Vince McMahon Plotting WWE Return To Orchestrate Sale Of The Company

WWE

UPDATE – Vince McMahon is officially back on the WWE Board of Directors, read more at this link.

Vince McMahon’s retirement from WWE last July was one of the biggest news stories of 2022, and possibly the history of professional wrestling.

McMahon’s retirement after an article was released from the Wall Street Journal, accusing McMahon and John Laurinaitis of paying what ended up totalling to around $20 million in ‘hush money’ payments to former female employees.

Since then, another new allegation of misconduct has been lobbied at the former chairman of the board.

A follow up report from the Wall Street Journal last month claimed that McMahon had told people close to him that he planned on making a return to the company.

The report stated that “people familiar with McMahon’s comments” said that McMahon claimed he “received bad advice from people close to him” at the time he decided to step down.

Now, in another new report from the Wall Street Journal, McMahon claims that he is hoping to make a return to the company in order to pursue a sale of WWE.

McMahon claimed that he is using his power as the majority shareholder to elect himself, George Barrios and Michelle Wilson to the board.

The move to reinstate Mr. McMahon, which the board previously rebuffed, and the others will require three current directors to vacate their positions.

The article notes that McMahon sent WWE’s current Board of Directors a letter last month “detailing his desire to return to the company he ran for four decades, to help spearhead a strategic-review process, the people said. Mr. McMahon believes there is a narrow window to kick off a sales process because WWE’s media rights—including for its flagship programs “Raw” and “SmackDown”—are about to be renegotiated, according to the people.”

The report claims that WWE asked Vince “to confirm his commitment to repay expenses incurred by WWE related to an investigation of the allegations and requested that he agree not to return to the company during government probes of the matter, the people said. Mr. McMahon said in response that he remains willing to continue working to complete any reimbursement for reasonable expenses related to the investigation, to the extent they aren’t covered by insurance, but he declined to agree to not return to the company.”

The WSJ article also claims that McMahon has told the WWE Board of Directors that, unless he has “direct involvement” as Executive Chairman “from the outset of a strategic review”, McMahon would not support or approve “any media-rights deal or sale.”

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