Vince McMahon wants to sell the business he turned into a global entertainment brand in order to return to the World Wrestling Entertainment.
Ethan Miller | Getty Images According to the Wall Street Journal, McMahon indicated on Thursday that he would be electing himself and two former co-presidents and directors to the board. Three of the current directors will have to leave their jobs.
The 77-year-old retired in the summer of 2022. He used his own money to pay for the non-disclosure agreements, but didn't record them as personal expenses.
McMahon has tried to return before, but the board turned him down. McMahon said the "WWE is entering a critical juncture in its history with the upcoming media rights negotiations, which coincide with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms."
"My return will allow World Wrestling Entertainment, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder," he said.
McMahon's daughter and son-in-law have been co-CEOs of the company since he retired, but he may not have a problem with them as much as he would like. McMahon told the WSJ that he left last year because of bad advice from people close to him.
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