WWE is entering into big-money television rights deals at the moment, and Vince McMahon is using that against them. As controlling stockholder, McMahon can reject any proposed deal on the table, and that’s exactly what he is threatening to do unless he is reinstated in his previous corporate position.
PW Insider noted that there has always been verbiage in official WWE documentation that indicated Vince McMahon could do this. Be that as it may, some in WWE are still blown away by this development, with some considering leaving instead of working under Vince McMahon.
There have been a lot of people in the company living in denial that this could happen, even though all of the forward looking statements the company has released over the last half-year have noted “through his beneficial ownership of a substantial majority of our Class B common stock, our controlling stockholder, Vincent K. McMahon could exercise ultimate control over our affairs, and his interests may conflict with the holders of our Class A common stock.”
Vince McMahon’s return to WWE is a shocking one, but the surprise factor isn’t as great. While it is practically unheard of that Vince McMahon would take this tactic to regain control of WWE, it is something that has always been a possibility. We will have to see how things pan out in the months to come, but 2023 just got started.
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