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Vince McMahon and the WWE go hand in hand.
McMahon has owned and operated the company since taking it over from his father Vincent J. McMahon in 1982. Since then, Vinnie Mac has been the top dog in the pro wrestling world.
But everywhere McMahon has gone, controversy has also followed. Whether it’s the steroid scandal that almost brought his company crashing down in the 90s, or the near-constant string of sexual harassment and assault claims that have seemed to follow him, McMahon isn’t short on controversy.
One of those harassment claims appeared to finally catch up to McMahon in 2022. This led to his abrupt retirement in July and seemed to signal the end of an era.
But not so fast! Now McMahon is back, and he’s taking control of his company in a shocking about-face.
Vince McMahon Returns To Power In WWE With Intent To Sell Company
The Wall Street Journal shocked wrestling fans everywhere on Thursday afternoon when it reported that McMahon was plotting a return to the company.
Mr. McMahon, who has majority voting power through his ownership of WWE’s Class-B stock, said Thursday he had told the company that he is electing himself and two former co-presidents and directors, Michelle Wilson and George Barrios, to the board, confirming an earlier Wall Street Journal report. The move to reinstate Mr. McMahon, which the board previously rebuffed, and the others will require three current directors to vacate their positions.
While the move appears to be an obvious power grab, it also seems McMahon doesn’t intend to stay in power very long.
Vince McMahon, the majority owner and former chief executive of World Wrestling Entertainment Inc., who retired last year amid a misconduct probe, plans to return to the company and pursue a sale of the business.
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He has communicated to the board that unless he has direct involvement as executive chairman from the outset of a strategic review, he won’t support or approve any media-rights deal or sale, the people said.
It appears that for the first time in its 70-year history that the WWE may soon be owned by an entity other than the McMahon family. But Vince McMahon also appears dead set on having a say on who that is.