Last week, Vince McMahon made his return to the board along with former Co-Presidents George Barrios, and Michelle Wilson. McMahon’s return was pre-informed to the board in December. However, none of the board members wanted him due to the risk to the company.
The 77-year-old was then unanimously elected as Executive Chairman of WWE on Tuesday. On the same day, Stephanie McMahon announced her departure from WWE.
Last month, Wall Street Journal reported that McMahon was returning to the company to participate in media rights negotiations. He also wanted to sell the company to maximize the value of all WWE shareholders. Saudi Arabia’s public investment fund, Comcast (NBCU’s parent company), FOX, Disney, Warner Bros. Discovery (TNT & TBS’ parent company), Netflix, Amazon, and Endeavor Group Holdings (UFC’s parent company) are all reportedly interested in buying WWE.
CNBC reported that the Khan family who owned All Elite Wrestling is also interested in World Wrestling Entertainment. The people familiar with the matter told the news outlet that the Khan family wanted to merge the two companies. However, they didn’t have held a discussion with Vince McMahon, Nick Khan, or WWE’s chief executive. CNBC further noted that the Khan family is open to discussing a potential role for Vince McMahon if the company sold to AEW’s owners.
Barrons, a sister publication of the Wall Street Journal reported that “Tony Khan and family—is in the pool of potential buyers for WWE”. Barrons further noted that the Khan family “will likely look for a financial partner to acquire the asset”.
We will update you when we receive more details. Stay tuned with The Spotlight.