Vince McMahon to stop all media rights of WWE until the management satisfies his demands

Vince McMahon has demanded the position of the Executive Chairman from the existing Board of Directors and has kept the company in hostage if his demands are not met.

Vince McMahon to stop all media rights of WWE until the management satisfies his demands

Vince McMahon

The former CEO of WWE Vince McMahon has held the WWE management hostage. Despite not holding any official place in the company’s management, McMahon is the biggest shareholder of the company and takes the maximum part out of it. The news of his return has been surfacing for a long time but now McMahon has shown his eagerness to work for the company once again. 

Vince McMahon released a press release recently where he told WWE’s Board of Directors that unless he directly indulges in the affairs of the company as the Executive Chairman, he would neither approve nor support any media rights sale or deal of the company. The statements have left the WWE authorities in a massive dilemma. 

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WWE has gained worldwide popularity and multiple industries have tied their hands with them. The live events have established a unique place for themselves in various countries. If the dealings stop, the company will have to undergo massive losses. Vince McMahon might have been out of the current WWE workings but his shareholding in the company didn’t allow others to work without his consent.

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If Vince McMahon returns to the company as Executive Chairman, it would give him absolute power over the company’s decisions. The world has seen enough of his decisions and the Board would not want history to repeat itself, especially at that point when the audience is pleased with the company’s work.

Related – Wrestler turned adult star demanded a humongous sum from Vince McMahon before leaving WWE

Vince McMahon has plans to sell WWE after his return

Vince McMahon
Vince McMahon

Vince McMahon’s latest press release has taken the WWE Universe by storm. When Vince McMahon expressed his desire to get back to the company’s role of Executive Chairman, he also a plan to sell the company. According to the Wall Street Journal, “The move to reinstate Mr. McMahon, which the board previously rebuffed, and the others will require three current directors to vacate their positions.”

Vince claimed that his plans will be for the benefit of all the shareholders of the company in the long term. The shares of WWE went through a massive increase since the news of its sale flashed before the WWE Universe. Brandon Thurston of Wrestlenomics reported that no sooner did Vince’s selling news broke than the WWE stocks rose by 12%

The Board’s decision is still unknown but they would not prefer to lose the company at any cost. The entire WWE Universe is waiting with bated breath for any update on the matter. With such things coming out of McMahon’s end, the WWE Universe has another big reason to not want him working for WWE in any capacity. 

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