After a flourish of news yesterday that was focused on Vince McMahon’s intent on returning to the WWE and allegedly willing to block any media rights sales that would cripple the company if he wasn’t allowed to return, he found another way.
It’s been confirmed that his comeback is well underway as on January 5, he used his powers as the majority shareholder to elect himself and former co-presidents Michelle Wilson and George Barrios to the board of directors.
They had to remove three members to make room, and according to the United States Securities and Exchange Commission:
“On January 5, 2023, the Reporting Person acted by written consent (the “Written Consent”) to remove JoEllen Lyons Dillon, Jeffrey R. Speed and Alan M. Wexler without cause as directors of the Issuer and to fill such vacancies by electing the Reporting Person, George Barrios and Michelle Wilson as directors of the Issuer.”
He reportedly attempted to return in December, but the board blocked him.
Looking to sell?
McMahon’s reasoning is he feels he’s the one to oversee media rights sales as companies want to own the content they’re streaming, and this has led to widespread speculation that he’s looking to sell the company.
It feels like this is straight out of his storyline when he brought the nWo in to destroy the WWE. In this case, it feels like since the company is flourishing without him he’d rather see it sold.
This is pure speculation, but it fits with how he’s brokered lucrative financial deals on what many believe was a subpar product. Only Vince McMahon knows for sure.
Employees looking to leave
It’s been widely reported that morale in the WWE has improved dramatically since McMahon retired and that virtually no one wanted him to return, but now that he’s back on the board its only a matter of time until he could work his way back to being CEO.
Mike Johnson of PWInsider reported on several people wanting to leave the company if McMahon returns and other topics and questions that have come up on social media by fans.
“It pretty much shocked everyone we have spoken with. I would say that except for the most inner circle, this absolutely took them by surprise . A lot of people are wondering what the next step is as there were no answers forthcoming from the company to their employees at the time I am writing this Q&A. The company morale has gone up exponentially since Vince “retired” so a lot of people are wondering what things will look like in the days ahead. Lots of trepidation for sure. We’ve heard from some who have said if he’s back, they want out, but whether that actually happens remains to be seen.
“There have been a lot of people in the company living in denial that this could happen, even though all of the forward looking statements the company has released over the last half-year have noted “through his beneficial ownership of a substantial majority of our Class B common stock, our controlling stockholder, Vincent K. McMahon could exercise ultimate control over our affairs, and his interests may conflict with the holders of our Class A common stock.”
What are your thoughts on McMahon returning? Will he sell, and if he doesn’t what does the future of the WWE look like? Let us know in the comments below.
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