Subhojeet Mukherjee on December 16, 2022
Vince McMahon was forced into retirement when a hush money scandal was made public, and it completely changed the way the pro wrestling world looked at him. It has been five months since then and McMahon managed to get involved in yet another scandal. The Wall Street Journal also reported that Vince McMahon is planning a comeback, which is not something fans want. In fact, McMahon could end up blocking WWE from potentially getting sold while he wants to return.
The former WWE Chairman ended up getting hit with yet another sexual assault lawsuit from two women recently. That was just the beginning, as Vince McMahon also wants to make his return to WWE after so many months.
According to Wrestling Observer Newsletter, Dave Meltzer noted that while Vince McMahon wants to return to WWE, the company cannot be sold in any way. He further explained McMahon’s role as the company’s largest shareholder.
“The first is that as long as McMahon is looking at returning, the company can’t be sold. If the company is sold, he would have no power to return.
His power is because he is both the largest shareholder in the company, and more importantly, the way his shares are determined as far as voting goes that he put together when the company went public to make sure he could never be voted out of power.
McMahon owned 37.6 per cent of WWE as of this past summer, but because his stock is determined differently than other stock, he controls 80 per cent of the voting power.”
WWE talent are also much happier without Vince McMahon around. Even Vince McMahon’s business allies don’t want him to come back. We will have to wait and see if McMahon does return to the company. We will keep you updated on this ongoing story, so keep checking back at Ringside News!
What’s your take on this Vince McMahon story? Sound off in the comments!
December 16, 2022 7:30 am
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