Vince McMahon ‘wants $9BILLION from the sale of WWE and the company has already received offers… with UFC owner Endeavor and Middle East investors all linked with purchase’
- McMahon forced his way back into power within the company to facilitate a sale
- The 77-year-old briefly retired last year amid an sexual assault investigations
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Vince McMahon is seeking a huge $9billion if he is to sell WWE and has already received bids from interested parties, according to a report from Bloomberg.
McMahon recently returned to the company in January and was then quickly named as Executive Chairman of the Board, less than a year after he retired amid a WWE board investigation into allegations of sexual misconduct and hush money. His number two in command John Laurinaitis was also removed from the company.
Bloomberg reported on Friday that McMahon is listening to offers, but has put a huge asking price on the company, whose stocks soared amid the interest.
It is claimed that the company has already received offers from potential buyers, who requested not to be identified due to discussions being kept private.
WWE did not respond to a request for comment from DailyMail.com.
WWE chairman Vince McMahon reportedly wants as much as $9billion to sell the company
Superstars Logan Paul and Ricochet fly towards each other during the 2023 Royal Rumble
WWE’s stock has risen 30 percent this year alone amid speculation of an impending sale
The 77-year-old McMahon is the WWE’s controlling shareholder and reinstated himself as executive chairman in January to oversee a strategic review of the company.
According to an SEC filing, alongside McMahon’s return, Alan M. Wexler, JoEllen Lyons Dillon, and Jeffrey R. Speed were removed from the board, while Man Jit Singh and Ignace Lahoud resigned. Additionally, Michelle Wilson and George Barrios returned to the board.
Days later a lawsuit was filed by a WWE shareholder in Delaware’s Chancery Court, accusing him of wielding his 81% voting control to oust three board members, replace them with loyalists, and push through bylaw changes that would ‘impose his will on the board and WWE.’
It also accuses him of using the timing of the forced reinstatement to seize control of upcoming negotiations over the company’s expiring media rights, the ‘lifeblood’ of the business, and forced his way back by leveraging a threat to withhold support for any deal reached without his participation.
The suit states that McMahon’s move was to ‘take complete personal control over any major corporate decision’ by ‘adding his cronies to the board.’
McMahon recently forced his return to the company after a brief retirement amid an investigation for multiple alleged sexual assaults and hush money payments to victims
Cody Rhodes (right) wrestles with Logan Paul during the Royal Rumble in San Antonio, Texas
Superstars and former NXT Tag Team Champions ‘The New Day’ pose during a media event
‘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,’ said Mr. McMahon.
‘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.’
WWE’s stock has risen 30% this year, in part due to takeover speculation.
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