Vince McMahon put out a press release on Thursday shortly after The Wall Stree Journal broke the news that he is attempting to return to the company, insert himself as the Board of Directors Chairman, bring back two former executives in Michelle Wilson and George Barrios and oversee the sale of WWE and its upcoming media rights negotiations. McMahon confirmed the report, stating in the release, “WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms.
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“The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder,” he continued.
McMahon also claimed his return would have no effect on anyone else’s role in the company. Upon his departure in July 2022, Stephanie McMahon and Nick Khan were named the Co-CEOs while Paul Levesque took over the company’s booking as its Chief Content Officer.
“Ms. Wilson and Mr. Barrios are highly qualified directors whose professional experience positions them well to help the Company achieve the best possible outcomes in both initiatives. As former WWE Co-Presidents and Board members, they are intimately familiar with industry dynamics and the organization’s operations and have helped guide the Company through past successful media rights negotiations. I look forward to working closely again with Michelle and George — as well as the Company’s remaining directors and management team, who have my full support and confidence. WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities,” McMahon stated.
You can read the press release in its entirety here. WWE has yet to officially confirm McMahon’s return or respond to today’s news. Stay tuned for more details.
