Is Vince McMahon the real owner of WWE?
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Vince McMahon returns to WWE (Image Credits: USA Network)
And there he comes back once again. Yes you heard it right. Vince McMahon has officially returned to WWE. Even after announcing his full-fledged retirement back in July, the boss has withdrawn his decision to stay retired. The unprecedented turn of events has left many fans confused about McMahon’s ownership in WWE. Some of them are bewildered on the fact that how come he finds his way back after such heinous allegations leveled up against him.
Well, things always don’t work the way they seem like. For the unversed, Vince McMahon is still the majority shareholder of the Stamford-based promotion. According to a report, the 77-year old holds liable for around $28.7 million shares in the company, which comes out 37.6% of the total consideration. Going into further specifications, these shares are divided into two classes viz. Class A and Class B.
An exclusive Security and Exchange commission report has the numbers for Vince McMahon’s share division. As per them, Vinnie Mac has around 69,157 shares of Class A common stock. Whereas, the number rises up to 28,682,948 for Class B common stock. As seen, McMahon has a staggering hold of shares in Class B. These stats amount to about 92% of the total shares.
Furthermore, despite of the previous hush money charges, The Genetic Jackhammer still holds 83% voting power of all board members in the company. This should pretty much clear up the air regarding Vince McMahon’s return. Amidst of the television rights deal renewal period coming up, Mr. McMahon thinks pretty highly of himself in the matter. He believes that the window is narrow and he’d guide the company in gaining the most profitable deal possible.
Related : Vince McMahon to stop all media rights of WWE until the management satisfies his demands
Vince McMahon is already seeking ultimate control of WWE
As indicated by various sources, people in WWE are shocked over how McMahon stitched his comeback. Some talents are even offended to a level that might “want out” if Mr. McMahon gains supreme control once again. PWInsider notes how these past 24 hours have been insane to everyone they spoke with at WWE.
Amidst of the ongoing turmoil, the company will hold an “all hands on deck” meeting with their employees today at 3:30pm EST. As being said internally, the former Boss is once again seeking to exercise ultimate powers in the company. As already made clear by himself, McMahon won’t approve any media deal, until he’s once again an executive. Stephanie McMahon, Nick Khan and Triple H has already issued an official statement in regards to his return.
And those demands have been fulfilled. He’s indeed back on WWE’s board of directors, alongside a couple of people with him. A total of five employees has already been released from their designated position since McMahon got reinstated. The complete landscape of pro-wrestling industry is about to get altered, real soon.
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Vibhor Pal
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