Vince McMahon.Photo: Ethan Miller/Getty
Vince McMahonis looking to return asWWEExecutive Chairman of the Board nearly six months after he voluntarily stepped down from his position amid allegations hepaid a former employee $3 millionto hide their affair.
“WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms,” Vince said in a statement.
Vince McMahon.Ethan Miller/Getty Images
“The only way for WWE to fully capitalize on this opportunity is for me toreturn as Executive Chairmanand support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives,” he added. “My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder.”
WWE did not immediately respond to PEOPLE’s request for comment.
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Although his daughter, Stephanie McMahon,took over as interim co-CEO and Chairwomanin July, Vince expressed that the changes to the board would allow “unified decision making through the company’s upcoming media rights negotiations and a parallel full review of the company’s strategic alternatives.”
“Ms. Wilson and Mr. Barrios are highly qualified directors whose professional experience positions them well to help the company achieve the best possible outcomes in both initiatives,” Vince added in his statement.
According to Forbes, the WWE’s current deal with Fox is set tocome to an endin 2024.
The parties signed the agreement in January, and Vince used personal funds to pay the woman, theWSJarticle claimed.
A spokesperson for the company toldWSJthat the relationship between Vince and the now-former employee was consensual.
source: people.com
