Vince McMahon Has No Plans To Leave WWE Despite Recent Stock Sales
Vince McMahon left WWE in the summer of 2022, announcing his retirement out of the blue on a Friday afternoon via a tweet. The day wrestling fans thought would never come, sprung on them out of nowhere. As many predicted, it didn't last. Less than six months later, McMahon was back. Returning to oversee the sale of WWE, the chairman is now on the newly-formed TKO board, and despite a belief he will be stepping away again, and for good this time, a new report claims McMahon isn't going anywhere.
McMahon Isn't Leaving
Sports Illustrated has revealed sources close to McMahon have confirmed the Genetic Jackhammer has no plans to step down from the board and wash his hands of WWE for good anytime soon. Rumors that McMahon might be finishing up with the company his family founded decades ago were fueled by the chairman selling 8.4 million of his TKO shares. More than 25 percent of his total shares with a market value of $700 million.
Investors Sue McMahon Over Fake Sales War During Endeavor Merger
Is Vince McMahon, along with a number of other WWE board members in legal trouble over the way the company was sold to Endeavor?Turns out McMahon selling a chunk of his shares wasn't foreshadowing his exit from TKO and WWE, but because he needed the money to be liquid. That presumably means McMahon needed a significant amount of cash - the better part of $1 billion - for another business venture. SI learned that McMahon needed the money for something, but sources didn't indicate what exactly that money was needed for. Perhaps he'll have another go at turning the XFL into a success.
McMahon Is Bad For The Board
A suspicion that McMahon might not be a part of WWE for much longer has been spurred on by a little more than shares being sold in bulk. Others high-up in TKO have openly admitted McMahon being a part of the board has had a negative effect. Endeavor CEO Ari Emanuel explained that McMahon's unique stock option is why TKO's stock price dropped. There's also an ongoing investigation into the serious allegations made against McMahon, the results of which could force him out of the company whether he likes it or not.
When McMahon first forced his way back into WWE at the start of the year, he began to dabble with creative again too. That appears to have been nipped in the bud since the TKO merger with the chairman having little, possibly even zero input on that level. Randy Orton, who returned to WWE last month for the first time since McMahon retired, commented on Triple H's commitment to employees having more time off to spend with their families now he's in charge.
