The past few months were just crazy for the WWE Fans, a lot has happened due to the former CEO’s wrongdoings. As you all might be aware, WWE’s former CEO and current Chairman, Vince McMahon was charged with some serious crimes, including Rape and Sexual harassment.
Following these charges, McMahon stepped down from his position and retires but after 6 months he came back to WWE and restores his posting as Director. Just a few hours after his return, WWE issued a press release confirming the return of McMahon to the Board of Directors and even fires 3 of the board members. This creates a situation of chaos in the WWE.
Now, the current CEO, Nick Khan suggested selling the company and Vince McMahon assured him, he will do that if its best in the interest of the shareholders and the company.
“There is more interest than ever in owning content and intellectual property. With the expiration of our domestic media rights in 2024, and the upcoming negotiations for those rights, we have a unique opportunity to explore a wide range of value-enhancing alternatives both with parties that recognize the value of content and IP like ours, and with parties that value owning the content that they host on their own platforms,” Khan said.
Today, Nick Khan was asked about Vince’s involvement in selling the company and what would he do if the offer is in the interest of the shareholder, to which the CEO revealed McMahon’s intentions.
He said, “Yes. Without question. He’s declared it to the board. He’s declared it to us in management. It’s all about shareholder value. Obviously, he is a shareholder. So it’s not about what role he’ll have. It’s about maximizing that value opportunity,”
So, the company is on sale, and Vince McMahon is willing to do that. However, per the latest reports, McMahon is barred from the Board of the company, The Bloomberg Law Reports.