WWE officials held their “all hands on deck” meeting at company HQ this afternoon, but this was not a talent meeting. The meeting was held via call.
The meeting was held to address Vince McMahon’s return to the WWE Board of Directors, and his plans to pursue a sale of the company. The meeting was originally scheduled to begin at 3:30pm ET, but it didn’t start until 3:45pm ET, and ran for around 10 minutes. WWE Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan, and President & CFO Frank A. Riddick III, led the call.
It was announced that McMahon is officially back on the Board of Directors, but it was reiterated that there will be no changes to management or their responsibilities at this time, according to PWInsider. Fightful Select adds that it was stressed to employees that the day-to-day operations across the company are not changing.
It was also pushed that the move with Vince was a big positive and was made to give the company everything they needed to make the most of their future rights revenue sales, such as the new TV deals for RAW and SmackDown, among others, as well as to gauge the market for a potential sale of the company with the idea that with McMahon back, the entire company would be on the same page in maximizing WWE’s potential leading into the future.
The idea is that they would be looking at potential sale offers ahead of any rights fees negotiations, in case that would be a greater benefit, such as it being more lucrative financially, instead of another round of just selling TV rights. However, it was also greatly emphasized that a sale of th company may not happen and it should not be assumed a sale will happen. The final say in all of this would go to McMahon as he is the controlling shareholder.
It was also mentioned that a “possible avenue” for the company could be for them to be taken private again if it was “the best outcome for shareholders.” This was mentioned among potential strategic options, not that it was something they will be doing for sure.
The call was described as “very much a rah-rah meeting to try and raise the spirits of the troops,” but officials did not take questions from employees.
On a related note, we noted before that two members of the WWE Board of Directors resigned today – Ignace Lahoud and Man Jit Singh, and that Singh’s resignation was notable as he was the lead investigator in the Board’s recent investigation of the McMahon allegations. Word now is that Singh’s resignation was described by a WWE source as the “least shocking move” of the day as Singh, a former Sony executive, was said to have been very “by the books” and by all indications, he strongly reacted to all of the McMahon allegations that came out last summer, pushing for WWE to do their due diligence and investigate.
WWE’s SEC filing from earlier today noted how three members of the Board were removed to make room for McMahon, George Barrios, and Michelle Wilson. One of the three, Jeffrey R. Speed, was also a part of the investigation done last year.
There’s been a lot of speculation on McMahon possibly being at tonight’s SmackDown from Memphis, but word is that he will not be there. There were rumors among employees that Vince was at WWE HQ in Stamford earlier today, but it’s since been confirmed that he was not there. There have been rumors that Vince was seen at the WWE HQ gym for months, but no one would ever confirm those rumors.
To catch up, you can use the links below for the absolute latest on Vince’s WWE return and potential sale, his communications with the Board, statements from Stephanie, Khan, and WWE Chief Content Officer Triple H, and lots more.
Stay tuned to WrestlingHeadlines.com for more. Below are links to some of our recent reports on the ongoing situation:
FULL COVERAGE OF THE VINCE MCMAHON – JOHN LAURINAITIS ALLEGATIONS AND FALLOUT:
– Full Transcript from Today’s WWE Meeting Led By Stephanie McMahon, Nick Khan and Frank Riddick
– Backstage News from WWE Meeting, WWE Going Private Again?, Vince McMahon Notes, More
– WWE Holding Important Meeting Today, Wall Street Reacts to Vince McMahon’s Return to The Board
– Wall Street Reacts to Potential WWE Sale and Return of Vince McMahon
– Backstage Reactions to Vince McMahon Confirming His Plans for a WWE Return
– Vince McMahon Issues Statement and Details on Plans for WWE Return
– Vince McMahon Reportedly Planning WWE Return for a Major Sale
– Vince McMahon Scandal Hurt WWE’s Ability to Sell Sponsorships
– Backstage Talk on Vince McMahon’s Post-WWE Life
– WWE Says Vince McMahon’s Departure May Hurt the Company Creatively and Financially
– WWE Reveals $5 Million More In Payments Made By Vince McMahon
– Backstage Updates on WWE and John Laurinaitis, WWE’s Board of Directors Investigation
– Linda McMahon Comments on Vince McMahon’s WWE Retirement After Being Pressed By Reporter
– Vince McMahon WWE Stock Update, Vince’s WWE Ownership, Linda McMahon Note
– USA Network Looks Ahead to Big WWE Changes, USA on Fan Reactions to Triple H Taking Over Creative
– Top WWE Stars Jab at Vince McMahon’s Retirement on RAW
– What Triple H Promised to WWE Talents In Pre-RAW Backstage Meeting, More Backstage Notes
– Vince McMahon Facing Additional Investigations?, More on Vince’s Exit from WWE
– WWE Restates Financial Statements Due to Unrecorded Vince McMahon Expenses, Vince to Pay Money Back
– Backstage News on Brock Lesnar Working WWE SmackDown After Walking Out Earlier
– Stephanie McMahon and WWE Fans Send “Thank You” Message to Vince McMahon
– Read Vince McMahon’s Full Retirement Letter Sent to WWE Employees
– Brock Lesnar Officially Pulled from WWE SmackDown
– WWE to Replace Brock Lesnar at SummerSlam?, More on Lesnar’s Reaction to Vince McMahon’s Retirement
– Backstage News on Vince McMahon’s Retirement, Stephanie McMahon and Nick Khan’s New WWE Roles, More
– Brock Lesnar Reportedly Leaves SmackDown, Upset Over Vince McMahon’s WWE Retirement
– Vince McMahon Retires from WWE
– Triple H at WWE SmackDown, Backstage Talk on Triple H’s New Role, Bruce Prichard Update, More
– WWE Announces Triple H’s New Executive Role, Triple H Comments
– Netflix Reportedly Pulls Vince McMahon Project, Millions of Dollars Spent
– WWE Issues Internal Statement on Latest Vince McMahon Allegations
– Vince McMahon Reportedly Paid Millions of Dollars In “Hush Money” to Former Wrestler and Others
– News on Who Made the Decision to Name Stephanie McMahon as WWE’s Interim CEO & Chairwoman
– Stephanie McMahon Addresses Investigation Into Her Father During WWE HQ Meeting
– How Much Value WWE Has Lost Since Vince McMahon Scandal Broke, WWE Ratings Up Due to Buzz?
– WWE Now Facing Multiple Potential Class Action Lawsuits
– Vince McMahon Makes Surprise WWE RAW Appearance to Hype Big Return
– More Details On Vince McMahon’s Mood, Backstage Atmosphere At Friday’s WWE SmackDown
– Vince McMahon Opens Tonight’s WWE SmackDown, Video of the Segment
– Stephanie McMahon Sends Message to WWE Staff After Today’s Huge Announcement
– Vince McMahon Announced for WWE SmackDown
– Pat McAfee Reacts to Vince McMahon Allegations, Thinks We Will Never Get the Truth
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