WWE Chairman Vince McMahon has not been working out of the WWE HQ offices since his return last week. According to multiple sources, he has also not attended any WWE TV tapings since then.
As PWMania.com previously reported, according to the Wrestling Observer, prior to the recent corporate shakeups within WWE, new WWE CEO Nick Khan served as a “buffer” between Vince and Stephanie McMahon, as well as between Vince and current WWE Chief Content Officer Triple H. This was due to reported conflicts between Vince and his family members when it came to working together.
Following the recent shakeups, word has it that Khan is now the sole CEO of the company, making all final decisions. In his official capacity as Chairman, Vince is only concerned with the sale of the company and the acquisition of media rights. The current RAW and SmackDown TV contracts expire in September 2024.
This week, Stephanie resigned as WWE Chairwoman and Co-CEO. Those close to the situation within WWE have attempted to portray her decision to leave as being related to her leave of absence from 2022, in the sense that she reevaluated her life following Triple H’s heart condition, and wanted to focus on raising her three daughters, and was wealthy enough that money would never be an issue. Stephanie returned from her leave of absence just as the Vince scandal was heating up, but this time she also left the Board of Directors and severed all ties with the company she’d worked for since she was a teenager.
WWE hopes to sell the company by mid-2023, but there is no guarantee of success. We’ve discussed how WWE wants top dollar for the company, specifically a few billion dollars. Officials are hoping to get around $8.5 billion for the company, which is more than double what Endeavor paid for UFC in 2016.
Many potential buyers for WWE have been identified, including Endeavor, Disney, Amazon, Apple, Netflix, Comcast, and possibly a group led by AEW President Tony Khan and his father. It was also noted that the Saudi Arabia Public Investment Fund appears to be the front-runner, which could be the only way for WWE to remain private and keep McMahon in control.
According to WWE sources, the Saudis are not the favorites, but they are in the running.
On Tuesday night, the Saudis and their PIF were heavily rumored to buy WWE, but Ariel Helwani and TMZ Sports dismissed the rumors on Wednesday morning. According to The Observer, the rumors caused concern among WWE talent, including those working the WWE NXT TV tapings that night in Orlando. The mood was described as “very depressing” as word of the rumors spread around the taping, with many believing the story was true due to the online buzz and frenzy.
Regarding morale within WWE, the general feeling is that when Vince left in the summer, the mood and morale across the board improved significantly, and while there was some uncertainty among talent about creative without Vince in charge, most fears were alleviated over the next few months, and morale had been higher than it had been in a long time. WWE is now concerned, but many factors remain uncertain because nothing significant for the future has been confirmed or finalized.
