Vince McMahon Reportedly Making Major Moves to Regain Power in WWE

Vince McMahon is making moves to reclaim the power he forfeited when he resigned from WWE. The Wall Street Journal reports that McMahon has informed the WWE Board of Directors that he is electing himself and former WWE executives George Barrios and Michelle Wilson to the board.

“The move to reinstate Mr. McMahon, which the board previously rebuffed, and the others will require three current directors to vacate their positions,” reads the story. McMahon, who still has majority voting power, also told the WWE Board of Directors that he will not support any media-rights deal or sale of the company unless he has direct involvement.

“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,” McMahon wrote in a statement. “The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. 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.” Read the full story at WallStreetJournal.com.

This post Vince McMahon Reportedly Making Major Moves to Regain Power in WWE was originally published by Jason Powell on Pro Wrestling Dot Net