Vince McMahon planning a return to WWE, may sell the company: Report

Former WWE CEO Vince McMahon is planning to return to the company and is asking to be reinstated as the executive chairman of the WWE board. McMahon announced his retirement from the publicly traded company last year, following allegations of sexual misconduct with former female employees. It also included non-disclosure agreement payments of up to USD 19.6 million, which was done using his personal funds without recording the expenses.

As reported by ESPN, the former WWE boss expressed his urge to script a return in a statement. “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 said.

Stephaine McMahon is currently serving as the co-CEO of WWE

After McMahon’s exit from WWE, his daughter Stephaine McMahon took over as the company’s co-CEO, alongside former president Nick Khan. At the same time, former WWE superstar Paul "Triple H" Levesque replaced the 77-year-old as the person in charge of the company’s creative direction. In his statement, McMahon praised the current management in place and said his return won’t impact them.

“Do not intend for my return to have any impact on their roles, duties, or responsibilities”

"WWE has an exceptional management team in place and I do not intend for my return to have any impact on their roles, duties, or responsibilities,” McMahon said. The former WWE boss also mentioned that his return to the company will be fruitful for the company. As per ESPN, McMahon’s intent behind coming back to the country is understood to fully capitalize on the upcoming media rights negotiations.

Vince McMahon holds the majority of the voting power

Meanwhile, in his announcement, McMahon asked to be reinstated as the WWE executive chairman, along with chair seats for former WWE co-presidents Michelle Wilson and George Barrios. In order to accommodate the three, the company would require three existing members to vacate their seats. Although the WWE board has previously rebuffed McMahon’s return, he continues to retain the majority of the voting power.