Former WWE chairman Vince McMahon is planning a stunning comeback to the company he ran for 40 years, despite retiring just six months ago.
Despite leaving the company in July 2022, Mr McMahon still controls the company through his ownership of Class B shares.
As part of his potential return to the WWE, he has since made clear to the WWE board of directors that he plans to name himself executive chairman of the sports entertainment company.
READ MORE: Ex-WWE star Sasha Banks makes 'f***ing surreal' Japan debut after walking out of company
The 77-year-old released a statement: “WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms.
“The only way for WWE to fully capitalise on this opportunity is for me to return as executive chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives.
"My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder.”
Mr McMahon announced his intention to return following reports that WWE is said to be pursuing options, one of which could be a sale of the company.
As part of his statement, he said he intends to lead any discussion regarding a possible sale or rights negotiations.
He added: “WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities."
To stay up to date with all the latest news, make sure you sign up to one of our newsletters here.
The former CEO's initial retirement came out after an investigation into allegations that he had sexual relationships with employees at the wrestling company and paid settlements worth millions of dollars.
With the investigation having been finalised in November last year, WWE announced that it had spent $19.4million (£16.2m) on costs related to the investigation.
Mr McMahon's departure lead to his daughter Stephanie McMahon and WWE president Nick Khan succeeding him as co-CEOs, while Stephanie's husband Paul Levesque, better known as wrestling icon legend Triple H, took over as chief content officer for the company.
READ NEXT:
WWE chaos as Scarlett Bordeaux covered in drink hurled by 'granny' at live event
'Best ever' WWE legend died in star nephew's arms on hotel bathroom floor
WWE's new boss 'attacked her dad with a steel pipe before he choked her unconscious'
Source: Read Full Article