Vince McMahon, the man who is responsible for this billion dollar company, due to alleged sexual misconduct scandal, he stepped down as the WWE CEO.
WSJ reported that Vince said to people close to him that he stepped down due bad advice, report also notes that Vince is intending to make return to WWE. Ever since this report Vince’s supporters are not a fan of his return, they instead worried about company.
Dave Meltzer on Wrestling Observer Newsletter reported that Vince’s one-long time supporter thinks his return could ‘cripple the company’.
“Even those who have been McMahon allies and who never expected him to leave and believed he’d survive, as he always did, are negative about the prospects of his return.
“What if (he) decided to upend the entire Board (he has 80 percent voting stock) and is still the largest owner of common stock?” noted one long-time supporter. “The class action shareholder lawsuits would cripple the entire company. The networks would balk. FOX had to get rid of Roger Ailes. I don’t think they will be favourable to his return. NBCU is a prisoner of he deal and even they spoke up about his TV appearances when he was in the headlines and still appearing on TV.
The shareholder revolt would endanger the entire organization. This was a terrible shot today to the `moving forward’ `business as usual’ claim that was implemented by Stephanie, Levesque (and) Nick Khan. Now the conspiracy theories will be all about (Vince) coming back. If he comes back, it’s a scorched Earth scenario. Unless he figure a lesser role (and how can he of all people take a lesser role?), but the leak from his side is that he was given bad advice, so now he’s blaming people.”