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Vince McMahon retiring from WWE has hit the mainstream.
The news landed on the front page of the Wall Street Journal on Saturday and other news outlets including CNN, ESPN, Yahoo, and more.
The Wall Street journal piece confirmed that McMahon would not retain any creative role with the company any longer. The article also notes that WWE has McMahon leaving the company would significantly reverberate through the corporate side of the company.
“WWE describes Mr. McMahon as critical to the success of the company, which runs the world’s most famous wrestling business and reported record revenue of $1.1 billion last year. WWE said in regulatory filings that losing Mr. McMahon would put its entire business at risk.”
Vince McMahon announced his retirement from WWE Friday afternoon on Twitter. Stephanie McMahon and Nick Khan will both serve as CEO’s. Stephanie opened Friday’s episode of WWE Smackdown and led the Boston audience in a “thank you, Vince” chant. Bruce Prichard reportedly ran the gorilla position throughout the show in Vince’s absence.
Vince McMahon is currently being investigated by the WWE Board of Directors for hush money payments to WWE employees with whom he allegedly had affairs with. The Wall Street Journal reported that McMahon payments totaled over 12 million dollars over the last 16 years.
I’d love to know what legal team is advising Vince since he is doing everything correct to avoid the SEC. Of course it’s a work and Vince will return around WM2023 to save the stock and help the Wrestlemania tickets. Maybe even a Vince match to allow him to return. Against Flair? lol