Vince McMahon resigned from his position as Chairman and CEO of WWE amidst a scandal that threatened to shake the promotion last year. Accused of s*xual misconduct by several women, the WWE patriarch finally let go of the reigns and allowed the company to be taken over by his daughter and son in law. Stephanie McMahon alongside Nick Khan stepped up as the Co-CEO’s while Triple H settled in as the Creative Head. However, it appears that Vince McMahon is plotting his return to power.
Also read: Former WWE Superstar Reveals Vince McMahon’s Reaction After He Publicly Came Out
Vince McMahon has long been associated with WWE. However, it can be argued that his final years were stale and put off several viewers. The change in creative direction has brought with itself a freshness that fans have long desired. Much to their horror however, things may soon change if Vince has his way.
Vince McMahon announces intention to return to WWE and initiate sales process
According to The Wall Street Journal, Vince McMahon intends to return atop the WWE in a bid to help the promotion take advantage of a window wherein they can maximize returns from selling the intellectual property of WWE RAW and SmackDown.
“WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms,” McMahon said in a statement.
“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.”
Will Vince McMahon return to WWE?
It is no surprise that Vince McMahon wants the reigns back. However, to do so he will need the support of WWE’s board, which he does not have. The former CEO was told by the board unanimously that his return would not be in the best interests of the shareholders.
He was also asked to reconfirm his obligation to pay back the expenses spent on the investigations of the allegations levied against him. Vince McMahon was also asked to agree not to return to the promotion. While he agreed to the former, he refused to give his consent for the latter.
With the rights of RAW and SmackDown set to expire in 2024, Vince McMahon believes this to be the best opportunity to engineer a comeback in order to sell the company. It remains to be seen if he succeeds in his venture and what this means for the promotion going forward.
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