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Vince McMahon retires as WWE CEO…..Brock Lesnar decides to quit in the process.


Romier S
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Big news as Vinnie Max is stepping down as CEO and chairman of the company.

 

https://www.espn.com/wwe/story/_/id/34281650/vince-mcmahon-retiring-wwe-chairman-ceo-signaling-massive-shift-professional-wrestling

 

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The most important person in the history of professional wrestling is handing over the reins.

Vince McMahon is retiring as WWE chairman and CEO, he announced Friday. In a WWE news release, the 76-year-old McMahon further announced that his daughter, Stephanie, and current WWE president Nick Khan will be taking over as co-CEOs. Stephanie, who has been acting as interim CEO, will also take over as chairwoman, per the McMahon statement.

"Throughout the years, it's been a privilege to help WWE bring you joy, inspire you, thrill you, surprise you, and always entertain you," McMahon's statement read. "I would like to thank my family for mightily contributing to our success, and I would also like to thank all of our past and present Superstars and employees for their dedication and passion for our brand. Most importantly, I would like to thank our fans for allowing us into your homes every week and being your choice of entertainment."

 

 

There is no question that the first sentence in that article in unequivocally true. The WWF/WWE and McMahon’s buying up the territories and making wrestling what it is today is indisputable. It’s also I disputable that he was/is an enormous piece of shit that has abused his “contractors”, turned a blind eye to steroid use for years and is in the process of being sued for numerous sexual harassment accusations.

 

As a wrestling fan, my hope that he is completely removed from the creative side of the company as it’s a desperately needed change. Get rid of Kevin Dunn and Johnny Ace, too.

 

Oh and Brock apparently said, fuck it, too.

 

https://bleacherreport.com/articles/10042975-wwe-rumors-brock-lesnar-left-smackdown-after-vince-mcmahons-retirement

 

Quote

 


On the day longtime chairman and CEO Vince McMahon announced his retirement from WWE, a top star reportedly left SmackDown before the show.

According to Bryan Alvarez of the Wrestling Observer, multiple sources said Brock Lesnar departed TD Garden in Boston hours before the scheduled start of Friday's episode of SmackDown.

Fightful's Sean Ross Sapp confirmed the report and noted that was told Lesnar was "pissed off."

Alvarez followed up with a report that Lesnar said something to the effect of, "If he's gone, I'm gone," in reference to McMahon.

 

Brock was like “Ain’t no one else gonna pay me this amount of money to work 4 times a year. Im out!”
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Same. Im super curious now to see how things might change.

 

Part of me wonders how much Vince will still be trying to drive the show via proxy. He's been doing this for so long non-stop, I can't imagine what he'd fill his time with, especially since this surely wasn't his plan.

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  • 5 months later...

Guess who's back?

 

https://www.espn.com/wwe/story/_/id/35388281/vince-mcmahon-back-wwe-ahead-media-rights-negotiations

 



Former WWE CEO Vince McMahon, who remains the controlling shareholder of the wrestling organization, will return to the company to "fully capitalize" on the upcoming media rights negotiations, he announced Thursday.

 

McMahon, 77, retired over the summer following allegations of sexual misconduct that included non-disclosure agreement payments. Though McMahon used personal funds for the NDA payments, he failed to record those expenses, which totaled $19.6 million.

 

After McMahon stepped away, his daughter, Stephanie McMahon, and Nick Khan, a longtime agent at CAA, assumed the roles of co-CEO. In his announcement, Vince McMahon asked to be reinstated as executive chairman of the board of the publicly traded company, along with chair seats for former WWE co-presidents Michelle Wilson and George Barrios.

An SEC filing on Friday shows that Vince McMahon is now back on the board, along with Wilson and Berrios. Three people were removed from the board.

"Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board," said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque in a statement released Friday. "We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value."

 

The board previously rebuffed an attempt from McMahon to return to the company, but he retains the majority of the voting power.

"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," McMahon said Thursday.

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22 hours ago, Romier S said:

I don't think he sells. I could be wrong but I think he's there to negotiate as much money as possible and its only a matter of time until he inserts himself back on the creative side.


WWE has hired JPmorgan to help with the sale it’s being reported. It’s gonna happen. Now the question is to who, as there are many suitors.CNBC has a list of interested parties

 

  • Comcast/NBCUniversal  -Peacock already has WWE network
  • Fox (already involved with airing their content)
  • Disney (Disney + is the home of WWE Network in the Southeast Asia region), they also own Hulu which has new Raw and Smackdown every week
  • Warner Bros. Discovery (who currently airs All Elite Wrestling)- I don’t see this happening which everything going on with that company 
  • Netflix (who is reportedly looking to get into the live-streaming game in 2023)
  • Amazon (who is looking for more live-streaming sports content for Prime)
  • Endeavor (who owns the UFC)
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As far as I know, the reason WWE hired Nick Kahn awhile back was to help set up the company to be sold. I just don't think Vince unretired specifically to help the sale in any way. He just wants to be involved until the end, whether that's when he dies or the company is purchased. 

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I’ll gladly eat crow if I’m wrong but Vince ain’t selling shit. I’m saying it now, he’ll be in full control after this is all said and done like I said and will be back in creative post whatever TV deals they work out. If he does sell, he’ll maneuver to still be in charge post-sale somehow until he’s buried underground.

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The story first broke on comingsoon.net, and then posted on a bunch of other sites, so I would take it with a grain of salt until some actual business site reports it. Being a publicly traded company, word would break this morning once the market opens.

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Comingsoon.net is one of these sites that just throws shit into the wind. 
 

Also networks are refusing to air LIV golf because of the saudi backing, will be hard to get a new tv deal in the U.S. unless open suddenly changes course.

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