Vince McMahon resigned from WWE after the bombshell lawsuit from Janel Grant included heinous allegations of sexual assault, intimidation, abuse of power, and sex trafficking. McMahon quit after that story broke, but he may still have some influence.
Vince McMahon’s Current Influence in WWE
We previously reported, via The Hollywood Reporter, that TKO CEO Ari Emanuel and TKO President and COO Mark Shapiro urged McMahon to resign in light of the allegations, although he denied them. McMahon remains under federal investigation in addition to facing the lawsuit.
It was also noted that McMahon may retain some influence in TKO, even after his resignation. This comes in the form of all the stock he still owns, so selling and using his leverage in some way is possible.
This influence could stem from the significant amount of TKO stock he retains, comprising approximately 10% of all outstanding shares.
Sources say that even while McMahon was no longer an active member of the executive team, he would weigh in on creative decisions, reaching out to employees by email and text with suggestions. While McMahon used his power as controlling shareholder to reinstall himself, the new TKO is firmly controlled by Endeavor, making any sort of official comeback unlikely. Just a couple of months after the TKO deal closed last September, McMahon filed with the SEC to sell some $700 million worth of stock in the company, a sizable chunk of his holdings. That being said, he still owns a big portion of the firm, representing about 10 percent of shares outstanding. It may not be enough to reappoint himself to the board, but enough to carry influence.
According to a report by Robert Fishman of Wall Street research firm MoffettNathanson dated January 29th, if McMahon were compelled to sell more stock to cover his legal expenses, it could adversely affect the price of TKO stock. Thus, McMahon’s influence on the company remains, albeit indirectly, due to this factor and potentially other factors as well.
Vince McMahon Can’t Come Back Like Before
While it’s improbable for Vince McMahon to make an official return to TKO and WWE since he no longer holds the controlling stake in WWE after the Endeavor acquisition, there’s speculation that he could still exert influence within the company.
This is not the first time that Vince stepped down from WWE due to Janel Grant’s situation, but fans did not know all the details during the first go-around. During his brief retirement in the latter part of 2022, McMahon continued to offer input on creative matters within the company, where he did make some changes remotely.
It is also important to note that Vince McMahon has no clear direction back to his previous seat on WWE’s Board of Directors. He gave that up, and he no longer has the majority ownership necessary to make any big calls or vetoes.
