Vince McMahon press release hints at a WWE return; potential sale of the company

Vince McMahon recently put out a press release stating that he wishes to return to WWE as Executive Chairman.

A Wall Street Journal report emerged that stated Vince McMahon regretted his decision to retire and was planning to return to the company. It was later reported that the former Chairman was planning to return and negotiate the sale of the company.

In the wake of these rumors, Vince McMahon sent out a press release. In the notice, Mr. McMahon mentioned that he wishes to capitalize on a unique opportunity that will "maximize long-term value for all WWE shareholders."

"Vince McMahon, the founder and controlling shareholder of World Wrestling Entertainment Inc. ("WWE" or the "Company') (NYSE: WWE), announced today that he has taken necessary actions to position the Company to capitalize on a unique opportunity to maximize long-term value for all WWE shareholders."

He also mentions that he wishes to appoint himself, Michelle Wilson and George Barrios to the board of directors while also removing three current members of the board.

"The actions, communicated to WWE's Board of Directors today via written consent, include the election to the Board of Mr. McMahon, as well as Michelle Wilson and George Barrios - former WWE Co-Presidents and Board members, and currently the Co-Founders and Co-CEOs of Isos Capital Management - and the requisite removal from the Board of three directors. Mr. McMahon expects to assume the role of Executive Chairman of the Board."

According to the press release, if appointed, his new role will enable him to make decisions concerning the company's upcoming media rights negotiations as well as a full review of the company's strategic alternatives.

"Mr. McMahon's new role will enable unified decision making through the Company's upcoming media rights negotiations and a parallel full review of the Company's strategic alternatives, which Mr. McMahon believes is the right course of action and in the best interests of WWE and WWE shareholders amidst the current dynamics in the media and entertainment industry."

The press release indicates that many companies are "seeking to own the intellectual property on their platforms." Mr. McMahon also states that the only way for WWE to go forward with the media rights deal and the sale of the company is by reinstating him as Executive Chairman.

"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."

Vince McMahon sent two letters to the board of directors in december expressing the urgency for him to return as Executive Chairman in order to help maximize value for all shareholders.

"Prior to delivering written consent, Mr. McMahon sent two separate letters to the Board in late December in which he expressed the urgency of his return to the Company as Executive Chairman and his desire to work collaboratively with the Board and management team."

"Following conversations with representatives of the Company both before and after Mr. McMahon's most recent letter on December 31, Mr. McMahon determined, consistent with his rights as controlling shareholder, that the steps announced today are necessary to maximize value for all WWE shareholders.

It looks like Vince McMahon has made his intentions clear that he wants to return as Chairman of the company. We will have to wait and see if WWE decides to give in to his demands.

Do you think Vince McMahon will return to the company? Let us know in the comments section.