WWE stock jumped in after-market trading following the news on former WWE Champion & CEO Vince McMahon is planning his return to the company for a potential sale.
WWE stock opened at $70.31 and then closed at $72.04 at 4pm ET today. In after-hours trading, the stock is currently up 11.40% as of this writing, at $80.25 per share. The current 52-week high for the stock is $81.63.
Wall Street is obviously excited about McMahon exploring a potential sale of the company, despite the controversy surrounding him.
As reported back in mid-December, The Wall Street Journal revealed that McMahon told people he plans to make a comeback at WWE an that he received bad advice from people close to him to step down back in July, and that he now believes the allegations and investigations would have blown over had he stayed, according to these people. It was then reported today that McMahon has made the first steps to make his return to the company as he is looking to help lead a sale, and that he is looking to bring on former WWE Co-Presidents Michelle Wilson and George Barrios to help, who were shockingly let go in early 2020. Shortly after that report broke, McMahon issued a press release to confirm his plans for a return, with a statement and more details. You can click here for the mid-December report that included details on Vince’s recent responses to two accusers, you can click here for today’s report on Vince’s comeback plans for the potential sale, which includes the reported response from the WWE Board of Directors and how they feel about a possible return, and you can click here for the report on Vince’s press release.
As we’ve noted, it was initially revealed on Wednesday, June 15 that WWE’s Board of Directors had been investigating then-Chairman & CEO Vince over the “secret $3 million settlement” he made to a former paralegal that was hired in 2019. Then-Talent Relations head Laurinaitis was also being investigated for his involvement, and it was revealed that the Board had been looking into other instances with former female employees as well. It was then announced on Friday, June 17 that Stephanie McMahon returned from her leave of absence to act as the Interim CEO & Interim Chairwoman after Vince voluntarily stepped away from his Chairman & CEO corporate duties, while still continuing his creative responsibilities, at least at that time. It was then revealed on Monday, June 20 that Bruce Prichard, WWE’s Senior Vice President and RAW/SmackDown Executive Producer, was working as the Interim Senior Vice President of Talent Relations, filling in for Laurinaitis during the investigation. It was then revealed on Friday, July 8, that McMahon agreed to pay more than $12 million in “hush money” to four women, including a former wrestler, as another round of allegations were made public. Prichard is no longer working the interim role as WWE announced on July 22 that Triple H is the new WWE Executive Vice President of Talent Relations. Vince’s retirement was announced hours after Triple H’s new role was announced, and Vince was the first to confirm that Stephanie is the new Chairwoman & Co-CEO, along with Co-CEO Nick Khan. Laurinaitis was also confirmed to be gone from the company. WWE announced on July 25 that Triple H is also the new head of creative, and his title was upgraded to WWE Chief Content Officer. There have also been additional promotions and corporate changes since then. WWE also announced on July 25 that previous financial statements were being revised due to “certain unrecorded expenses” by Vince, in the amount of $14.6 million, which are the payouts to various women. WWE noted then that Vince was personally re-paying the amount. It was also revealed on July 25 that the federal government is investigating the McMahon payouts. It was then revealed on August 9 that another $5 million in payments was made by McMahon, and he will be paying that money back to the company like the previous payments. You can find full details at the links below, including statements from Vince and Stephanie, full details on the anonymous e-mails that led to the investigations, the “hush money” pacts, and more, along with recent WWE comments on how the scandal hurt the company, and comments on the end of the Special Committee investigation.
Stay tuned to WrestlingHeadlines.com for more. Below are links to some of our recent reports on the McMahon – Laurinaitis situation:
FULL COVERAGE OF THE VINCE MCMAHON – JOHN LAURINAITIS ALLEGATIONS AND FALLOUT:
– 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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