Nikunj Walia on January 14, 2023
WWE is currently in a state of change once again as Vince McMahon’s return caused a big change in management. Mr. McMahon turned everything upside down, coming out of retirement to reclaim his seat as Chairman of the company’s Board of Directors. However, it appears that his family members endorsed his decision to sell the company for their own reasons.
After taking a voluntary retirement in July 2022, Vince McMahon recently reemerged in WWE with his re-appointment onto the WWE Board of Directors. Furthermore, speculations suggest that McMahon’s return might have a significant impact on the current working environment of the company. It was made very clear in the meeting before SmackDown this week that Mr. McMahon’s return is not in a creative sense.
Vince McMahon amended the company bylaws to say that no media rights deals could be approved without the majority shareholder’s consent. Since he is the majority shareholder, he can do whatever he wants with his company, essentially holding WWE hostage.
Moreover, amidst this powershift, Stephanie McMahon announced his resignation as WWE Chairwoman and co-CEO, and Vince McMahon’s return was made official, returning to the company as Executive Chairman. Although it was reported that Triple H and Stephanie McMahon opposed the company sale, they might have a reason for changing their minds.
Vince McMahon’s prime reason to return has been to pursue the sale of WWE. Dave Meltzer on the latest edition of the Wrestling Observer Radio stated that Stephanie McMahon and Triple H are supportive of his decision, only to get rid of Vince as the majority shareholder of WWE.
“From what I am told … you know … Paul and Stephanie…they are not oppose to sale, and they knew that … at some … those Vince’s shares were an albatross and at some point, somebody had to get rid of those shares anyway or Vince would take over … they were not like saying we have to sell … it’s Vince who pretty much made that call because the timing and … maybe, again … maybe he farther along the Saudi deal which is maybe where those rumors came from … and knew the timing and everything like that … because he jumped in, you know, for the sale … it’s not like they are opposed to a sale … it’s not like they champion the sale either … they were, either way [about it].”
Vince McMahon is rumored to sell off his business to Saudi Arabia and make the company private again. With his good working relations with the Kingdom of Saudi, it seems only a matter of time before the deal is made official.
Transcription by Ringside News
Do you think Vince McMahon should sell WWE to Saudi Arabia? Sound off in the comments!
January 14, 2023 8:26 am
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