The biggest news in professional wrestling right now is Vince McMahon selling WWE to Saudi Arabia through their Public Investment Fund. The 77-year-old engineered his return using his position as the controlling stockholder, and has since reinstated himself as the Executive Chairman of WWE. This has all come as a massive surprise to fans that were only just beginning to get used to life under Triple H. However, it appears that all of this was not a spur of a moment decision, but a plan crafted with careful precision by the WWE patriarch.
Also read: Vince McMahon Reportedly Wanted Total Control of WWE Creative Upon His Return
The world is reeling with the possibility of WWE no longer being a publicly traded company. Vince McMahon always had the power to make this decision. However, no one ever believed that this was in the realm of possibility until it reportedly happened, and it appears that Vince had all this planned right from the start.
Vince McMahon started talks with Saudi Arabia to sell WWE during his retirement
Vince McMahon announced his decision to retire last year following the hush money scandal. Many believed that they had seen the last of him. However, it has now come out that he immediately began working on the deal instead of enjoying his rest, according to Dave Meltzer.
Speaking on the Wrestling Observer Radio, he said:
“One thing that we do know is that ever since Vince was ousted, he did open up talks with the Saudis. I mean, this didn’t come in the last week. His coming back was obviously to close the deal, that, perhaps the people who are running the company, for all the reasons we were talking about, probably felt very uneasy about the deal closing because they are, perhaps, looking out for the long-term future of their company and their own asses too. So, that’s another layer. Obviously, the people on the board, Nick Khan and Triple H, who voted one way before [to keep Vince McMahon out of the Board of Directors] and they voted another way today.”
Stephanie McMahon steps down from her position as Co-CEO
Following Vince’s return to WWE, Stephanie McMahon decided to step down from her position as CO-CEO. In a statement released on her social media, she thanked the WWE Universe for the “opportunity of a lifetime.”
Vince reacted to the resignation by thanking her for offering to step up during his absence and expressed pride in the manner she led WWE.
“I’ll forever be grateful that she offered to step in during my absence and I’m truly proud of the job she did co-leading WWE,” he said in a release. “Stephanie has always been the ultimate ambassador for our company, and her decades of contributions have left an immeasurable impact on our brand.”
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