As noted, this week's WWE NXT episode opened with NXT General Manager William Regal and NXT Champion Keith Lee announcing that Lee is relinquishing the NXT North American Title. Lee's reason is that he doesn't want to hold anyone back, and wants to give them the same opportunities he had while he continues to defend the main title. Video from the segment can be seen above.

Regal also announced that a Ladder Match will take place at "Takeover: XXX" during SummerSlam weekend to determine the new NXT North American Champion. The participants are being decided by a series of Triple Threat qualifying matches.

You can see the official logo for "Takeover: Thirty" below. The event will take place on Saturday, August 22 from the NXT Arena on the campus of Full Sail University in Winter Park, Florida. WWE noted in their announcement that the 30th Takeover event will be a monumental night.

Below is WWE's full announcement on "Takeover: XXX" sent to us tonight, along with the logo:

NXT TakeOver XXX to take place Saturday, Aug. 22

NXT TakeOver has become one of the most exciting events in sports-entertainment, and the next one is coming your way soon.

NXT TakeOver XXX will take place Saturday, Aug. 22, and stream on the award-winning WWE Network.

The 30th installment of the black-and-gold brand's banner event promises to be a monumental night. Already confirmed is a Ladder Match to decide the new NXT North American Champion, as announced by NXT General Manager William Regal and Keith Lee, who relinquished the title to create more opportunities for deserving Superstars.

Be sure to stay tuned to WWE's digital platforms and NXT on USA Network each week for more details and matches as they're announced!

Stay tuned for updates on Takeover.