyers for ‘prolific texter’ Vince McMahon defend use of Signal, alleged missing messages

Even though Vince McMahon didn’t understand “What in the blue hell is ‘Langis’ lol,” his legal team defended his use of the Signal app and other messaging platforms as part of the ongoing WWE shareholders lawsuit.

The communication platform is best known for the ability to not retain a record of messages, hence the difficulty in providing information in lawsuits such as the aforementioned one where a group of shareholders feel McMahon’s decision to enter into an agreement with Endeavor to merge UFC with TKO was pre-determined and thus cost them money.

The plaintiffs filed a motion in April where they claimed “adverse inferences against Defendants related to Defendants’ spoliation of relevant Signal messages and other evidence.”

As noted in a Bloomberg Law article Wednesday, McMahon’s lawyers said there is no gap in traceable communication to be concerned with and that McMahon is “a prolific texter” with 22,000 messages from multiple platforms having already been provided.

From the article:

“McMahon’s attorneys preserved data from his personal devices, even after they were seized by federal authorities investigating sexual misconduct allegations against him, she said. But Signal data sought by the investors wasn’t available for retrieval until after those devices were returned in October 2025.

The investors argue messages apparently missing from chats on Signal, an encrypted platform that can be set to have content disappear, could’ve been relevant to the litigation.

Eric Leon of Latham & Watkins LLP, representing WWE who is also named in the lawsuit, stated, “These parties negotiated this deal really the old fashioned way. They did it with dinners and lunches, and they did it over the phone, and we produced all of the phone records.”

The judge has yet to rule on the motion.

The aforementioned “Langis” reference is to a message McMahon sent to WWE president Nick Khan in February 2023 after Khan wrote “Langis” in reply to McMahon about wanting to have a talk about creative. That exchange took place after Khan said McMahon was no longer involved in creative.

2023 text messages reveal Triple H’s concern about Vince McMahon’s WWE involvement

More unredacted documents from the ongoing WWE shareholders lawsuit revealed some concerns from Paul “Triple H” Levesque over his WWE creative role as relates to Vince McMahon’s return back in 2023 in addition to Levesque’s belief that Nick Khan saved his job.

First reported by Brandon Thurston for Post Wrestling on Tuesday, more text messages sent via WhatsApp were disclosed last week as exhibits for the ongoing lawsuit in which shareholders are disputing the process in which WWE was merged with UFC by Endeavor to create TKO, saying it was unfairly steered toward Endeavor despite other bids.

The messages began on September 11, 2023 — the night before the merger became official. These are all from Levesque to WWE president Nick Khan, a person who Levesque confides in frequently as a friend and power player inside the Endeavor/TKO structure.

Levesque wrote to Khan, “How’s it going so far ? Man, I’m wound tight today …. DDay tomorrow, expecting the worst” to which Khan replied twice but later deleted the messages, a trend throughout the disclosed exchanges. Khan said in legal filings that he doesn’t remember what he said.

Later that same day in which post-merger layoffs were being planned, Levesque texted Khan, relaying a message about McMahon reaching out wanting to discuss talent releases:

“Vkm. Btw I need to meet with all of U tomorrow re talent releases which coincides with all corporate releases Thx” with Levesque asking Khan to speak if he had time.

At the time of the merger, McMahon was the executive chairman of the TKO Board.

Two hours later, Levesque texted Khan again, “While I’m SURE you like to be done with this shit for today ….. Please let me know if you speak to AE” in which AE is assumed to be Endeavor head Ari Emanuel. Khan replied three hours later saying that he would. Levesque asked Khan if he was ok to which Khan replied “Yes sir! How you ?”

Levesque then said “Good anxious for tomorrow and beyond ……”

It’s unclear if Levesque and Khan spoke separately outside these texts.

**********

On the day the merger was made official (September 12, 2023), Levesque messaged Khan again at 6:58 AM:

“Nick , just wanted to take a moment before all the craziness today to say THANK YOU !!!!! Thank you for getting us here … if it wasn’t for you , I would have been gone a long time ago. I appreciate you and all you have done and gone thru …. And I appreciate our friendship… It means the world to me
Thank you and Congratulations”

Khan then replied, “You are my guy. You got me here. I want us to do this for 20 years and call it a day. I appreciate and admire you.”

Levesque then appeared to relay a message from McMahon:

“Just fyi

Morning! VKM looking to set an in person meeting for today at 4pm with you, Bruce and Ed regarding Talent Policies”

Khan replied something, but later deleted it. Whatever it was, Levesque replied, “Done.”

**********

Fast forward to Saturday, December 9, 2023, when Levesque texted Khan the following at 8:17 PM: “Was just told by security that VKM is coming to Cleveland TV Monday. What’s that about ??????”

Khan replied three times, later deleting all of them. Levesque replied “Is he in nyc yet …… When is their meeting?” Khan then replied again, but deleted it.

Some sort of talk between Levesque, Emanuel and possibly Khan appeared to take place — one Levesque was “disappointed” with.

From Sunday: ” the more I think about it the more I’m kinda disappointed in that Ari convo…… Seems like we are in the same place , “I’m gonna tell him to stay out of it or else” that’s way different than “I’m telling him he’s done ….. it’s over” Kicking the can down the road”

That appears to imply Emanuel was going to speak with McMahon about staying out of WWE creative due to concerns Levesque had. After another deleted Khan reply, Levesque asked, “What do u think about me hitting Shapiro to get his take and let him push or better direct to Ari?” followed by more deleted Khan replies. Shapiro is Mark Shapiro, the head of TKO.

The conversation kept going an hour later.

From Levesque: “Between you and I, It feels like they are both backtracking on the “he’s out” narrative. It’s back to the “well if he wants to go to the show now and then” and “if he gives notes and wants to have a 30min meeting now and then, ok”

That was followed by “He just sent an email re script for Ari” to which Khan said “Seems off. Lemme call him.” and later “They know already. No need to send.”

Later that night, Levesque intimated to Khan that McMahon and CM Punk were going to be on the same plane and questioned if that was going to be an issue:

“So he’s on the AM plane ….. I just remembered punk is scheduled to be on it as well. You think that’s an issue ?”

McMahon resigned from his post on January 26, 2024, amid sexual misconduct allegations from Janel Grant in a still ongoing civil lawsuit.