Since the middle of last month, rumors about a possible return of Vince McMahon a WWE did not cease to cease, especially after the Wall Street Journal reveal the intentions of the former CEO of the company. Once the internal investigation against him for alleged inappropriate sexual conduct and diversion of money (bribes) was completed, McMahon would have told people close to his desire to return to WWE.
In this sense, McMahon believes that the scandal will end up losing importance over time and that the decision to leave his post would have been the result of bad advice received from those around him. Meanwhile, the Wall Street Journal has posted a new update on the subject, noting that Vince McMahon would be looking for a way to return to the company to sell it.
“Mr. McMahon, who has a majority of the voting power through his ownership of WWE Class B shares, told the company that he is choosing himself and two former co-chairs and directors, Michelle Wilson. and George Barrios, to the board, according to sources,” the outlet wrote. “The movement to reinstate Mr. McMahonwhich the board previously rejected, and to the others will require three current directors to vacate their positions“.
The Wall Street Journal adds that McMahon sent a letter to the board in December about his desire to return to “help spearhead a strategic review process”. According to the report, McMahon believes there is little time to get the sale process underway because they are about to enter into negotiations for the next television rights deal.
“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 negotiating our media rights and combining this with a review of strategic alternatives,” McMahon said in his letter. “My return will allow WWE, as well as any counterparty to the transaction, to undertake these processes knowing that they will have the support of the majority shareholder.”
Regarding George Barrios and Michelle Wilson, McMahon noted the following: “Ms. Wilson and Mr. Barrios are highly qualified counselors whose professional experience places them in a good position to help the company achieve the best possible results in both initiatives.
As former Co-Chairmen and members of the WWE Board of Directors, are intimately familiar with the dynamics of the industry and the operations of the organizationand have helped guide the Company through past successful media rights negotiations.
I look forward to working closely with Michelle and George, as well as the rest of the company’s leadership and management team, who have my full support and confidence. WWE has an exceptional management team, and I do not intend that my return will have any impact on your roles, duties or responsibilities.”
However, as previously reported, McMahon’s return would not be welcomed by most WWE workers. In this sense, the Wall Street Journal wrote: “The council responded last month in a letter to Mr. McMahon that it was prepared to start a review process and would welcome working with him on it. However, it said that unanimously agreed that Mr. McMahon’s return to the company would not be in the best interest of shareholdersaccording to people familiar with the letters.”
It should be remembered that the departure of Vince McMahon caused a series of transformations in the organization chart of the company, with Nick Khan Y Stephanie McMahon being appointed co-general directors of the company. For his part, Triple H He was put in charge of the creative part, this being the one that has undergone the most changes since then.
It will be necessary to see if McMahon finally manages to recover his role as executive president of WWE and if, indeed, he actively participates in the sale of the company during the next negotiations for television rights.
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