Vince McMahon is reportedly planning to return to WWE months after retiring amid an investigation into misconduct allegations.
The 77-year-old businessman, who is the majority owner and former chief executive of the wrestling giant, still has majority voting power and is said to have told the company he intends to elect himself to the board alongside former co-presidents and directors Michelle Wilson and George Barrios.
This would mean three current directors would need to vacate their positions.
McMahon stepped down from his roles as CEO and chairman in July after the Wall Street Journal reported he had allegedly paid millions of dollars in hush money to multiple women following alleged affairs and sexual misconduct.
Now, the Wall Street Journal has reported that in late December he informed the board of his desire to return to the company to help lead a ‘strategic-review process’.
It’s said he believes there is tight window to start a sales process with WWE’s media rights – including those for Raw and SmackDown – due to be renegotiated.
It’s reported that the board responded last month to tell McMahon that it was open to work with him on a review process.
However, the board is said to have told him it unanimously agreed that his return wouldn’t be in the best interest of shareholders.
Sources familiar with the letters told the outlet that McMahon told the board that he wouldn’t support or approve ‘any media rights deal or sale’ unless he had direct involvement as executive chairman.
Speaking after his retirement over summer, McMahon said: ‘I am extremely confident in the continued success of WWE, and I leave our company in the capable hands of an extraordinary group of Superstars, employees, and executives – in particular, both Chairwoman and Co-CEO Stephanie McMahon and Co-CEO Nick Khan.
‘As the majority shareholder, I will continue to support WWE in any way I can. My personal thanks to our community and business partners, shareholders, and Board of Directors for their guidance and support through the years.’
As well as Stephanie and Nick’s new roles, WWE later promoted Triple H – whose real name is Paul Levesque – to Chief Content Officer, while he also took over the company’s full creative direction.
Metro.co.uk has contacted Vince McMahon’s attorney Jerry McDevitt and a WWE representative for comment.
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