WWE has a lot of legal situations going right now, but the situation with Panini escalated quickly. Now, it appears that they may be nearing a resolution soon enough.
The legal dispute between WWE and collectibles company Panini appears to be nearing resolution, following mutual allegations of breach of their licensing contract.
This lawsuit emerged subsequent to the signing of a four-year agreement in March 2022, permitting Panini to produce trading cards and stickers featuring WWE themes in exchange for royalty payments to WWE.
Panini claimed that WWE wrongly attempted to terminate the contract and demanded $5.625 million in outstanding royalty payments. In response, WWE lodged its own complaint, asserting it had validly terminated the contract due to Panini’s alleged violations of the licensing agreement. WWE further contended that Panini was infringing on WWE’s intellectual property rights by continuing to sell WWE products, as their website still featured cards for Bianca Belair, Dominik Mysterio, Roman Reigns, Cody Rhodes, and Seth Rollins.
Court documents, as obtained by Paul Lesko, revealed that a letter sent to the court indicated that the lawsuit is on the verge of being resolved. The letter stated, “discussions between the parties and their counsel have resulted in an agreement in principle. The parties are in the process of formalizing that agreement in a signed writing.”
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.”
WWE wanted to get their trading card deal with Fanatic started early, and they wanted out of their Panini obligations. The legal nightmare that followed certainly drew a lot of attention. Only time will tell if it helps or hinders the value of those trading cards in question.
We will keep a close eye on this story, and so many more, here at Ringside News. You never know what will happen next, because the pro wrestling world crosses over into so many over avenues.
What’s your take on WWE’s trading card legal situation? Let us know what you think in the comments section!
November 15, 2023 8:53 am