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.
Independent directors Alan Wexler, JoEllen Lyons Dillon, and Jeffrey Speed have been removed. John Pollock noted that two board members resigned today: “Ignace Lahoud and Man Jit Singh have resigned from the Board, effective today.” This is separate from the three board members removed. The filing shows that Vince has made changes to WWE’s bylaws so media rights deals and any company sales can’t be made without his approval. The filing also includes emails Vince has sent to the board.
Vince McMahon is eyeing for WWE sale
Meanwhile, 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.
Sean Ross Sapp believes that there’s a chance that Saudi’s “grossly overpaid” for the company based on the other businesses that were bidding for WWE. This means it’d likely be over $5 billion. “If there was a group that would have Vince retain any semblance of creative control creatively, it would be with the Saudi’s” but mentioned that their relationship isn’t perfect and speaks on the problems between Vince and the Saudi prince.
