As reported earlier, WWE’s corporate situation is not that much for the first time since the company has become global. After eleven years of serving, the Co-Presidents George Barrios and Michelle Wilson are no longer a part of the company.
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They will no longer serve on the Board of Directors as Vince McMahon fired them from their posts. Thus two of the visionary heads won’t be around The Boss anymore.
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Following these departures, WWE stock price fell down as Bloomberg reported that WWE has lost over $1 billion in market value over the past few days. WWE’s stock fell down 28% and Loop Capital’s Alan Gould reports that WWE now has “diminished confidence”. The follow-up reports indicated even worse things.
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Under this current situation and assuming that Vince McMahon’s dream XFL Project’s launch date inching closer, there’s a rumor going on that he might be going to sell WWE. This was a suggestion that The Boss may be willing to move out of the wrestling business.
There were already some heavy rumors with WWE probably approaching to Disney for a potential buyout option. Thankfully, this is not true as stated by Tom Colohue.
The trusted journalist said that there’s no way that Vince McMahon will be selling his brainchild that is WWE, (courtesy wwfoldschool.com)
“One of the rumors going around as per this particular topic is that there is an intention to sell WWE and that Vince McMahon wants to move full time out of wrestling as well as Triple H and Stephanie McMahon.
To my knowledge, this is considerably wide off the mark. Vince McMahon, from everything I’ve been told, as much as he’s stepping back from the day-to-day running, and brought in Executive Directors for that reason so that he could work on the XFL, Vince McMahon will never truly relinquish control of the WWE.
I have absolute faith in that. If there’s a sale coming, it will be a sale of the 49% that he does not control.”
The general belief is that Triple H and Stephanie McMahon are the two names who could become the successor of Vince McMahon. However, the stock market won’t be depending on them and hence they are not trustworthy. At present, the search for the fired co-presidents continues as WWE tries to upscale their stocks again.
