July 21, 2024

Vince McMahon’s previous attempts to comeback was blocked by WWE Board of Directors

Vince McMahon faced allegation of misconduct and hush money in July, which result resulted in him stepping down as the Chairman. WWE ended the investigation in November, WWE also noted that “Mr. McMahon can effectively exercise control over our affairs”.

Wall Street Journal on December reported that Vince wants to return back to WWE and also noted Vince feels “people close to him” gave him “bad advice”, because of that he had to step down as Chairman.

Vince McMahon recently released press note where he expressed his interest in returning back to WWE as CEO, and helping WWE to get a good media rights deal and also looking into alternate opportunity.

“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 the negotiations for 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,”said Mr. McMahon

Dave Meltzer on Wrestling Observer Radio is reporting that Vince McMahon already had attempted to comeback to WWE, but WWE Board of Director shuts it down.

Vince McMahon attempted to come back, Board shut him down. So now he takes it to the shareholders. When he had someone leak out he’s returning, Wall Street freaks out about the protracted fight, stock goes from 80 (bolstered from rumors of sale) to 68. Now he sends out a press release, officially announcing not the exploration but the actual intent to prep for sale, stock jumps in after hours back to 80.

It ends up with a direct pitch to the shareholders at the annual meeting. Or it ends up with WWE cutting a deal with him (and potentially George and Michelle, or he’ll cast them aside without second thought). Or it ends up in a bloodbath with a fight that plays out right to the shareholders and a call for a vote. Or it ends u in court. Lot of ways this can play out.”

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