Vince McMahon never fails to surprise the WWE Universe. Last year, McMahon unceremoniously stepped down from his role after his “hush money” scandal made the news. However, he came out of retirement and kicked off the new year with a shocker of a return. The 77-year-old used his controlling shareholder power to elect himself back on the board. A new report states that Vince McMahon is now officially an employee of WWE for two more years.
It’s worth noting that McMahon’s primary intention behind his return was to pursue a sale of his company. It was earlier reported that McMahon was putting up WWE for sale for a whopping price of $9B. Despite the high asking price, WWE has many interested candidates looking to buy the company.
Vince McMahon is officially a WWE employee again for two more years
According to a new SEC filing, Vince McMahon will continue to serve as the Executive Chairman of the Board for two more years. Vince has now signed a deal that is retroactive to his return date, January 9, 2023 and is effective as of March 29, 2023.
Wrestlenomics reported that McMahon could still be forced out of his position if WWE came under the control of new owners. The report also noted that McMahon won a stock award with a market value of $4.7 million.
Vince McMahon was recently seen backstage on an edition of Raw on March 6th. The Boss is reportedly going to be attending the upcoming mega event, WrestleMania 39.
Although WWE management claims that Vince has no say in making Creative decisions, WWE talents think otherwise. Only time will tell if Vince McMahon uses his power to elect himself back into the Creative team officially.
Nick Khan says Vince McMahon is still waiting for the right deal
Speaking on CNBC’s Squawk on the Street, Nick Khan discussed Vince McMahon’s plans for the future. According to him, Vince is “open to a transaction”.
Khan claimed that Vince would be willing to relinquish his position and step down if he finds the right deal. Khan also noted that Vince is looking to get WWE’s shareholders the best value for their shares, while also citing that Vince is the largest shareholder.
