The retirement of Vince McMahon doesn’t seem to be lasting very long as he is reportedly plotting his way back into WWE.
McMahon announced this summer that he was resigning, and in turn retiring, after a slew of misconduct allegations. Now, McMahon is hoping that upon his return a sale of the company can occur, the Wall Street Journal reports, despite legal demands from two women who are alleging sexual misconduct.
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“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,” McMahon said in a statement. “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.”
Vince McMahon, Stephanie McMahon and Triple H attend the UFC 276 event at T-Mobile Arena on July 2, 2022 in Las Vegas, Nevada.
(Jeff Bottari/Zuffa LLC)
WWE’s live rights for “Raw” and “SmackDown” are a large source of revenue for the business, and they are set to expire in 2024. McMahon sees now as the right time to sell because of that.
The Journal reported earlier that McMahon paid millions in “hush money” to several former WWE employees for the alleged sexual misconduct.
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McMahon reportedly received a letter from former wrestling referee Rita Chatterton on Nov. 3 demanding $11.75 million in damages following a three-decade-old accusation that McMahon had raped her in a limo.
Then, another email to McMahon’s attorneys accused him of assaulting a former spa manager in 2011 at a California hotel. She alleged McMahon assaulted her while at a WWE event in town.
The Rock, Vince McMahon, John Cena and Michael Cole attend the WrestleMania 29 Press Conference at Radio City Music Hall on April 4, 2013 in New York City.
(Taylor Hill/Getty Images)
McMahon reportedly refuses to pay settlements to the two women.
The Journal also noted in an earlier report that McMahon was under investigation by the WWE board for an alleged $3 million payment to a former employee he was allegedly having an affair with. The investigation began in April.
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Since he’s announced his retirement, McMahon’s daughter, Stephanie, and WWE President Nick Khan took over as co-CEO. Paul Levesque, more commonly known by his ring name “Triple H,” was moved to director of creative.
In order for McMahon to return to the company, three members of the board would need position changes.
Vince McMahon attends a press conference to announce that WWE Wrestlemania 29 will be held at MetLife Stadium in 2013 at MetLife Stadium on February 16, 2012 in East Rutherford, New Jersey.
(Michael N. Todaro/Getty Images)
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The 77-year-old McMahon still owns a majority of the company’s voting shares.
Fox News Digital’s Paulina Dedaj contributed to this report.
