Will Vince McMahon sell the WWE?
Former WWE Chairman Vince McMahon is plotting a return to the company and the latest reports have also disclosed his vision for the WWE product.
Mr. McMahon retired from WWE on July 22, 2022, after multiple lawsuits were filed against him on the grounds of misconduct and infidelity. His daughter, Stephanie, took over as Chairwoman and shared the Co-CEO position with Nick Khan. Stephanie’s husband Paul Levesque (Triple H) took charge of the creative as WWE's Chief Content Officer.
In an article by The Wall Street Journal published on December 2022 noted that the 77-year-old was facing new demands for financial compensation from his alleged victims. Former WWE referee Rita Chatterton demanded $11.75 million while an undisclosed amount was set for a former spa manager who McMahon allegedly assaulted in California.
The report also claimed that Vince McMahon wanted to make an audacious return to WWE and pursue the sale of the business. The WSJ clarified the former CEO’s intentions of selling the sports entertainment giant.
Vince holds the majority of power in WWE due to the ownership of the Class-B stock. He plans to return to the board by electing himself and two former co-presidents and directors, Michelle Wilson and George Barrios and gunning for the position of executive chairman.
In the wake of these rumors, Vince McMahon sent out a press release where he disclosed his desire to capitalize on a unique opportunity that will maximize long-term value for all shareholders. WWE stock prices rose significantly on Thursday as a result.
Triple H and Stephanie McMahon have done a fine job in expanding the WWE product. Besides the creative manoveurs and numerous talent returns, they have promoted the product extensively in their best-selling markets. Thus, the locker room is rightly panicking at the news of Vince McMahon returning to Titanland.
Why is Vince McMahon planning to return to WWE?
#WWE really doing long term story lines. #VinceMcmahon #HHH https://t.co/NgxETkAujW
It would be a bold move on Vince’s part to finish what he started. He took over the world’s largest wrestling company in 1982, and he probably misses the thrill of working in it, according to Dave Meltzer.
“When you think back at Vince the person, it's not a surprise. I think that he probably misses doing this. It was his life… From a business standpoint, the fans are gonna be fans no matter what. But from a perception situation to the public at large, to sponsors and stuff like that, it would have a negative taint to the company."
The current television deals for RAW and Smackdown expire in October 2024. Will Vince McMahon make his move at the end of next year? Time will tell.