Vince McMahon has reportedly been spotted back in WWE headquarters this week.
In a surprise move last year, Mr. McMahon, the long-time Chairman and CEO of World Wrestling Entertainment (WWE) announced his retirement amid sexual assault and hush money allegations. However, speculation surrounding McMahon's return to the company persisted in the months following his departure, with many critics and fans believing that he would eventually come back to the helm of the organization.
Those suspicions were confirmed when, just a couple of weeks ago, he returned to WWE. The announcement was met with mixed reactions, with some expressing excitement at his return while others questioned the decision in light of the previous allegations against him.
WWE later announced that McMahon would return to the company as Executive Chairman. This role would see him retain control over the company's operations while relinquishing his role as CEO. After his return, WWE announced that it would engage with outside advisors to review strategic alternatives.
However, since his return, Vince McMahon was absent from WWE headquarters until recently, when he was spotted at Titan Towers.
Since his return, there have been growing concerns about the company's creative direction. WWE recently held a talent meeting where it was confirmed that Triple H would be in charge of creative operations despite McMahon's return to the company.
Nick Khan also stated that Vince McMahon will not return to television "at the moment."
Various shareholders have filed lawsuits against Vince McMahon since his return
It's clear that the shareholders don't seem too excited that Vince is back in charge of the company. Since his return, a couple of members of the board of directors have resigned.
Even McMahon's daughter, Stephanie McMahon, recently handed in her resignation. Following his return, three shareholders filed a lawsuit against the Chairman.
The first share to sue Vince was Scott Fellows, who filed a class action lawsuit against Vince. He alleges that the Executive Chairman is trying to “hamstring the Board and prevent it from undertaking significant time-sensitive decisions respecting some of the most important properties of the Company” and that McMahon “has breached his fiduciary duties as a controlling stockholder.”
The second lawsuit was filed by the Detroit Police and Fire Retirement System and encouraged other shareholders to join the suit, potentially slowing down the company's sale.
The third lawsuit focuses more on his previous sexual misconduct allegations in that the plaintiffs a "mootness fee" because Vince reversed the bylaws amendments that leveraged his return to the board.
"Bloomberg references a 3rd shareholder lawsuit focusing on the sexual harassment allegations against Vince. The initial 2 plaintiffs are seeking a "mootness fee" because Vince reversed the bylaws amendments that leveraged his return to the board."
With WWE looking at potential buyers, it remains to be seen if and how these lawsuits could impact the sale of the company.
Are you happy that Vince McMahon is back in the WWE? Sound off in the comments section.
Was Bo Dallas better than Bray Wyatt? A WWE Hall of Famer said so here