Vince McMahon is finally willing to let go of the WWE. However, the sale will not come cheap. The WWE Executive Chairman wants a whopping $9 billion in exchange for the massive empire he has built over his lifetime. McMahon returned to the helm of the WWE last month with the sole intention of facilitating the sale. He stepped down from all of his positions within the WWE after being at the center of the Hush Money Scandal. However, he returned to power after using his position as the controlling shareholder.
Also read: Late Jerry Jarrett Was Once Considered to Replace Vince McMahon as Head of WWE
Rumors have since circulated that the WWE patriarch may take back the reins of the creative. However, both Triple H and WWE CEO Nick Khan have clarified that Vince McMahon is solely here to ensure the sale. The latter even added that Vince would not mind not being part of the company once the sale goes through.
Vince McMahon is reportedly looking for $9 billion from WWE sale
According to a report from Bloomberg, Vince McMahon wants to sell the WWE for $9 billion. The shares of the company have increased by 30 percent since speculation of the sale broke. The report read:
“Shares of WWE rose as much as 4.9% to $91.48 Friday in New York. As of the close of Thursday, the asking price was 37% greater than the company’s $6.5 billion market value. The stock has risen 30% this year, in part due to takeover speculation.”
The report also adds that the WWE have already received offers. However, no names were mentioned as of now because the discussions are private and the WWE have declined to comment on the matter.
The report also mentions Saudi Arabia making major investments in media and entertainment. They have already expressed an “interest in buying Liberty Media Corp.’s (BATR.B) Formula One.”
There were rumors that Saudi Arabia had purchased the WWE. However, the reports have since been proven wrong.
How much will Vince McMahon make from WWE’s sale?
According to a report from Dave Meltzer in the Wrestling Observer Newsletter, if the WWE gets sold for $8 billion, Vince McMahon will pocket over 25% of it with 2.5083 billion US$. His daughter, Stephanie McMahon, who stepped down from her position as Chairwoman and Co-CEO upon his return, will make $170.8m.
This is more than 20 times what her Husband Triple H will make. The WWE’s Head of Creative will stand to make $8.3m from the sale.
The other names on the list are Linda McMahon: $50.3m, Kevin Dunn: $24.2m, Nick Khan: $13.8m and Frank Riddick: $10.9m.
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