Vince McMahon has returned to the board of directors at World Wrestling Entertainment to reportedly facilitate a new media deal or a potential sale of WWE.
McMahon was seemingly forced into retirement on July 22, 2022, the day that “WWE Smackdown” was in Boston. He sent out the following tweet announcing his retirement.
At 77, time for me to retire.
— Vince McMahon (@VinceMcMahon) July 22, 2022
Thank you, WWE Universe.
Then. Now. Forever. Together. #WWE #thankful
MY Take
LAS VEGAS – AUGUST 24: World Wrestling Entertainment Inc. Chairman Vince McMahon is introduced during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images)
What’s fascinating to me is how this is a now a public negotiation between Vince McMahon, who is the controlling shareholder, and Stephanie McMahon, Nick Khan and Paul Levesque, also known as Triple H. I think it has to be, because WWE is a publicly traded company. But the public words are, Vince is coming back to help either sell the WWE or to help with their next TV/media rights deal. So if it’s just that, then perfect, it works.
BUT, few people believe that Vince is just coming back to help with the business side, to either sell WWE or set a record in its next media rights deal.
I’m not even close to being a business person and thinking that I understand how stocks and shares work. But a big part of this story is how both Vince and WWE have to work with legal teams, because every letter will be made public, either by choice or by leak. All these letters to each other are becoming public, so here’s one example of what is strong legal language.
This is from the WWE board to Vince in December:
“We are glad to hear that you agree that our management team is exceptional and has your support. Although we welcome your participation in the launch of a strategic alternatives review process it is also our unanimous view, unanimous view, that your return to the company at this time, while government investigations into your conduct by the US attorney’s office and SEC are still pending, would not be in the best interest of the company. A variety of factors, including non-public information that the board has become aware of are risks to the company, and its shareholders by placing a greater spotlight on to these issues.”
NEW YORK, NY – APRIL 04: Stephanie McMahon, Triple H, The Rock, and Vince McMahon attend the WrestleMania 29 Press Conference at Radio City Music Hall on April 4, 2013 in New York City. (Photo by Taylor Hill/Getty Images)
The WWE board of Stephanie McMahon, Nick Khan and Paul Levesque said initially that they would be open to Vince working with the board to help facilitate different media rights or a potential sale. They remain open to him working with them.
However, they oppose him joining the board unanimously because of non-public information that they feel would reflect poorly, and Vince is still being investigated. WWE has created a boogeyman, or they’re bluffing to keep Vince away from WWE.
As a wrestling fan and someone who is blessed to have connections in the wrestling world, the WWE, the last few months have run much smoother since Vince retired from day to day operations. I feel like Vince writing in his e-mails and press releases that he doesn’t intend to interfere with the current creative process, is just legal lip service in these public negations to get his full power in WWE back.
I think there are so many stories out there about Vince and talent and businesspeople that if TMZ ever got a hold of them, the company would be under investigation forever. And BTW, a lot of big companies have some of the issues that WWE has. It’s worth noting, and I admit this is further into the story than it should be, but Vince McMahon has issued emails and a press release, and at no time denied the allegations made against him in multiple Wall Street Journal stories, offered remorse for his past behavior, or shown any empathy.
LAS VEGAS, NV – JANUARY 08: WWE Chairman and CEO Vince McMahon speaks at a news conference announcing the WWE Network at the 2014 International CES at the Encore Theater at Wynn Las Vegas on January 8, 2014 in Las Vegas, Nevada. (Photo by Ethan Miller/Getty Images)
