WWE up for Sale - Vince returns / Steph resigns
 

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Vince McMahon is reportedly planning a return to WWE following his retirement amid a sexual-harassment scandal to pursue a sale of the business <a href="https://t.co/dnGP7sNuQY">https://t.co/dnGP7sNuQY</a></p>&mdash; philip lewis (@Phil_Lewis_) <a href="https://twitter.com/Phil_Lewis_/status/1611109798124343302?ref_src=twsrc%5Etfw">January 5, 2023</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

I can't read the article, hopefully the news sites offer more details soon

Called it

He ain't coming back to just sell the company unless there's a buyer lined up.

The question is who'd want to buy it?

Wow

That's ruthless aggression for ya

https://i.postimg.cc/xdNMjc54/myqW9a9x.jpg

Hahahahahaha yesssssssss

He is also demanding the return of Michelle Wilson and George Barrios to leadership

...which I think would basically require Steph and Nick Khan to be fired?

Full scorched earth

Vince has issued a press release

https://www.prnewswire.com/news-rele...301715016.html

Oh man, he has just been sitting home plotting this. Lol

He really hates his family, like fuck my kids and grandkids and their legacy.

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How hard is Tiny begging Shad to sell the Jaguars right now so he can buy WWE? :rofl:

Remember how nobody could understand when Vince fired Michelle Wilson and George Barrios for no good reason, and it tanked the stock? Now these 2 are gonna be his trusted allies? They are gonna swerve him first chance they get!

if they sold the company theyd have more liquid capital than they otherwise ever would

Vince would, Steph and Hunter don't have a lot of stock. Shane I don't think has any lol

Yessss my unlikely 2023 pick is looking gooood!!!!

I may be misunderstanding it but this from the front page seems key...

"It was also reported that McMahon informed WWE’s Board that unless he has “direct involvement” as Executive Chairman from the outset of a strategic review, he would not support nor apprive “any media rights deal or sale.”"

Does this mean media rights/sales wont renew unless hes in charge? I.E. he kinda has them by the balls if they want to grow/take on more revenue from media sales?

I found the part about 3 current board member would have to "vacate their position" means voluntarily.

But I agree with you Sting, it sure sounds like Vince will reject any new TV deals unless he is in charge again. The problem with that is he would be intentionally hurting the business, and the stockholders would have his ass dead to rights, which I imagine would be better long term anyways. Even as a private citizen, what he is alluding to would have legal recourse to at the very least relieve Vince of his controlling shares due to malfeasance.

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The greatest event that can come out of this is Swede Savard and Miniak purchasing the WWE and Wrestlemania being held in their backyard. That would single handedly be the greatest moment in the history of our sport.

I could very well see that happening!

Yeah it seems like he's basically threatening to breach his fiduciary duty to shareholders. Pretty stupid to basically tell everyone in advance that those are his intentions.

WWE has had 'no comment' since Vince released a PR statement independently

His claim is the only way to get the optimal deal is with him negotiating. That makes his entire premise for return in accordance with the shareholders. That said if he isnt the CEO he doesnt have a fiduciary responsibility because *he's not an employee he's a shareholder.*

I assume the majority of his wealth is tied up in WWE and he could not fund the purchase of all non Mc Mahon owned shares... however a partnership with someone else bringing cash could put him in a position for a takeover?

"Bah Gawd, its Ted Turner with the steel cheque book!!!!" The real two man power trip.

First part of that is serious, second is not.

I guess also on a serious note as a share holder does he have a fudiciary duty to shareholders?

My understanding from the article is hes making that threat as a shareholder where his only duty is to himself. Were the board to cave and reinstate a role for him he would again need to have WWE best interests at heart and hes essentially saying he then would fulfill that role.

- Edit - That Dastardly Destor beat me by a minute!

Yeah they're legally obligated to operate in his financial interests not the otherway around (even though he can absolutely argue he is acting in the companies interests)

It is interesting he makes the case he would be the best person to negotiate the future sale/media rights when the current CEO was selected for the position primarily due to negotiating the largest media rights deal in WWE history.

We can definitely debate the merits of his position. The truth is he wants his baby back and if he cant have it no one can.

You gotta wonder if the company anticipated or expected this move since Vince stepping away was mostly a window dressing/PR move to deal with his negative press

It was clear at the time that he retained these powers so nobody in the company should be surprised

I guess we’ll see if there’s any litigation over this. I doubt it.

True, I should say IF he gets his wish to be involved officially with WWE then he would be obligated to act in the best interest, but comments like holding the company hostage would not suggest he is capable of that.

He really just hates his family, that I stand by 100%.

Y'all wanna start pooling our money together to make an offer?

I've got like $35 I can pitch in right now.

I am most surprised that he is bringing 2 people he fired back with him to undermine Nick Khan, the guy he hired that has by all accounts been a major success.

What if Vince teamed up with Shad and got Shad to cut Tony out of everything :rofl:

Maybe The Rock will buy it.

Burn, baby, burn.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Vince McMahon is back on WWE’s board of directors. <br><br>A new filing says effective immediately Vince puts himself, Michelle Wilson, and George Barrios on the board and removes independent directors Alan Wexler, JoEllen Lyons Dillon, and Jeffrey Speed.<a href="https://t.co/HGzFZNvaXM">https://t.co/HGzFZNvaXM</a> <a href="https://t.co/Y3HIRGearx">pic.twitter.com/Y3HIRGearx</a></p>&mdash; Brandon Thurston (@BrandonThurston) <a href="https://twitter.com/BrandonThurston/status/1611346373407916033?ref_src=twsrc%5Etfw">January 6, 2023</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Just read that 2 other board members resigned, including the guy heading the internal Vince investigation.

Maybe they were bored members…

I’ll tell you who doesn’t have a bored member though - Vince.
He’s probably only keeping Steph on board so he gets one last crack at that incest angle, he’s had everybody else.

Probably for the best. As soon as Vince walked back through those doors his butthole was toast.

Billionaires tend to know what they are doing. He was probably still involved with the company from a distance.