Vince McMahon Shakes Up Stock Market With Shocking Announcement Days After New Year Celebrations

It is hard to keep Vince McMahon out of the news even after he has stepped down as CEO of WWE. Since his departure, there has been speculation about whether he will return to the company he took to new heights.

His sudden exit, due to misconduct allegations, brought massive changes in the promotion and led to upheaval. Now, after a new report that recently came to light about him staging a WWE comeback, things have shaken up again.

Last month, the WWE board rebuffed McMahon’s attempt to return after he had considered calling off his retirement. But now Vinnie Mac is looking to make a power play to take over his brain-child.

Whether his plans come to fruition is another thing, but it has already resulted in a shake-up in WWE’s shares on the stock market.

Vince McMahon return news leads to jump in WWE shares

Despite his retirement from WWE last year, Vince McMahon still holds the majority of shares in the company and majority voting power. According to a recent Wall Street Journal report, he is plotting a comeback to the WWE board as its executive chairman and sell the company.

McMahon has elected George Barrios and Michelle as former co-WWE presidents and board members to the board. He would still need three current board members to leave to accommodate himself and his companions on the board.

McMahon has stated that his return is necessary for WWE to capitalize on the changing media landscape. He said more companies are looking to buy intellectual properties they use on their streaming platforms. This, he believes, makes WWE an attractive acquisition.

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As the news of Vince McMahon’s return plan broke out, WWE’s shares jumped 10 percent hours after McMahon’s announcement. The shares climbed to $79 in pre-market trading after the WSJ report. McMahon owns a 37.6% stake in WWE, which means any sale of the company or media rights will need his stamp of approval.

His return to WWE could come as the sports entertainment juggernaut is looking to negotiate its media rights deals with FOX and USA later in 2023. It is believed that McMahon communicated to the WWE board that he would not approve any sale of media rights until he was back on the board.

Vince McMahon’s return has already led to a shake-up in WWE with its share jumping a good deal. Now with the former boss in a position to retake his position at the top of his company, only time will tell what is next.

Already the stock market value of WWE has increased. If Vince McMahon exercises further control on the board in the coming months, this could lead to a huge change yet again in WWE’s landscape.

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