Eric Bischoff is blown away by Vince McMahon’s return to the WWE Board of Directors.
The Hall of Famer spoke about this topic during the latest edition of his 83 Weeks podcast, where he broke down what he thinks Vince’s return could mean for the future of the company, and how it has nothing to do with the creative side that has since been taken over by Triple H. Highlights from the episode can be found below.
Doesn’t believe that Vince wants to return to the creative side:
I just can’t imagine that Vince’s primary focus right now is to jump back in the creative saddle. I mean there’s a ton on his plate, of a magnitude that I just don’t think even Vince McMahon, who notoriously works 20 hours a day, I think that would be a little bit much. I think Vince is gonna be focused on stability, particularly outward-facing stability, which is why I think he went to great lengths to acknowledge Nick Khan and Stephanie and Paul Levesque in their roles and assure everybody, he did three times in one press release, or maybe in different comments, whatever, there were three different occasions that Vince made a point to say, ‘Hey, Paul and Nick and Stephanie are doing a great job. All the confidence in the world in them. Nothing is going to change.’ If that’s true, I think showing up at TV would be, even just from perception-wise, even if he just showed up and hung around backstage, it wouldn’t add to the stability of the situation right now. Couple weeks, maybe, once things settle down. But right now, I can’t see it.
Recalls Vince making WWE a publicly traded company and whether this whole return is to regain control:
Absolutely. That’s why I said I just can’t see the primary motivation here, even a secondary motivation in this whole thing, and again, I’m setting myself up to be absolutely wrong because we’re talking about Vince McMahon. Vince McMahon is not your typical human being and not your typical business person. What would seem to make sense for most people may or may not apply to Vince here. The word we’ve used in the last minute or two is control. I think one thing we can all agree on, regardless of how we feel about Vince McMahon one way or the other, control has always been kind of the foundation upon which Vince McMahon operates. Go back to when he took the company public. I think your average person doesn’t necessarily understand , probably doesn’t even know that there are A shares and B shares. There are two different classes of shares. One class has voting rights. That’s the one Vince owns the majority of interest in, majority of shares. The other one is along for the ride. They don’t get to vote. I find it fascinating, among many other things, that Vince structured this company [this way] and was able to do so successfully.
Thinks Vince’s return is one of the most fascinating things that has happened in wrestling in over two decades:
I find it fascinating that Vince, so many years ago, took the company public and was able to do with the two classes or shares architecture, and be able to be so successful with it because that structure typically turns investors off. People are generally not inclined to throw a lot of their money into a company that they know they know they don’t have a voice in, unless it’s very successful. Initially, nobody knew if this public offering from WWE was gonna be a success. But the fact that he did it, and he set himself up to be in the position that he’s in, he has the ultimate hammer. I am so fascinated by all of this. Other than Musk and Twitter, I find this to be one of the most interesting things in media and business in the last 20-30 years. I can’t think of anything, that, in my opinion, is as interesting as this.
(H/T and transcribed by Fightful)