On January 6th Vince McMahon completed a stunning return to WWE.
McMahon left the company back in July 2022 after being engulfed by a sexual misconduct scandal. He initially attempted a comeback in December but was blocked by the Board of Directors. However, as the majority shareholder, McMahon reinstated himself onto the Board along with two associates, removing three serving members in the process.
Both McMahon and WWE were at pains to explain that his return was purely to help facilitate the sale of the company and upcoming media rights negotiations.
However, it appears that far from helping, McMahon is actually getting in the way. Writing in the Wrestling Observer Newsletter, Dave Meltzer noted that there is a belief that McMahon’s presence is a hindrance.
“At this stage of the game, the belief is that McMahon’s presence is a hindrance and not a help in these negotiations, although as the largest stockholder, he is also the key beneficiary financially if and when the sale goes down and for that reason forced his way into that process.”
When McMahon returned two Board members quit and co-CEO Stephanie McMahon also left the company. Despite this, the report adds that Stephanie still stands to benefit financially if WWE is sold. The figures below are based on the company being sold for $8 billion.
- Vince McMahon $2,552,969,558
- Stephanie McMahon $170,842,415
- Linda McMahon $50,320,030
- Kevin Dunn $24,205,410
- Nick Khan $13,837,200
- Frank Riddick $10,931,948
- Paul Levesque $8,323,822
Speaking in a recent interview Nick Khan claimed that WWE could be sold within three months.
Why Did Vince McMahon Leave WWE?
McMahon initially retired in July 2022 surrounded by allegations of sexual misconduct. It was claimed that he paid numerous women a series of “hush money payments” in order to suppress the allegations.
On January 19th, 2023 it was reported that McMahon had reached a settlement with former referee Rita Chatterton. The settlement was in relation to a 1986 incident where Chatterton alleged that she was raped by McMahon.
The news of the agreement came after it was reported in 2022 that McMahon had reached a number of legal settlements with former employees in relation to other allegations. In one instance he paid a former wrestler $7.5 million after she claimed that he had coerced her into giving him oral sex.