Following his retirement in July amidst allegations of sexual misconduct and hush money payments, Vince McMahon shocked the world once more when he announced in early January that he would be electing himself back onto the Board of Directors in order to facilitate a sale of the company.
Days later, his daughter Stephanie McMahon, who had been appointed co-CEO of the company alongside Nick Khan in the wake of her father’s retirement, announced her resignation from WWE, leaving Nick Khan as sole CEO. Moments after Stephanie’s resignation was announced, the company released a press release revealing that Vince McMahon had been unanimously elected Chairman of the Board.
A February 17th report from Bloomberg revealed that McMahon’s asking price for the company is an astronomical $9 billion. The report also notes that the company has already received numerous offers, though WWE has declined to comment on what those offers may be. During a recent interview with CNBC, CEO Nick Khan indicated that a sale could happen within months.
Bloomberg’s report also notes that at the close of the stock market on February 16th, the market value of WWE’s stock was worth $6.5 billion, which is 37% less than the asking price of $9 billion. The company’s stock has risen 30% this year, in part due to speculation about a sale.
Kevin Nash Believes Vince McMahon Is Overvaluing WWE To Prevent A Sale
Speaking on the latest episode of Kliq This, WWE Hall of Famer Kevin Nash gave his thoughts on the potential sale of WWE, saying that he doesn’t understand how the asking price can be so high. He notes that, according to Forbes, the New York Yankees baseball franchise is valued at $6 billion, and he “can’t wrap [his] head around” a $9 billion price tag for WWE in comparison.
Nash expressed his belief that Vince McMahon is purposely trying to delay a WWE sale, comparing the situation to selling one’s own house.
“It’s almost like I have no intention of selling my house. But if someone called me up and said ‘I’ll give you $3.5 million,’ I’m selling my house. But if you give me market value for it, it’s like, ‘Nah, man.'”
According to Nash, McMahon is probably looking to get enough money out of a potential sale to make it worthwhile for him despite having no interest in actually selling the company.
h/t WrestlingInc