Folks, it's official: Vince McMahon has un-retired from the WWE and is returning to his former spot as the Executive Chairman of the company's board.
…but what exactly does that mean? Will Vinny Mac be back on the headset in Gorilla barking orders to Michael Cole and reprimanding him any time he calls a “sports entertainer” a wrestler? Will he remain out of the day-to-day operations of the company but still impose his booking philosophies on Paul “Triple H” Levesque and company, like rarely giving a clean finish on television or booking the same matches over and over again? Goodness, will the company start firing performers again to maximize profits, leaving the likes of Tegan Knox, Hit Row, and Karrion Kross back on the streets?
Making sense of WWE's new structure with Vince McMahon back.
Fortunately, WWE released a statement from the recently re-instated Chairman. Unfortunately, he doesn't provide much additional info.
“WWE is entering a critical juncture in its history with the upcoming media rights negotiations coinciding with increased industry-wide demand for quality content and live events and with more companies seeking to own the intellectual property on their platforms,” said Mr. McMahon said to PR News Wire. “The only way for WWE to fully capitalize on this opportunity is for me to return as Executive Chairman and support the management team in the negotiations for our media rights and to combine that with a review of strategic alternatives. My return will allow WWE, as well as any transaction counterparties, to engage in these processes knowing they will have the support of the controlling shareholder.”
So, McMahon is returning to WWE to either maximize the deal they get for the television rights of RAW and SmackDown, or to facilitate selling the company he purchased from his father and turned into a billion-dollar outfit? That's… wow. But that doesn't necessarily say anything about McMahon's interest in the book. Did the company release any info on its creative structure moving forward? Fortunately, Mr. McMahon provided a nugget of info into that too. In a way, yes.
“Ms. Wilson and Mr. Barrios are highly qualified directors whose professional experience positions them well to help the Company achieve the best possible outcomes in both initiatives,” McMahon added. “As former WWE Co-Presidents and Board members, they are intimately familiar with industry dynamics and the organization's operations and have helped guide the Company through past successful media rights negotiations. I look forward to working closely again with Michelle and George – as well as the Company's remaining directors and management team, who have my full support and confidence. WWE has an exceptional management team in place, and I do not intend for my return to have any impact on their roles, duties, or responsibilities.”
Alright, so per McMahon, he does not intend for his return to have any impact on the management team he had in place, which presumably means Co-CEOs Nick Khan and Stephanie McMahon and CCO Paul “Triple H” Levesque. On paper – or in an official statement – that's a good start, but just because Mr. McMahon feels that way right now doesn't mean that couldn't change in a day, week, month, or, really, whenever he feels like it, right? Maybe he gets wind of who Levesque wants to have defeat Roman Reigns and opts to reverse course, or maybe he just sends smaller guys like Mustafa Ali and Ricochet back to the back because they don't fit what he feels a professional wrestler should look like.
Either way, the joint statement issued by Stephanie, Khan, and Levesque did issue a statement of their own, but it had more to do with shareholder value than the in-ring product.
“Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said Chairwoman & Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. “We also welcome back Michelle Wilson and George Barrios to our Board of Directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”
Now, as NBC Sports pointed out, the decision to bring back McMahon did actually have an impact on the shareholder value, as the company's stock jumped 20 percent after the big announcement, but who's to say that will last? WWE is in the middle of one of the best periods of their last decade from a booking standpoint, with folks regularly putting Levesque in the Booker of the Year conversation. While increased stock prices are useful in a sale of the company, negotiating when public will is ill and weekly viewers are dropping as a result might not be the best idea.
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