Huge Development In WWE Sale Plans After Vince McMahon Return

WWE

A big update has emerged on a potential WWE sale, following Vince McMahon’s return to the company.

After announcing his retirement in July 2022, Vince McMahon has now officially returned to the WWE board of directors.

On January 5, an article was published by the Wall Street Journal, and a statement was soon issued by Vince McMahon himself, indicating that he intended to return to WWE to pursue a sale of the company.

Alex Sherman of CNBC now reports that WWE has hired investment banking company JP Morgan to advise on a sale.

Per Sherman, a deal for a sale would likely happen before mid-2023, as this is when TV rights renewal deal negotiations will also take place.

WWE issued the following statement on changes to the board of directors on January 6:

STAMFORD, Conn., January 6, 2023 – WWE (NYSE: WWE) is providing the following update regarding the composition of its Board of Directors and the exploration of strategic alternatives.

“Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. “We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”

As Vince McMahon stated yesterday, “WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities.”

In connection with the change in the composition of the Board of Directors and in cooperation with Vince McMahon as majority shareholder, the Company intends to undertake a review of its strategic alternatives with the goal being to maximize value for all WWE shareholders. There is no assurance that this process will result in a transaction.

Vince McMahon, in his capacity as controlling shareholder of the Company, has removed JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler from the Board. Vince McMahon, George Barrios and Michelle Wilson have been added to the Board to fill the resulting vacancies.

The Board currently consists of:

Vince McMahon
Stephanie McMahon
Nick Khan
Paul Levesque
Steve Koonin
Michelle McKenna
Steve Pamon
George Barrios
Michelle Wilson

Ignace Lahoud and Man Jit Singh have resigned from the Board, effective today. 

All further news and updates on the situation and Vince McMahon can be found at this link.

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• JP Morgan
• Sale
• Vince McMahon
• wwe

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