WWE majority owner Vince McMahon will reportedly attempt to return to the company following his retirement in 2022 to sell the company.
Lauren Thomas of the Wall Street Journal broke the story on Thursday.
McMahon previously retired as chairman of the company after his sexual misconduct scandal last year. Despite stepping out of the public eye, he retained majority voting power through his ownership of WWE‘s Class-B stock, according to the WSJ.
McMahon intends to elect himself and two former co-presidents, Michelle Wilson and George Barrios, to WWE’s board. The move will require three directors to vacate their positions. The article did not make clear who those three executives would be.
As for what he plans to bring to the role:
Mr. McMahon believes the media landscape is evolving quickly and more companies are looking to own the intellectual property they use on their streaming platforms, making WWE an attractive takeover target, the people said. WWE, which generates most of its revenue from selling content rights, posted its first year of over $1 billion in revenue in 2021. The company currently has a market value of just over $5 billion.
Only time will tell if Vince and his grand plan come to fruition. It’s currently unclear what this reported development means for co-CEO Stephanie McMahon, Vince’s daughter.