World rings Entertainment announced it is relocating to 677 Washington Boulevard in Stamford in 2021. (Google Maps)

STAMFORD, CT — world Wrestling Entertainment, i beg your pardon has called Stamford house for decades, announced Wednesday that it will move its worldwide headquarters native 1241 east Main St. Come 677 Washington Blvd. In downtown Stamford in at an early stage 2021.

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The move into the previous UBS structure will enable the entertainment large to consolidate its corporate offices, operations and also production studios into one location.

"One the the many important facets necessary to execute WWE"s long-term expansion strategy is world-class talent collaborating seamlessly to develop compelling content," said WWE Co-President George Barrios in a statement. "Our rectal initiative will certainly be the foundation to accomplish these objectives and also underpins our capacity to deliver long-term value."

The agency plans to offer the 1241 east Main St. Site, relocate out that leased room at 1266 east Main St., and also consider choices for its current production studio framework in Stamford at 88 and also 120 Hamilton Ave.

Click below for more information ~ above the move and the reasons behind it.

From the WWE announcement:

The new headquarters will administer the firm with work room suited come its growing and evolving workforce. The site in Stamford"s central business district provides greater accessibility from various means of transportation, floor plan which room well-suited come producing video content and greater versatility in rectal design. The company anticipates the it will relocate to the brand-new headquarters in beforehand 2021.

WWE will certainly lease the room for an initial hatchet of roughly 16.5 year commencing no earlier than July 1, 2019, with 5 five-year renewal options thereafter. The lease will be accounting for as a finance lease, v the production of a lease responsibility (equal come the present value the future lease payments, i m sorry would an outcome in the acknowledgment of interest price over time) and a right-of-use lease asset (equal come the lease obligation less tenant incentives, which is depreciated top top a straightline basis with depreciation expense). Accordingly, the audit for the lease commitment is not supposed to have a material influence on readjusted OIBDA. Depreciation expense linked with the right-of-use asset will certainly be reflected in operating income. The Company"s funding expenditure guidance shows this initiative. The guidance estimated resources expenditures of about $70 million to $90 million because that 2019 with continued spending in 2020 above the historic selection of about 4% come 7% of revenue. Additionally, the agency expects to market its owned and operated corporate facility at 1241 eastern Main Street, leave its leased spaces at 1266 eastern Main Street, and will evaluate choices for its manufacturing studio framework at 88 and 120 Hamilton Avenue based on strategic, operating and financial considerations.

Additional details is obtainable on the Company"s website, corporate.wwe.com/investors.

WWE Announces move To brand-new Stamford Location

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