When we thought that everything is getting on track for WWE, a tempest named Vince McMahon left the company wrecked. Recently, part CEO and the daughter of Vince McMahon, Stephanie McMahon turned down from her post. Just after her sudden departure from the company, the rumours of sale fueled at its finest.
It’s revealed by a recent report that Stephanie McMahon and her husband, Paul Michael Levesque aka “Triple H” were not in favour of the sale. Axios stated that the former co-CEO and the company’s Chief Content Officer utterly opposed the sale. The reason for it can be the long and growing legacy of WWE with roots in the United States of America.
Why Vince McMahon retired from WWE earlier?
Wrestling promotion is the generational business of the McMahons. However, Vince had to step down as the CEO of World Wrestling Entertainment on July 22. Following his departure, he also announced his retirement from the promotion. In an ongoing investigation, Vince paid 14.6 million in hush money to several women who alleged sexual misconduct between 2006 and 2022.
After his departure, things started going well in the company. Several released talents were re-hired on an immediate basis to boost the roster. WWE also recorded a major hike in television ratings during Triple H’s regime. But almost a week ago, Vince McMahon returned to the company after a six-month hiatus following his hush money and sexual harassment scandal.
Why did Vince McMahon return to the company?
The former CEO made his return to the company last Friday, as confirmed by the company. Although he’s not the current CEO of the company, but he’s a major shareholder in the promotion.
During his return, Mr McMahon said “WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties or responsibilities.“
Afterwards, a report claimed that two more of their board members, Ignace Lahoud and Man Jit Singh, resigned effective immediately. But a piece of shocking information came as the company’s cap rose following their former CEO’s return.
Who are the possible buyers of the promotion?
According to a major report from Axios, the potential buyers of the company includes the likes of Saudi Arabia PIF, Amazon, Apple and Disney. A couple of days back, a statement revealed that WWE has been reportedly sold to the Saudi Arabia Public investment fund. But no proper assurance has been provided until now.
