Vince McMahon is one of the most controversial figures in the wrestling world and has earned a reputation as one of the most infamous figures in the industry. Last year, McMahon resigned from WWE after several controversial allegations of hush money rose against him.
After McMahon’s resignation from WWE, his daughter, son-in-law, and Nick Khan took over the company. While Nick Khan and Stephanie McMahon became Co-CEO of the company, Triple H became the Chief Content Officer. However, the wrestling world saw some latest unfolding.
Recently, the wrestling world saw some major developments, as former CEO Vince McMahon made his way back into WWE. Wall Street Journal reported that after the allegations against his hush money payments silenced down a little, McMahon crawled his way back into WWE.
However, as McMahon made his way into WWE, recent rumors have taken place of McMahon selling off the company to the Saudi Arabians. As per Mike Leonard of Bloomberg Law, a lawsuit has been filed against McMahon.
The lawsuit has been filed in the state of Delaware. accusing him of using his majority voting power to sack three members of the board, and replaced them with people loyal to him. The lawsuit also accuses him of pushing through changes that would impose his will on the company.
A class action lawsuit has been launched against Vince McMahon.
— Moonlight Graham 🌙✨ (@ReeceKelleyG) January 11, 2023
A shareholder is suing McMahon in Delaware, accusing him of wielding his ~81% voting control to impose his will on $WWE illegally. Cites board changes, threats to interfere w/ media rights.https://t.co/AN8ApJMuOK pic.twitter.com/cKhkG8WCDg
Vince McMahon retired last year after allegations of him paying $3million to a former female employee after a series of sexual misconducts rose against him. The investigation also uncovered multiple claims to misconduct against McMahon and Laurinitis, by various female employees.
Vince McMahon’s return to WWE was not wanted by many
After a hiatus of around 6 months, Vince McMahon made his way to WWE. However, as soon as McMahon’s return was announced on 6th January, Brandon Thurston posted a screenshot of an Email from the WWE Board of directors. The email clearly was in protest of McMahon’s return to WWE.
"…it is unfortunate that the Board would seek to use this conclusion to attempt to extract an agreement from me not to return to the Company. Any construct along these lines is entirely unacceptable, especially in light of the critical inflection points now facing the Company."
— Brandon Thurston (@BrandonThurston) January 6, 2023
As soon as he joined, he hired back former co-presidents Michelle Wilson and George Barrios to the board. However, his way back onto the board saw the termination of two other employees, and the resignation of Stephanie McMahon. McMahon re-joined the board to oversee the sell of WWE to a Saudi Arabian company.
This major move by McMahon and his decision to sell the company attracted major criticism from the fans and the critics alike. Along with that, his daughter’s resignation also became a talking point. Currently, Nick Khan is the sole CEO of the company, while Triple H handles the content. McMahon currently serves on the board as well as is the chairman of the company.
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