Vince McMahon officially returned to the WWE as a member of its board of directors last Friday. News that McMahon is looking to make a comeback at the company (believing his legal issues and investigations from SEC and federal prosecutors would “blow over”) broke through the US last month. Wall Street Journal. McMahon approached the board last month demanding that he, Michelle Wilson and George Barrios be reinstated, become executive chairman and oversee the next round of media rights negotiations and a possible sale from the company.
The WWE Board of Directors initially unanimously rejected Vince’s proposal, but McMahon responded by stating that he would use his voting rights through his Class B shares to block media rights deals or an attempted sale if his demands were not met . His return was announced the following day. McMahon claimed in his press release that he had no intention of influencing WWE’s day-to-day operations or taking over other positions, but many insiders were immediately skeptical of that claim.
“The only way for WWE to fully capitalize on this opportunity is to return as Executive Chairman and support the management team in negotiating our media rights and combine that with an assessment of strategic alternatives. Through my return, WWE will, as and all counterparties to transactions, to participate in these processes with the knowledge that they will have the support of the controlling shareholder,” McMahon’s statement said.
“WWE has an exceptional management team and I do not intend my return to affect their roles, duties or responsibilities in any way,” he later added.
However, there is at least a first sign that McMahon is keeping his word on that front. According to Dave Meltzer, McMahon is not expected to return to WWE headquarters in Stamford or weekly television shoots.
“It is said that he is not. It is said that he does not even return to his office. We’ll see how long that takes,” Meltzer said. Between his right to vote and his (presumed) position as chairman, there’s little stopping him from taking over WWE’s booking again. Stay tuned for more updates.