Vince McMahon Plans To Return To WWE In Attempt To Sell Company

Vince McMahon is looking to put WWE on the market, according to the Wall Street Journal. McMahon is scheduled to become an executive chairman of the board after giving himself and two previous associates a promotion. Now, he, Michelle Wilson, and George Barrios are on WWE’s board of directors. McMahon’s position in WWE is significantly important because of his stock holdings. 

This decision, however, is very questionable because of a scandal McMahon was involved in last year. He allegedly paid up to $12 million to prevent women from speaking up against his sexual misconduct and infidelity. After the news came out, he stepped back from his role as a chief executive officer while the board continued its investigation.

The board was on the fence about bringing McMahon back. But after three other board members stepped down to facilitate the moves. McMahon believes this initiative is “the only way” for WWE to capitalize on negotiations over media rights.

He said 

“WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms.”

“The only way for WWE to fully capitalize on this opportunity is for me to return as executive chairman and support the management team in negotiating our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder.”