Is Vince McMahon returning to WWE?
When it concerns Vince McMahon, the guy who helped put WWE on the map, it has been a rollercoaster ride year.
McMahon’s influence within WWE was assumed to be limited after committing to paying “more than $12 million over the course of 16 years to suppress claims of se*ual misbehavior and infidelity.”
All of that transformed a few months ago in the industry. Here’s everything you must know regarding McMahon and WWE as we approach Wrestlemania.
Is Vince McMahon returning to WWE?
Based on a new SEC filing, McMahon has agreed to serve as WWE’s Executive Chairman of the Board for 2 years.
The agreement is effective until Jan 9, 2023, when he re-joined the board of directors. McMahon potentially receives a $2.4 million payment in one lump sum in addition to his $1.2 million regular salary. According to The Wrestling Observer, if WWE relieves him from his status without cause or has “good reason” to leave, he is entitled to severance pay.
In an unusual aspect of the agreement, McMahon controls the ownership of his legal and stage names and his picture and voice likeness. That allows him a say in any memoir, life story, publicity, and persona rights connected to him and the McMahon WWE persona. The question of whether or not to make a documentary about Bill Simmons remains unanswered.
Vince McMahon’s WWE career timeline
According to the Wall Street Journal, McMahon reportedly paid a veteran WWE paralegal bribe for an affair. McMahon later consented to pay “more than $12 million over the course of 16 years to suppress claims of se*ual misbehavior and infidelity,” according to later reports.
WWE’s Board of Directors, which comprised Stephanie McMahon, her husband, Paul “HHH” Levesque, and Nick Khan, hired Simpson Thacher & Bartlett LLP in New York to examine the accusations.
McMahon stepped down as WWE’s CEO but retained the company’s creative control. Wrestlenomics’ Brandon Thurston later reported that McMahon would lose creative authority after announcing his retirement from the organization. Then, Stephanie and former chief financial officer Nick Khan served as co-CEOs.
Stephanie announced her retirement from the company in January, the same month Vince was unanimously re-elected as executive chair of the Board of Directors. The announcement of his return coincided with WWE considering possibilities for a potential sale of the business, in addition to their upcoming TV rights deal. McMahon stated that any potential sale or rights transaction would be impossible without his involvement.
He just paid the corporation $17.4 million to pay inquiry fees. About McMahon’s new status in WWE, Khan told Stephen A. Smith that he is now in charge. “Just one thing, I don’t run the WWE,” Khan said, according to Cageside Seats. “Only one person runs the WWE, Vince McMahon.” Many people assist me in running the WWE.”
Will Vince McMahon be in attendance at WrestleMania 2023?
Triple H has served as Chief Content Creator and Creative Director. Given the recent changes in WWE programming, there have already been rumblings about McMahon’s involvement in creative. WWE executives have attempted to refute those rumors.
According to professional wrestler and Superstar executive Bruce Prichard, McMahon is not engaged in any creative aspects of WWE.
“He hasn’t yet,” Pritchard said, according to Fightful. “He formed it to one TV and said nothing more than, ‘Great program, thank you, guys.’ In that regard, he is preoccupied with the commercial side of things and has delegated responsibility for the creative side to us. So far, I believe we’ve done a good job.
According to PW Insider, this will be tested at WrestleMania 39, as McMahon will attend. It is uncertain what position he will play or whether he will appear in front of a global audience.
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Will the former gladiator lie to rest?
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