Vince McMahon Returns to WWE’s Board, Seeking a Possible Sale

Vince McMahon, World Wrestling Entertainment Inc.'s controlling shareholder and former CEO, is returning to the company's board as the company explores strategic options.

According to a statement Friday, McMahon won't be involved in day-to- day operations. The former CEO said that the business should look at a possible sale.

The company will explore all strategic alternatives to maximize shareholder value, according to McMahon.

The shares of World Wrestling Entertainment jumped as much as 25%. The company's value has increased since July of 2015.

McMahon is returning to the board along with two other people. McMahon removed several people from the board. Ignace Lahoud and Man Jit Singh have left the board.

With its TV rights coming up for renewal, it is a good time to review the company's options. There is a growing demand for live events that attract viewers and media companies want to own the content on their platforms. The Peacock streaming service and USA cable network are owned by NBCUniversal.

McMahon said that the only way for the company to take full advantage of the opportunity was for him to return as executive chairman and support the management team in the negotiations for their media rights.

It makes a lot of sense to explore a sale and it seems like a good fit. A large bidding pool would be attracted to the business due to its popularity.

When asked if it would consider purchasing the business, the company wouldn't say anything.

Over the past 16 years, McMahon made payments to settle allegations of sexual harassment and infidelity.

McMahon agreed to make personal payments to the company over the course of six years, but they should have been recorded as expenses. It has said that it has received regulatory, investigative and enforcement inquiries.

McMahon will accept the findings of the investigation.

A complicated family dynamic could result from McMahon returning to the board. McMahon and Khan are the co-CEOs of the company. They are both on the board along with Paul Levesque, who is McMahon's husband. The company's Class B shares have 10 votes and are owned by the 77-year old Vince McMahon.