Vince McMahon decided to make his way back to WWE. A new filing showed that McMahon is returning to the WWE board of directors. Reports emerged that the WWE Board Of Directors also tried to stop Vince McMahon from returning. Former WWE co-presidents Michelle Wilson and George Barrios are also on the board. McMahon had stated that his intention was to facilitate a sale of the company.
There has been much speculation that Vince McMahon was looking to sell to a party that would commit to keeping him in charge of the company. It was further noted on Tuesday that Stephanie McMahon was resigning as Co-CEO of WWE and that Vince McMahon was unanimously voted in as Executive Chairman. Speculation was everywhere and it didn’t take more than a couple of hours before it was revealed that among the potential buyers interested in purchasing WWE was a group out of Saudi Arabia.
Vince McMahon seemingly left out Shane McMahon
Wrestlenomics analyzed Vince McMahon’s latest amendment to the company’s bylaws. This allows McMahon to make any company decision, and he doesn’t need shareholders’ permission. It seems that Vince McMahon also left out his family members when it came to inheriting WWE shares. That being said, there is always the possibility that the issue is taken care of elsewhere.
Removing the requirement that shareholders (i.e., Vince) approve of any TV deal or company transaction may also prevent anyone who in the near future might inherit his shares from also inheriting that approval power. Vince’s nearest family members, Linda, Stephanie, or Shane, would retain his enhanced voting rights due to being McMahon family members if they came into possession of his shares. However, we don’t know whether any will or succession plan is in place regarding Vince’s shares should he pass away or become incapacitated.
It should be emphasized, so the preceding paragraph isn’t misconstrued, the filings do not mention other McMahon family members or explore the possibility of others inheriting Vince’s shares. This is merely Wrestlenomics’ analysis of the situation, and it’s possible such a consideration actually played no part in motivating the actions recorded in this morning’s filings.
It has been also noted that Vince McMahon will not require any approval from WWE’s shareholders to take any actions from now on.