Vince McMahon surprised the wrestling world when he announced his retirement yesterday. McMahon is currently involved in a scandal involving hush money payments to women he had intimate relationships with women who were employed by WWE. Stephanie McMahon and Nick Khan have taken over as co-CEOs and Triple H has returned to run talent relations, but there are plenty who believe it’s all for show.
When Vince McMahon initially stepped down as CEO, he remained in charge of WWE’s creative. Many became cynical after hearing that since he was still essentially running the wrestling side of the company. Now that he is fully stepping away from even his creative duties, the picture should be clearer.
That is not the case, according to several members of the business community. On today’s Wrestling Observer Radio, Dave Meltzer noted that he has talked to several people who work for high-profile companies. From a business perspective, they are just as doubtful that Vince McMahon will give up power as many fans.
“There’s so many questions, some of which are answerable and some of which, time will tell, but as it turns out, you know, I mean there were… The people I was out with tonight are, you know, pretty savvy business people here… With major companies…
Two of them just said, flat-out: “Co-CEOs never work,” which was an interesting thing. One of them said that whatever anyone says, the guy who owns the most shares is still the guy who, in the end, has the power, and Vince, unless he divests himself, and he has not done that and I don’t believe he is going to do that until there is a sale.”
Long-time wrestling fans will always doubt real-world situations when it comes to promoters and talent. Given Vince McMahon’s long reign as the top dog at WWE, it is understandable to think that. Those who aren’t involved in wrestling at all are looking at it from a business perspective and drawing many of those same conclusions.
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Transcription by Ringside News