A Wall Street Journal report emerged that stated Vince McMahon regretted his decision to retire and was planning to return to the company. It was later reported that the former Chairman was planning to return and negotiate the sale of the company.
In the wake of these rumors, Vince McMahon sent out a press release. In the notice, Mr. McMahon mentioned that he wishes to capitalize on a unique opportunity that will “maximize long-term value for all WWE shareholders.”
He also mentions that he wishes to appoint himself, Michelle Wilson and George Barrios to the board of directors while also removing three current members of the board.
According to the press release, if appointed, his new role will enable him to make decisions concerning the company’s upcoming media rights negotiations as well as a full review of the company’s strategic alternatives.
The press release indicates that many companies are “seeking to own the intellectual property on their platforms.” Mr. McMahon also states that the only way for WWE to go forward with the media rights deal and the sale of the company is by reinstating him as Executive Chairman.
Vince McMahon sent two letters to the board of directors in december expressing the urgency for him to return as Executive Chairman in order to help maximize value for all shareholders.
It looks like Vince McMahon has made his intentions clear that he wants to return as Chairman of the company. We will have to wait and see if WWE decides to give in to his demands.
Do you think Vince McMahon will return to the company? Let us know in the comments section.
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