A legal battle between WWE and Panini has come to an end.
Back in September, WWE and Panini entered the legal battle which was said to be worth over $5 million. The pro wrestling company ended their partnership with the trading card company early over a breach of contract, despite there being multiple years left on the deal.
WWE would then seek an injunction as it was discovered that Panini was still selling licenced products despite the termination of the agreement. Panini would also file their own legal claim as they have stated that they fulfilled all obligations that were set out to them and were never alerted to any issues beforehand.
According to a court filing on November 15, Nick Khan spoke with Panini representatives in 2 separate sessions to exchange settlement proposals in the hope of reaching an agreement between both sides:
Pursuant to the Court’s Order, the parties certify that they have conferred live and in real time to discuss a potential resolution. Specifically, on October 3, 2023 Nick Khan (CEO, WWE), Mark Warsop (CEO, Panini America) and Elisabetta Mussini (Group Licensing Director, Panini S.p.A.) conferred by Zoom for approximately 30 minutes and on November 14 the same parties plus their counsel conferred by Zoom for approximately 30 minutes.
In addition, the parties exchanged settlement proposals and counterproposals on October 3, 2023, October 17, 2023, November 8, 2023, November 9, 2023, and November 13, 2023. Counsel for the parties were speaking regularly by phone throughout this period in connection with these proposals.
The 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.
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
One week later, on November 22, a new update was provided via court filings that showed that an agreement had been reached by both sides. As seen in a new court filing by Paul Lesko, both sides have agreed on terms and all cases of action have been dismissed with prejudice. This means that neither side is able to re-open the case and will have to cover their own respective legal fees.
Yesterday, and as expected, Panini and WWE finally informed the court they settled their issues against each other…and asked the court to dismiss the action WITH PREJUDICE meaning the case will be dead dead dead. pic.twitter.com/CpIv7L3KC6
— Paul Lesko (@Paul_Lesko) November 22, 2023
It is also noted in a further post that the judge reopened the case in order to close it indefinitely as the case was previously closed without prejudice. Due to the nature of the agreement, it will not be publicly known which side won due to the manner in which the case was settled. It is also believed by Lesko that the judge regarded the case as more of a business dispute than a legal matter so therefore it should be decided amongst themselves.
WWE & Panini Agreed To Collaborate In 2022
Panini was announced as the exclusive trading card and sticker partner of the WWE in 2021, with the first release of the collaboration scheduled to tie in with WrestleMania 38, meaning that the pro wrestling promotion would join other major sports and entertainment brands who have partnered with the trading card company.
Around the same time as the contract was terminated, it was announced that Fanatics would become the new producer of officially licenced WWE trading cards. Fanatics currently sells licenced merchandise, but not trading cards. The deal was set to begin in 2026 but was also expected to be brought forward following the issues with Panini. At the time of writing, Panini remains the official vendor of the trading cards.