The last two days have been a whirlwind for WWE fans, as it was revealed that Vince McMahon was attempting to return to WWE as Executive Chairman, and after some back and forth between the board and McMahon, he would end up returning in that role. In his statement, McMahon said his return would not affect the current WWE management, but that remains to be seen. WWE then held a meeting for employees regarding the situation, and Fightful Select broke down the details of that meeting, who was involved, and the general nature of the meeting itself.
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Talent was not involved in this meeting, and it was led by Stephanie McMahon, Nick Khan, and Frank Riddick. It was stressed that day-to-day activity would not be changing across the board, and McMahon being the controlling shareholder and the possibility of a sale was mentioned.
It was said that a sale could be a huge positive and that they would be looking at potential sale offers before negotiating rights fees. They said a sale might not happen, and that the company could be taken private if there is a sale. It was also said that McMahon’s return was made to look at the market to maximize rights fee deals and potential sale prices.
Vince McMahon will get the final say in any rights fees deals or sale offers, and it was noted that potential buyers could be more interested in WWE as a property than just the project fans see. It was also mentioned that Michelle Wilson and George Barrios helped sell WWE’s biggest rights fee deals, and they are now part of the board along with McMahon.
Since McMahon’s return, some other moves on the board have happened. Man Jit Singh, who led the investigation into McMahon, resigned from the board, and Jeffrey Speed and JoEllen Dillon were also removed from the board. Speed was also part of the investigation into Vince, though Dillon only came in after that investigation had begun.
As a final note, McMahon was not at SmackDown’s taping or at WWE headquarters after the announcement.
