WWE Chairman Vince McMahon has another lawsuit to worry about that could prevent him from gaining control of the company.

Since his dramatic return, McMahon has put himself in a position to be liable for a potential lawsuit. He returned to WWE after retiring last year after accusations of misconduct with female employees. McMahon claims that he has returned to help the company with its pursuit to sell itself or for a new TV rights deal.

However, his shareholders disagreed with his return and took action against McMahon. On Jan. 11, a WWE investor filed a fiduciary lawsuit regarding McMahon’s return to the company. The claims from investor Scott A. Fellows allege that the chairman asserted himself into his Chairman role illegally and that he disregarded the other WWE Board of Director members. Following the lawsuit filed by Fellows, it’s reported that McMahon is facing another similar lawsuit.

Sportico’s Michael Mccann has reported that the Detroit Police and Fire Retirement System has filed a lawsuit that they hope will prevent McMahon from selling the company and regaining control from the Board of Directors.

Mccann wrote the following quotes regarding the Detroit Police and Fire Retirement System complaint.

“…The complaint argues that McMahon has breached fiduciary duties as controlling stockholder by trying to “impose his personal will on WWE and its [board] by purporting to adopt a package of invalid and inequitable bylaw amendments that would hamstring the Board from making critical business decisions.” 

Although McMahon owns approximately 39% of WWE’s equity, he enjoys far greater stockholder power due to the company’s financial configurations. According to the complaint, McMahon owns about 92% of outstanding Class B shares, which contain 10 votes per share, whereas Class A shares hold only one vote per share. “Overall,” the complaint asserts, “McMahon controls 81% of WWE’s total voting power,” wrote Mccann.

What Happens Next for Vince McMahon Lawsuit Issues

The two lawsuits against McMahon both alleged that he had gone against the interest of the WWE’s business partners wrongfully. It’s also possible more cases will be filed against McMahon for similar grievances. The added lawsuit could halt McMahon from selling the company as fast as he could hope. However, WWE is still preparing to sell the company to buyers potentially.

Another thing to note in Mccann’s report is that he shared that the Detroit Police and Fire System Retirement believes that “…McMahon’s moves run afoul of both Section 141 of the Delaware General Corporation Law and WWE’s charter. Altering the company’s governance structure in the absence of bargained for exchange between WWE and McMahon, the system asserts, “usurps the power of the Board over critical corporate management functions and vests it solely in McMahon in his capacity as a stockholder.” Neither Delaware law nor WWE’s charter permits the kind of transfer of power the system says occurred, and the system wants a declaration the consent is void.”

Both lawsuits make the case that McMahon is wrong, and they have grounds to halt him from doing what he wants with WWE. The report adds at the end that the process of litigation could take some time and effectively complicate a sale from happening.

The Rock has offered up his reaction to rumors of a potential WWE sale going around.

Since the return of Vince McMahon to the WWE’s Board Of Directors, reports have been circulating suggesting that McMahon’s return is centered around the intention to help facilitate a trade of the company.

No deal has been made official just yet, however, during a recent interview with on CNBC’s “Squawk In The Street” show, WWE legend Dwayne “The Rock” Johnson offered his thoughts on the matter.

“Well, I can tell you this, I can tell you it’s an exciting brand. It’s a brand that I’ve been fortunate enough to have tremendous success in over the decades. We’ve seen tremendous success over the years. I think it’s a very attractive company.

“I’m excited, and I wish Vince [McMahon] and that company all the best. I think with the world of professional wrestling and the world of WWE it’s so unique. The fan base is very large and very passionate, and there’s nothing like the WWE.

“With a company like this, it’s been so incredibly successful over the years, a sale and acquisition could be very complicated, but there’s that unique added anchor to this I believe to this that Vince feels where you gotta find the right buyer who still has that passion and love for this very unique world.”

While it has been several years since The Rock last competed inside the WWE’s ring, it’s heavily believed that WWE is attempting to secure him for a massive bout at WrestleMania 39 later this year.

The idea being having The Rock face off against current Unified WWE Champion Roman Reigns at “The Show Of Shows.” However, it has yet to be confirmed whether or not that match will actually come to fruition when it’s all said and done.

Quotes via WrestlingNews.co

Vince McMahon is back in charge of WWE, and it may be just a matter of time before he is on our television screens.

McMahon made his shocking return to WWE earlier this month, less than half a year after his resignation in July of last year.

The 77-year-old billionaire has returned to oversee the sale of WWE, with interested companies including Comcast, FOX, the Saudi PIF, and Shahid & Tony Khan, among others.

For years, Vince McMahon was a regular on WWE programming, with his feud with ‘Stone Cold’ Steve Austin being a key part of the Attitude Era.

Speaking on the latest Wrestling Observer Radio, Dave Meltzer said there is a feeling in WWE that McMahon wants to be in front of the cameras one more time.

“It’s only been a little over a week, and everything has changed more rapidly than I expected. Between Stephanie leaving and Vince [being appointed Executive Chairman.] He is at the office, but he hasn’t been at TV yet. I say yet.

“I mean, is he going to go on TV? I don’t know, I know there are rumors running around that he will. I’ve asked people [in WWE] and they wouldn’t be surprised. But it’s not like there is a date. It’s not like we know he’s going to be on a week on Monday [Raw’s 30th Anniversary event] or he’s going to be at the Rumble.”

“There’s that feeling that Vince is going to want to go out on TV and he’ll get the big reaction.”

Dave Meltzer.

Vince & WWE Creative

One of the biggest concerns among talent and fans is that McMahon will do more than merely oversee the sale of WWE.

Many fear that McMahon will soon be back in charge as Head of Creative, a role that Triple H has been praised for his work in since July 2022.

On his show, Meltzer said that McMahon isn’t just focused on selling WWE.

“He is in the office. He is talking about things other than the sale. There will probably be more and more Vince ‘fingerprints’ as time goes on. As far as creative goes, it just depends on… who knows. If Vince wants it, he’ll work to get it. He may do it slowly.”

Dave Meltzer.

Meltzer added that ultimately, McMahon has the influence to overrule anyone in the company.

“Nick [Khan, CEO of WWE] is running the show, but that’s the same as Triple H and creative. I mean, that’s today but let’s see what tomorrow brings.”

The idea that McMahon’s ‘fingerprints’ being over WWE’s product was also discussed by Matt Hardy on his Extreme Life podcast last week.

For use of these quotes please give a h/t to SEScoops.

Is Vince McMahon a crotchety old miser who is out of touch with what wrestling fans want?

Eric Bischoff isn’t so sure.

McMahon retired from WWE in July of last year but returned to the promotion this month to oversee a potential sale.

The 77-year-old billionaire has since been appointed Executive Chairman following the resignation of Stephanie McMahon.

Ageism

For years prior to his retirement, McMahon faced criticism from fans for being out of touch with what fans wanted.

Examples given include McMahon’s insistence on pushing certain talents over ones more beloved by fans, as seen with Roman Reigns in 2015.

Speaking on his 83 Weeks Podcast, Bischoff rejected the idea that McMahon is out of touch.

“The whole Vince is old and out of touch thing, you can argue that maybe creatively because you don’t like Vince’s vision of what wrestling should be, but it doesn’t mean that he is not in control of his faculties or that he’s missed a beat.”

“I think that’s internet wrestling chatter because people aren’t happy with what they’re seeing on television. ‘Oh, it’s because he’s too old.’ But no ageism, right?”

Eric Bischoff.

WWE Sale

It was just a few months ago that fans expected McMahon to spend his days out of the public eye after the scandals that forced him to retire.

Now McMahon has resumed his role in Titan Towers and will decide who purchases WWE if a sale goes ahead.

On his show, Bischoff argued that despite what some believe, McMahon has never seemed more on top of the wrestling world than right now.

“I would say the events of the last week would suggest that he is far from out of touch.”

Eric Bischoff.

Names listed as potential buyers of WWE include Comcast, FOX, Disney, Amazon, the Saudi Arabia PIF, and Shahid & Tony Khan.

h/t – Wrestling Inc

Vince McMahon is back in WWE and is back in charge once more, but for how long?

McMahon’s shocking return to WWE came last week when he was appointed to the Board of Directors and he has since been appointed Executive Chairman of the company.

It has been reported that McMahon did not work well with WWE’s previous Chairwoman (and his daughter) Stephanie McMahon, with WWE CEO Nick Khan serving as a buffer between them.

Out of a Job

The 77-year-old billionaire is back to oversee a sale of WWE, with numerous big names being listed as potential buyers.

While McMahon fought to get his roles back with WWE, he could be out of a job again if two of the listed buyers end up in control.

Sources within Disney and Comcast told Fightful that they are well aware of the rumors of both companies being interested in a purchase.

Those sources added that it would be hard to believe any major company would want to retain Vince’s services in any capacity in the event of a sale.

Disney and Comcast

To many, Comcast makes the most logical sense as a potential buyer of WWE, given the close connection already existing between the two.

Comcast is the parent company on NBC-Universal, which owns the USA Network, the current home of Monday Night Raw and WWE NXT.

NBC-Universal also owns Peacock, the home of the WWE Network in the United States.

As for Disney, the House of Mouse is no stranger to collecting IPs, including internationally known brands like Marvel and Star Wars.

A sale to Disney would not just mean WWE content on Disney+, but also the use of WWE’s property at theme parks around the world.

How much money would cause Vince McMahon to part ways with the creation he has overseen for close to half a century?

Last week, McMahon shocked the world with his return to WWE, months after his retirement in July of last year.

McMahon returned to oversee a sale of the promotion but has since been appointed Executive Chairman, replacing Stephanie McMahon.

Money Talks

For the right price, you could be the next owner of WWE, but it won’t come cheap.

In the Wrestling Observer Newsletter, Dave Meltzer reports that Wall Street analysts expect WWE to sell for anywhere between $7.4 to $8.2 billion.

WWE is optimistic and is hoping for a sale figure of around $8.5 billion.

The Observer added that the acquisitions market has cooled off in recent days.

Meltzer also pointed out that a purchase from the Saudi Arabia Public Investment Fund would bring a lot of bad publicity to the promotion, but that would likely be temporary.

It is pointed out that the Saudis have purchased Newcastle United, and things have been business as usual since that purchase.

Going Private

It has been reported that if the Saudi PIF does purchase WWE, they intend to turn the company private once again.

In the Observer, Meltzer adds that Tony and Shahid Khan are also interested in taking the promotion private.

It was reported this week that the AEW President and his father are interested in a merger with WWE, but would pool their finances and resources with other groups.

Stephanie McMahon quickly resigned from WWE this week, days after her father, Vince, returned to the company. A new report noted that the two did not work well together.

For years, the company had the dynamic of Vince as the Chairman and CEO, Stephanie working as an executive, and Paul “Triple H” Levesque overseeing developmental. 

Last summer that changed when Vince resigned from his duties amid the hush money scandal, Triple H took over main roster creative, and Stephanie was named co-CEO with Nick Khan.

Vince brought himself back last week by electing himself to the WWE Board Of Directors as he looks to sell the company. A sale of the company is something Stephanie and Triple H reportedly opposed. 

Stephanie resigned from the company this past Tuesday, while Vince was officially named Chairman of the Board, and Khan was named the sole CEO. 

Dave Meltzer reported in the Wrestling Observer Newsletter that those close to the situation “in WWE tried to present her [McMahon] decision to leave as being related to the decision last year.” 

Buffer

Before taking over as co-CEO and Chairwoman, Stephanie announced a leave of absence with the idea of focusing on her family life. She returned once the hush money scandal broke. 

“But that doesn’t explain why this was a resignation, and she left the board and cut all ties with the company she has worked for since she was a teenager. It was also conceded that she and Vince did have issues in working together as family members and how Khan was a buffer who kept things smooth between them and between Vince and Levesque,” Meltzer wrote. 

WWE is looking at selling the company by the middle of this year. 

Chris Adonis, formerly known as Chris Masters, apparently reminded Vince McMahon of Paul Orndorff.

Adonis was recently interviewed on INSIGHT with Chris Van Vliet to discuss several professional wrestling topics. During the interview, Adonis touched on his time with WWE. He revealed that he actually reminded Vince McMahon of WWE Hall Of Famer “Mr. Wonderful” Paul Orndorff.

“I know for certain that I reminded Vince of Paul Orndorff,” Chris Adonis said. “To the extent where they even had Paul Orndorff work with me when we did WrestleMania 21. Coincidentally out here in LA, which is going to be here again now, 20 years later.

“It was really interesting though. So like, they have the ring set up for Wrestlemania if you need to go over anything or whatever. But they specifically designated some time for me to work with Paul, which looking back, was unbelievable to be able to work with Paul Orndorff.”

As for what Orndorff taught him during their time together, Adonis explained that the legend really helped him understand how to properly channel his anger and rage in a healthy way.

“I just remember him trying to teach me about like real intensity and how to translate that in the ring and me just being so young and green though that it was just so next level for me like I wasn’t, you know, I was hearing it but being able to receive that as a 20-year-old and under all these different circumstances and pressure.

“What he was trying to show me, I think, is what you build up when you go through life. Because you build up this edge because good stuff happens but also bad things happen, right? And then those bad things, you build those calluses, and you build that rage, that anger.

“And not necessarily negative anger but anger that can be channeled in positive ways like through pro wrestling, so I just think I was too young to really receive what he was giving me, but it was still useful information to take in.”

Previously, Adonis signed with WWE in 2003 where he competed under the ring name Chris Masters. That initial run lasted until 2007 when he was released. After competing on the independent circuit for a few years, Adonis again returned to WWE in 2009, but was again released in 2011.

That marked his final run with WWE to date, as he has since worked for promotions such as IMPACT Wrestling and the NWA.

Quotes via WrestleZone

Former WWE CEO Stephanie McMahon and her husband, Chief Content Officer Triple H, opposed a potential WWE sell, according to Axios.

This year has begun with a major shakeup with the return of WWE Chairman Vince McMahon on Jan. 6. The chairman returned after retiring last year after allegations of misconduct from former WWE employees. However, McMahon’s return also has led to the possibility of WWE being up for sale.

While McMahon is exploring the possibility of selling the company, it doesn’t seem everyone is on board with the idea. Axios’s Tim Baysinger and Sara Fischer report that Stephanie and Triple H were against the idea of WWE potentially being up for sale.

The Effects of Vince McMahon’s Return

Following McMahon’s return on Jan. 6, Stephanie announced she had resigned from the company on Jan. 10. McMahon’s return also led to the departure of former Board of Director members JoEllen Lyons Dillon, Jeffrey R. Speed, Alan M. Wexler, Man Jit Singh, and Ignace Lahoud.

While WWE employees and fans are worried about McMahon’s return, some former WWE employees and wrestlers are happy he’s in charge. Ric Flair has spoken openly about McMahon’s return and hopes he’s on TV for the Monday Night Raw 30th Anniversary on Jan. 23.

The WWE Chairman’s comeback has also led to a lawsuit that was filed against him by a WWE investor for allegedly forcing himself back on the WWE Board of Directors.

As for the WWE, it is seemingly up for sale and has several potential buyers. On Jan. 10, rumors sparked that the Saudi Arabia Public Investment Fund bought the WWE. However, those rumors were debunked less than 24 hours later.

WWE future is up in the air, as the company opens itself to be sold potentially this year. However, it doesn’t seem everyone is on board with its current direction.

WWE issued a press release Thursday evening addressing the company’s exploration of a potential sale. WWE has engaged financial, legal and strategic communications advisors to support the review of “strategic alternatives to maximize value for all WWE stockholders and other stakeholders.”

Here is the press release, including a quote by the Executive Chairman Vince McMahon.

WWE ENGAGES OUTSIDE ADVISORS TO SUPPORT REVIEW OF STRATEGIC ALTERNATIVES

STAMFORD, Conn., January 12, 2023 – WWE (NYSE: WWE) today announced that it has retained The Raine Group, LLC as financial advisor, Kirkland & Ellis LLP as legal advisor, and August LLC as strategic communications advisor to support WWE’s management team and its Board of Directors in connection with a review of strategic alternatives to maximize value for all WWE stockholders and other stakeholders.

Vince McMahon, WWE’s Founder and Executive Chairman said:

There can be no assurances given regarding the outcome or timing of the strategic alternatives review process. WWE does not intend to comment further until the process has concluded or the Company has otherwise determined that further disclosure is appropriate or required.

# # #

About WWE
WWE, a publicly traded company (NYSE: WWE), is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family-friendly entertainment on its television programming, premium live events, digital media, and publishing platforms. WWE’s TVPG programming can be seen in more than 1 billion homes worldwide in 30 languages through world class distribution partners including NBCUniversal, FOX, BT Sport, Sony India and Rogers. The award-winning WWE Network includes all premium live events, scheduled programming and a massive video on-demand library and is currently available in more than 180 countries. In the United States, NBCUniversal’s streaming service, Peacock, is the exclusive home to WWE Network.

Additional information on WWE can be found at wwe.com and corporate.wwe.com.

Vince McMahon’s return to WWE has shaken the wrestling world to its core and saw the departure of multiple members of the promotion’s Board of Directors.

McMahon, who has the majority voting power in WWE, was reappointed to WWE’s Board of Directors last week, alongside former co-Presidents Michelle Wilson and George Barrios.

Despite McMahon’s return being cited as just to oversee a sale of WWE, the 77-year-old billionaire has been appointed ‘Executive Chairman’ of WWE following the resignation of Stephanie McMahon.

Resignations

The return of McMahon, Wilson, and Barrios also saw the departure of JoEllen Lyons Dillon, Jeffrey R. Speed, and Alan M. Wexler from the board.

Not long after these names were removed, it was reported that Man Jit Singh And Ignace Lahoud had voluntarily relinquished their positions on the board.

In an SEC report filed yesterday afternoon, WWE confirmed that their departures came about because of McMahon’s return.

“Messrs. Lahoud and Singh agreed with the Board’s decision to explore the Company’s strategic alternatives, they did not agree with Mr. McMahon’s return at this time.”

Singh’s departure is particularly notable, as he led the board’s investigation into McMahon’s allegations of sexual misconduct and hush-money payments.

There is currently no word on who will fill these spots.

Legal Trouble

Vince McMahon is back on top of his wrestling kingdom, but how long the Executive Chairman stays there remains to be seen.

One investor with WWE has filed a lawsuit against McMahon, alleging that his methods to take control of WWE are illegal.

McMahon allegedly threatened to oppose any TV rights talks or offers to buy WWE, unless he got the final say on any future plans.

The suit states that the move to “take complete personal control over any major corporate decision” by “adding his cronies to the board” violates Delaware law.

Vince McMahon is back with WWE, and the company could soon be owned by Saudi Arabia, and that’s just something Jim Ross believes the WWE Superstars have to accept.

McMahon returned to WWE last week, initially as a member of the Board of Directors, but has since powered his way into being appointed ‘Executive Chairman.’

It was reported this week that the company had been sold to the Saudi Arabia Public Investment Fund, but it was later clarified that this sale isn’t complete just yet.

Don’t Be a Baby

McMahon’s return to WWE has not gone down well with fans or those backstage, with the belief being that morale was much better with him gone.

It has been reported that talent have been left fearful that mass-cuts will resume with McMahon in charge again, and some anonymous Superstars have told sources they want out.

Speaking on his Grilling J.R. podcast, Ross, a former WWE Head of Talent Relations, gave his advice to the roster.

“I’m sure that the guys that work there are wondering what the hell’s going on. My advice to them is just do your job. Come to work on time, don’t be a problem child, don’t be a baby. Be willing to go along with things to see how it’s gonna work out.”

Jim Ross.

Saudi Arabia

McMahon’s return isn’t the only thing that is shaking morale in WWE at this time.

While reports of WWE being sold to Saudi Arabia were premature, many believe that this sale will still happen down the line.

Fightful Select reported this week that while nobody has asked for their release yet, one talent said “they’d be done” if WWE goes through with a Saudi sale.

On a Fightful live-stream, Sean Ross Sapp said that talent have threatened to walk out if this sale happens, and “100%” believes that those Superstars will go ahead with their threat.

Neither WWE nor the Saudi Arabia Public Investment Fund has confirmed or even commented on the reports of a sale taking place.

h/t – Sportskeeda

Vince McMahon, who returned to the company last week after resigning amid a wave of sexual harassment allegations, has been dealt with a lawsuit. 

According to court documents from Bloomberg Law, a WWE investor named Scott A. Fellows has filed a lawsuit alleging McMahon pushed aside the board to install himself as chairman again illegally. 

The suit was filed in Delaware’s Chancery Court, where the WWE shareholder accused him of using his 81% voting control to oust three board members and then replace them with two loyalists (George Barrios and Michelle Wilson) and make bylaw changes that would “impose his will on the board and WWE.”

The Course

The lawsuit was filed six months after Vince stepped down as chairman and CEO of WWE because of the allegations that he paid $12 million over more than 15 years to keep the sexual harassment accusations quiet. 

Vince’s daughter, Stephanie McMahon, resigned as co-CEO and chairwoman Tuesday. Nick Khan is now the WWE CEO, while Triple H is still in charge of the main roster creative. 

The lawsuit notes that McMahon managed to time his return to get control of upcoming negotiations over the company’s expiring media rights by leveraging a threat to withhold support for any deal reached if the Board didn’t bring him back. 

This was also shared in public SEC documents from December in addition to McMahon stating he wanted to oversee a potential sale of the company. The board, which had included Stephanie, Khan, and Triple H, unanimously voted against McMahon coming back. 

The suit stated the move to “take complete personal control over any major corporate decision” by “adding his cronies to the board” violates Delaware law.

Vince McMahon’s shocking retirement in July of last year did little to stop the former CEO’s business plans, it has been claimed.

McMahon retired following allegations of misconduct with female employees which resulted in millions being paid in non-disclosure agreements.

While McMahon paid out of his own pocket, an investigation determined that these payouts should have been noted on WWE’s financial records as they were seen as beneficial to WWE.

Immediately

Last month, it was reported that McMahon regretted his retirement and was plotting a comeback to oversee a sale of WWE.

Earlier this month, McMahon’s return proved to be successful, as he is now serving as Executive Chairman of the promotion, replacing the recently departed Stephanie McMahon.

On Wrestling Observer Radio Dave Meltzer reported that McMahon had been plotting a sale immediately after his retirement.

“Ever since Vince was ousted, he did open up talks with the Saudis. I mean, this didn’t come in the last week. His coming back was obviously to close the deal.”

Dave Meltzer.

Up for Sale

It was reported by multiple sources earlier this week that WWE had been purchased by the Saudi Arabia Public Investment Fund.

In an update, it has been reported that the sale has not happened yet, but remains a possibility.

The fund has over half-a-trillion dollars to its name and is overseen by its Chairman: Saudi Crown Prince Mohammed Bin Salman.

With the Saudi purchase not confirmed, WWE remains open to offers, with names like FOX, Comcast, Disney, Netflix, and Amazon all considered possible buyers.

Two-time WWE Hall Of Famer Ric Flair says he wants to see Vince McMahon on the upcoming RAW 30th anniversary show.

Flair recently took to his podcast, “To Be The Man,” and commented on the upcoming RAW 30th anniversary show later this month. The 16-time World Champ said he’d like to see Vince McMahon appear on the 30th anniversary show.

“I’m personally glad he’s back. I don’t begin to know, There’s only a few people that do know and I’m not one of them. I honestly believe that he lives and breathes the business and he just said to himself, ‘I own all this stuff. It’s mine. I built it.

“I want back in’, and I don’t blame him. Thirty years of being on TV on RAW. Think about that. Thirty years. I mean, it’s unbelievable. I hope he walks out that door in Philadelphia, busts the door open, stands there, and struts down that aisle and says, ‘I’m back.’ The place would go crazy. I guarantee it. That will be a rating,” Ric Flair said.

An appearance from McMahon is certainly a possibility. Now that he’s back in the fold with the company and has potentially sold WWE to Saudi Arabia. McMahon hasn’t been on WWE television for some time since making his exit from the company last year.

He was forced to step down as WWE CEO after investigations launched into alleged sexual misconduct with female employees. Soon after, McMahon retired from WWE as its head of creative, passing the torch to son-in-law Triple H.

It will be interesting to see if McMahon re-appears on WWE television given that he’s now back on the company’s board of directors.

Quotes via WrestlingNews.co

The Saudi Arabia Public Investment Fund may be the new owners of WWE, but the nation may not have gotten a good deal on their acquisition.

It was reported this week that the fund has purchased WWE, but neither side has confirmed reports of a sale.

The Saudi Arabia Public Investment Fund has $620 billion in wealth and is overseen by its Chairman, Saudi Crown Prince Mohammed Bin Salman.

Overpaid

With over half-a-trillion dollars to their name, the Saudi Arabia Public Investment Fund can certainly afford to purchase WWE.

During a Fightful live-stream, Sean Ross Sapp reported that there is a chance the Saudis “grossly overpaid” considering the competition that they faced.

Other names reportedly interested in buying WWE include FOX, Comcast, Apple, Netflix, Disney, and Amazon.

Sapp reiterated multiple times during the stream that nothing has been confirmed to him regarding a sale, and that there is a possibility that this deal has not happened.

Creative

When Vince McMahon returned to WWE last week, there were immediate concerns that he would make a move to return as Head of Creative.

Following McMahon’s retirement in July of last year, Triple H was appointed Head of Creative, and earned critical acclaim from fans.

Sapp noted that if there was any possible buyer that would be open to appointing McMahon as Head of Creative again, it is Saudi Arabia.

With that said, Sapp added that the relationship between the two sides isn’t perfect, and noted McMahon turning off the broadcast for Crown Jewel 2019 in Saudi Arabia as he hadn’t been paid for previous shows.

After that event, WWE’s roster were prohibited from taking off, with the explanation given that there were mechanical issues with the aircraft.

WWE is reportedly now the property of the Saudi Arabia Public Investment Fund, which isn’t sitting right with those on the roster.

Last week, Vince McMahon returned to WWE to oversee a sale of the company, mere months after his retirement in July of last year.

McMahon has since regained his position as WWE’s Chairman of the Board, replacing his daughter Stephanie, though Nick Khan has remained as the sole CEO.

P*ssed Off

This week, it was reported by multiple verified sources that a WWE sale has taken place and that it has been purchased by the Saudi Arabia Public Investment Fund.

WWE has not confirmed the reports themselves, nor has the Saudi Public Investment Fund.

Speaking on a Fightful live stream, Sean Ross Sapp reported that the talent is far from happy about what is going on.

“I can tell you one thing. I know talent is pissed off. Real pissed off. Really really mad. Really dejected. Really frustrated. And this is all based on rumors. This is not official, nothing like that.”

Sean Ross Sapp.

WWE has worked with the Kingdom of Saudi Arabia for years and is part of a decade-long deal with the nation to host major events there.

This relationship was put on hold during the Covid-19 pandemic, with the missing dates being tacked on to the end of the deal.

WWE and Saudi Arabia

The reports that WWE are now owned by the Saudi Public Investment Fund raise a lot of questions about the future of the company.

WWE’s relationship with the kingdom has always been controversial given the country’s restrictive laws on women, LGBTQ+ people, and other groups.

There is also the question of Sami Zayn, arguably WWE’s most popular Superstar today, who given his Syrian heritage, is not allowed to compete at any Saudi shows.

It has been an absolute whirlwind of news ever since last year, when it was revealed that Vince McMahon had been accused of sexual impropriety and was stepping down as the CEO of WWE.

It seemed like every month since then has added another layer to, what could be, the biggest story in the history of professional wrestling.

Earlier today, Stephanie McMahon issued a press release stating that she had resigned from her role as the Co-CEO of WWE, a position she took after her father stepped down.

That move had the wrestling world buzzing and now it looks like where there’s smoke, there’s fire.

Numerous wrestling journalists and media personalities are reporting that WWE has been sold.

The buyer? The Saudi Arabia Public Investment Fund.

There are also rumors that the buyers will be taking the company public.

Cassidy Haynes, with Bodyslam.net, was the first journalist to go public with what he was hearing from sources, taking to Twitter to write that “For what it’s worth, I’m told the Saudi deal is done and they’re taking the company private.”

Haynes, the Editor-in-Chief of Bodyslam.net, was the first to break news that Bryan Danielson was headed to AEW and he doesn’t spread news unless he’s sure of it.

The tweet, and subsequent article from Bodyslam.net, was further backed up by Steven Muelhausen, who wrote that sources have told him that “WWE has been sold to Saudi Arabia’s Public Investkent Fund. The company will go back to being private. Unknown if Vince McMahon will return to head of creative but it is expected by some people.”

Other reporters, such as Sean Ross Sapp or Dave Meltzer, have yet to confirm the story.

It’s currently unknown if Vince McMahon will be back as the head of creative. It’s also unknown what this means for Triple H, or even talent like Sami Zayn who, because of his Muslim descent and his ethnic ties to Syria, prevented him from appearing on any of

• Vince McMahon Return Could Lead to Lawsuit by WWE Shareholders

This has the potential to be the biggest story in the history of professional wrestling, and SEScoops will continue to provide updates on this breaking news as more information becomes available.

Vince McMahon’s dramatic return to WWE’s Board of Directors could result in a lawsuit by shareholders.

The recent turmoil atop pro wrestling’s largest promotion has caused a lot of unease and uncertainty for WWE fans. McMahon ended his retirement and re-joined the company on Jan. 6 after stepping away following allegations of misconduct with female employees. His reasoning for his comeback was to help WWE in its effort to negotiate a TV rights deal or to sell the company.

However, McMahon’s return could lead to a lawsuit against himself and others in the company. PWInsider’s Dave Scherer reports that his friend, who is part of the group in the WWE shareholder lawsuit that was filed last year after the NDA allegations against Vince McMahon surfaced, claimed in an email his return could be a “…breach of a fiduciary lawsuit.”

“…You also may have seen the news this past week about Vince McMahon forcing his way back onto the board, along with a major board shakeup. As a result, we believe there is enough of a basis to bring a breach of a fiduciary lawsuit. We hope to file a complaint against McMahon and possibly other directors/officers for breaching their duties to WWE and its shareholders. We should have a draft for you to review in the next couple of days,” said the email.

What Happens Next with Vince McMahon In A Potential Lawsuit?

While PWInsider’s Scherer reports that McMahon could be in breach of a fiduciary lawsuit, it’s worth pointing out that the email states that a complaint hasn’t been filed yet.

Based on the email, McMahon’s return goes against shareholders’ interest, which helps the case for a lawsuit. Despite the WWE Chairman’s belief that his return aids the company with a potential sale, the shareholder may disagree. An official complaint against the WWE Chairman could be filed if the email is valid.

If McMahon is found to have breached his commitment to his shareholders, he would have to pay for the damages he caused.

SEScoops will provide an update on a potential lawsuit against McMahon occurs.

WWE Superstars are concerned that the era of mass releases will resume now that Vince McMahon is back with the company.

McMahon retired from WWE in July of last year due to allegations of misconduct which resulted in millions of dollars being paid out in NDAs.

Last week, McMahon was reappointed to WWE’s Board of Directors alongside former WWE co-Presidents Michelle Wilson and George Barrios.

Concerns

Vince McMahon and WWE have insisted that his return is to oversee a potential sale of the promotion and nothing more.

Many are skeptical of this claim, believing that McMahon would not return to WWE if he did not have plans to be at the very top of the promotion again.

On Wrestling Observer Radio, Dave Meltzer said that there are worried Superstars fearing the return of mass releases.

“Everyone’s worried again because it’s like ‘if Vince is in charge and they’re trying to sell, does that mean they’re going to start doing cuts again?’”

Meltzer reiterated previous reports that WWE morale was significantly higher after McMahon’s retirement last year.

Morale in the locker room was said to have been at an all-time low following last year’s Royal Rumble Premium Live Event.

Sale

It was in April 2020 that WWE began a new strategy, releasing talent in large waves that drew significant backlash from fans.

At the time, some suggested that WWE was cutting costs to widen its profit margins and make the company look more attractive to potential buyers.

A list of buyers rumored to be interested in WWE includes Comcast, FOX, Disney, and Netflix, among others.

h/t – PW Mania

Vince McMahon’s blunt force return to the executive chair of World Wrestling Entertainment’s board was inevitable. Outside a criminal conviction and Vince being put in prison, he was always coming back from the hush fund scandal.

The bump in the stock price over the last two working days shouldn’t fool anyone – McMahon doesn’t care about their best interests, and what he wants often conflicts with his own best interest. McMahon’s payoffs for various affairs with female employees had to be documented and accounted for with the Securities and Exchange Commission after he left WWE in the summer. Criminal allegations against McMahon for sexual assault have gone back to the 1980s, including various Non-Disclosure Agreements that former WWE employees have signed. As of now, four women have said McMahon forced them to perform oral sex on them. One worked at a tanning salon in Boca Raton, Fla., and had filed a report. The other – which had came to light recently in early December – accused him of assaulting a spa manager at a resort in San Diego in 2011. The other two – in 1986, and the other in the mid 2000s – came from former employees.

McMahon’s return was always going to happen. He wasn’t going to let the his own sordid and horrid past keep him from doing what he wants with his wrestling company. That the company had turned its ratings and creative fortunes around under Nick Khan, his daughter Stephanie and his son-in-law Paul Levesque – who replaced McMahon in creative – probably infuriated him. His assurances of not disrupting the current management team are absurd – he will likely take over creative as soon as he possibly can. Even if this costs them a chance at booking The Rock for a feud against Roman Reigns, or any more appearances from John Cena.

There’s no other reason for these board moves by him if he wasn’t going to otherwise. McMahon told the board and management he only plans to be there to initiate a sale for the company, something he would have to be there to do anyway. In fact, when McMahon was investigated and kicked out last summer, the board said they would include McMahon on any negotations for media rights or a sale, and said he would be integral and needed voice – especially since he owns most of the company’s stock.

McMahon’s stock position guarantees he’s part and partial to any media or sale talks, so his return is obviously not linked to that.

What McMahon wants is to not to, “eat his cake and have it, too,” he wants to sell his cake and still eat it. He wants a buyer that will let him run the day to day operations of the company – after giving him several billion dollars for the company.

WWE Sale

WWE has been exploring a potential sale since the early-to-mid 2010s. Peak interest began in 2016 when Ultimate Fighting Championship sold for a surprising $4 billion. Also part of that deal, then president Dana White (who didn’t own the company, but had breathed life back into it during the early 2000s and made it a massive success in the following years), stayed on board to continue managing the company.

For years, that made the magic number for a WWE sale $4 billion, if not more. That UFC is now a more valuable product doesn’t matter, to McMahon its about his ego, and that was the number he wanted for a sale at the time, though it wasn’t official. The best time to sell the company was in 2018 when it had negotiated new TV and multi-media deals with Viacom and FOX. WWE later negotiated with Viacom to add the WWE Network streaming service to the Peacock app, handing over years of content.

McMahon said he believes this time – coinciding with their 2024 media rights negotiation – is the time to sell, which is ironic given this was what wrestling business insiders had said after WWE completed its last deal. The company’s seemingly bulletproof profitability – especially after trifling and morally questionable cost-cutting during the COVID-19 pandemic in 2020 and 2021 – has only grown.

Alex Sherman of CNBC.com said if a sale occurs, it would most likely happen in the next three-to-six months. Sherman said WWE’s market cap is around $6 billion after the bump its stock took after news of a sale hit the news. This is the number various sources said WWE is looking to get. The company hired JPMorgan Chase to advise, though how much advising they’ll be allowed is another question. Sherman said a sale would likely have major strings attached from McMahon’s side.

McMahon’s potential buyers will have one particular string that would be too much – McMahon himself. Likely any deal would include keeping him with the company as president and creative head. Levesque’s ratings success over the past six months put a huge dent into the fantasy that only McMahon can make a major pro wrestling company into a multi-media success, a legend that Tony Khan and All-Elite Wrestling have already chopped down over the last three years. For years, many debated if anyone other than McMahon could run he company, and that question was answered. McMahon could have sold the company at numerous times during the last several years, now he’s counting on the expense of rights deals to push media companies into just purchasing his company whole.

Potential Buyers

Who would buy WWE? There would be numerous interested companies from all over the world – some more likely than others.

NBC Universal

Comcast and its parent company – NBC Universal – would be the likely top destination for WWE. The two companies have a relationship back to the 1980s and the first Saturday Night’s Main Event. WWE programming has also been on NBCU owned USA Network for the same period of time, outside one contract in the 2000s when WWE was on Spike TV. McMahon has relationships with NBCU that have lasted decades. WWE Network content also is on its Peacock streaming network. NBCU is already paying billions to air WWE programming – why not buy the whole thing? The biggest concern for NBCU would be losing thousands of hours of WWE programming if its bought by a competitor. Live sports and wrestling have maintained their ratings better than traditional scripted TV – even most reality TV.

WarnerDiscovery

AEW fans would go into a panic if WarnerDiscovery bought AEW, but it’s highly doubtful the company would fold or would leave major cable TV. AEW was negotiating with Showtime before it aired its first episode of Dynamite on TNT or made an official announcement of its existence. With the company’s solid ratings and with a rights deal that would be much more affordable and more “bank for the buck” than a deal with WWE, AEW would have suitors. New Japan Pro Wrestling had interests from several major media companies when it began probing for a US TV deal last year – including ESPN – but was locked out of landing in many spots because of its TV deal in Japan.

Warner missed out on WWE during the last negotiations in 2018. This is one reason the network became home to AEW. WWE Network would also be a major content addition to HBO MAX. But it also comes to costs, something WarnerDiscovery has been slashing as well as its own content on its streaming platform. WWE Network content comes with many residuals to be paid, something that WarnerDiscovery is trying to shed on its own content.

FOX

WWE would be a major pickup for FOX for various reasons. The company already airs Smackdown on its major OTA network on Friday nights. A purchase would be a massive boost to its streaming applications across the board and take away a certified hit show from its NBCU competitor. Not to mention the PPV’s that would also be a huge streaming driver for FOX.

Disney

Disney has the strongest content library in the game, not to mention he numerous networks it owns. It’s biggest competitor is NBCU. Grabbing WWE would be a major get for Disney, which could add Raw and Smackdown to ESPN easily with the Disney+ app building up its massive library with another huge purchase of content, like it did with the purchase of FOX’s movie studios in 2019. Sherman said returning CEO Bob Iger is always looking to make an IP slash and taking WWE from NBCU would also be a bit of a get back for Iger, who purchased FOX after NBCU drove the cost up tens of millions.

The Saudis

The controversial relationship between WWE and Saudi Arabia has also been a profitable one. WWE has made more money off its shows in Saudi Arabia then in any of its other endeavours, including every single WrestleMania. Saudi’s PIF hedge fund told Front Office Sports its interested in buying the company from McMahon. It would likely be the company most comfortable with McMahon maintaining a presence on screen and off.

PIF also has the cash – about $620 billion in cash, according to Front Office Sports – and has already dipped its toe into American sports with its LIV Golf tour, which drew away several stars from the PGA. The hedge fund also owns Premier League’s Newcastle United.

The sale would be a PR nightmare, not that McMahon would mind. Some of his own wrestlers won’t work its events in Saudi Arabia, something that has been an issue with stockholders. There’s also the Saudi government holding WWE’s roster virtual hostage at an airport aboard a plane a couple years ago.

The biggest problem for PIF – where do you broadcast it? The potential PR fallout may not be worth WWE’s big ratings for US streamers and media companies.

Vincent Kennedy McMahon.

What can be said about this man that hasn’t already been said?

While his contributions to the world of wrestling and sports cannot be understated, to many, he is a cutthroat business mogul who will ruin lives to get his way.

In the ring, McMahon holds shocking victories over the likes of The Undertaker, Shawn Michaels, Bobby Lashley and even John Cena.

But for as compelling (often in a car-wreck-esque way) as McMahon’s matches can be, they’re nothing compared to his work out of the ring.

McMahon has proven himself to be a fighter, and here are Vince’s biggest wins that took place out of the ring.

5: Survivor Series Triumphs over WarGames

In 1987, WWE introduced their new November Pay-Per-View, Survivor Series, following the success of WrestleMania 3.

The November date was picked as it was a good middle-ground between WrestleManias 3 and 4, but that wasn’t the only reason.

The same night as Survivor Series, the NWA were hosting their own major event of the year ‘Starrcade’ and this led McMahon to launch into an attack.

In what McMahon himself has called nothing more than a direct threat, the then-WWF Chairman informed Pay-Per-View providers that if they aired Starrcade, then they would be banned from hosting WrestleMania 4 and all future WWF events.

Almost every Pay-Per-View provider relented, and only a handful aired Starrcade, in what would be a very special Thanksgiving night for the McMahon family.

4: WrestleMania

Today, WrestleMania is an internationally known name and hosts the very top names in wrestling and entertainment.

There’s a reason why WrestleMania tickets sell out so fast, but in 1985, the show was McMahon’s biggest gamble.

Realising that times were changing, McMahon invested heavily in the concept of Pay-Per-View, and if urban legends are to be believed, even put his house down as collateral for the show.

Had WrestleMania 1 flopped, the WWF would have struggled to recover, and McMahon would have forever been tarnished as the man who tried and failed to force change.

Instead, WrestleMania 1 was a hit, and would add fuel to McMahon’s burning desire to do better, and it wasn’t long until other companies followed suit.

3: Ending the War

From the moment Lex Luger appeared on the first WCW Nitro in 1995, the Monday Night Wars were on.

The war saw McMahon and the WWF face the greatest competition they’d ever faced, and for a while, things looked bleak.

As Eric Bischoff will remind anyone within ear shot, WCW Monday Nitro demolished WWF Raw 83 weeks in a row, and there was a time when McMahon’s baby looked sunk.

A dramatic change of storytelling (complete with a new Attitude) would turn the tide, and thanks to inept heads at WCW, the war would end on March 26, 2001, with McMahon the victor.

As Paul Heyman on commentary called out “they say that Alexander the Great sat on a rock and cried, for he had no more world left to conquer” McMahon proved to be the conqueror of pro wrestling, buying out his competition.

2: The Steroid Scandal

During the 80s, WWF Superstars were larger than life, but to many, names like Hulk Hogan, Randy Savage, and countless others were too large.

In November 1993, McMahon was indicted in a federal court and was accused of approving and distributing steroids to his roster.

McMahon temporarily ceded control of WWF operations to his wife Linda, and was looking at serious prison time if convicted.

McMahon’s saving grace would ironically come from a wrestler who played a prisoner, as Kevin ‘Nailz’ Wacholz testified that McMahon ordered him to use steroids.

That may sound like bad news for McMahon on the surface, but when Wacholz made it clear he was an unreliable and hostile witness, his credibility, and the credibility of the claims, were called into question.

In July 1994, a jury acquitted McMahon of all charges, proving that even the federal government can’t stop Vincent K. McMahon.

1: The Second Coming of Vince McMahon

To paraphrase the late jazz singer Dinah Washington, what a difference a week makes.

This time last week, fans knew that McMahon was hopeful to return, but few believed it would happen.

After all, WWE has been doing so well without McMahon’s iron grip on production, that it just seemed to make no sense for him to return.

Yet, here we are.

There was a time when fans thought McMahon would never retire, and when he did, thought he’d never return, and hell has frozen over for the second time in six months.

Whether McMahon’s claim of merely being there to oversee a sale of WWE is genuine or not, McMahon is back on the board, in arguably the biggest win of his career.

J.P. Morgan, a global leader in financial services, will oversee the sale of WWE following the return of Vince McMahon.

Earlier this week, McMahon confirmed reports that he was plotting a return to WWE after his retirement in July of last year.

Yesterday, McMahon was appointed to WWE’s Board of Directors alongside former WWE co-Presidents Michelle Wilson and George Barrios.

J.P. Morgan

Sources who spoke to CNBC reported that J.P. Morgan will advise WWE on a potential sale, which if one happens, will be the first in the company’s history.

Those same sources said that if a deal is struck, it will likely occur within the next six to three months.

During a company-wide message, WWE President Frank Riddick clarified that McMahon’s return does not guarantee a sale of the promotion nor a merger with another company.

Buyers – Comcast

An internationally-known brand that reported record profits during the pandemic, it is hardly surprising that WWE is making for quite an attractive purchase.

CNBC reports that Comcast would make a sensible buyer of WWE, given that the company already deals with the McMahon-led promotion.

Comcast owns NBC-Universal, which owns both the USA Network and Peacock, the home of WWE Monday Night Raw and the WWE Network respectively.

Comcast CEO Brian Roberts said in October 2022 that the company isn’t in a rush to pursue an acquisition.

FOX

FOX is also named by CNBC as a potential buyer, and they two have experience with WWE.

The home of WWE SmackDown, FOX has reportedly been very pleased with WWE since their deal was struck in 2018.

Higher-ups at FOX have been delighted that WWE has been eager to please them, including having top-drawing names like Roman Reigns, Charlotte Flair, and Ronda Rousey on the blue brand.

Fox sold most of its entertainment assets in a $71 billion sale to Disney in 2019, though WWE would likely fit into the company’s sports and live events focus.

Disney

The House of Mouse has been collecting IPs like Thanos collects Infinity Stones, the Marvel villain of course being under Disney’s ownership.

With former CEO Bob Iger returning (the irony!) CNBC suggested that he could make a splashy acquisition to cement his return.

If so, WWE would likely be placed on ESPN+ and the WWE IP would be applicable for merchandizing and theme park businesses.

Warner Bros. Discovery

Current WBD CEO David Zaslav slashed costs upon his appointment to the top of the merged company, and spending billions on WWE is within the budget.

While a huge purchase like this would run counter to his cost-cutting strategy, Zaslav has spoken in the past about his interest in owning IPs.

With WBD pleased with the success AEW has had so far, it is possible that higher-ups will now set their sights on the much more internationally-known wrestling promotion.

Netflix

It has only been recently that Netflix has opened up to the idea of sports on their programming, with the success of various documentaries.

Netflix also boasts around 223 million paid subscribers (as of 2022 Q3) though the platform has been losing subscribers with many unpopular changes.

Speaking last month, co-CEO Ted Sarandos spoke about how Netflix wouldn’t be renting sports, only buying.

“We’ve not seen a profit path to renting big sports. We’re not anti-sports; we’re just pro-profit.”

Amazon

Unlike Netflix, Amazon has never shied away from acquiring sports, and pays $1 billion per year on Thursday Night Football.

Amazon could bolster Prime Video with live matches and WWE’s library content while easily boosting merchandizing opportunities.

Owned by the richest man on the planet Jeff Bezos, the price of a WWE purchase would not be a problem for Amazon.

Endeavour Group Holdings

In 2021, Endeavor purchased 100% of the UFC, but this may have just been the start of their plans.

Endeavor superagent Ari Emanuel has said that he wants to get into the business of live-events, making WWE a very attractive option.

UFC generated over $1 billion in revenue in 2022, proving that live events can be profitable to Emanuel.

Vince McMahon may be back with WWE, but staff at the company’s offices shouldn’t have to worry about one of his famed outbursts.

McMahon returned to WWE yesterday as a member of the Board of Directors after announcing his retirement in July of last year.

McMahon and WWE have claimed that his return is to oversee a possible sale of the company.

Out of the Office

For decades, McMahon ruled WWE, and as a result the wrestling world, with an iron fist from his office at Titan Towers.

During Wrestling Observer Radio, Dave Meltzer reported that McMahon won’t be a regular at WWE HQ.

“I don’t think he’s coming back to TV, I mean, the word is he’s not. The word is he’s not even returning to his office. We’ll see how long that lasts.”

Dave Meltzer.

McMahon plans on creating a portfolio of WWE’s assets and advantages to pitch to potential buyers.

Names being thrown around as possible buyers include Comcast, FOX, Disney and Saudi Arabia.

New Home

McMahon won’t be returning to the famed Titan Towers, but soon no WWE employee will be calling the office home.

A report this week confirmed the news of a move, though WWE will stop be operating in the state of Connecticut.

A company spokesperson told CTinsider the move is planned to commence towards the end of the first quarter of 2023.

707 Washington Blvd in Stamford, CT, will be home to more than 800 people once the company’s new offices have been opened.

Saudi Arabia’s Public Investment Fund is emerging as a potential bidder for WWE. 

WWE has close ties to the Middle Eastern kingdom through its 10-year partnership with the Saudi General Sports Authority, which sees WWE present two events per year in the country. 

Their first show was held in April 2018 with the Greatest Royal Rumble. It was originally supposed to feature one event before the partnership was expanded to two large-scale events per year in late 2019. 

PIV’s Backing

This is according to sources of Front Office Sports. The fund controls $620 billion in assets with Saudi Crown Prince Mohammad bin Salman as Chairman. 

LightShed Partners analyst Brandon Ross told Front Office Sports: “In the same way they did LIV, there’s an unlimited faucet of dollars there. The Saudis are already a decent part of the profitability of the company just on those two [Saudi-based WWE] events alone. They’re trying to be relevant in the entertainment world.”

The fund has looked into getting more involved in sports as they’re the majority shareholder in English Premier League football club Newcastle United, having acquired the club in October 2021. 

Front Office Sports reported that PIF isn’t the only possible bidder, as other potential buyers would be Amazon, Comcast, Endeavor, Liberty Media, and CAA. 

Talk of WWE being sold comes after Vince McMahon returned to the company where he elected himself, Michelle Wilson, and George Barrios to the Board of Directors. He has angled his return as wanting to oversee the sale of the company should there be bidders ahead of its television rights deals which expire next year. 

It was emphasized that WWE might not be sold while taking the company private and was also touted as another “possible avenue” if it was “the best outcome for shareholders.”