WWE up for Sale - Vince returns / Steph resigns

[xrodmuc316]

Originally Posted by Sting Fan 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.

[thekrow]

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.

[Sepholio]

Originally Posted by xrodmuc316 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.

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.

[Sting Fan]

Originally Posted by Sepholio 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.

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!