WWE Rumors: Backstage Update On Vince McMahon Possibly Selling Company
WWE has experienced some changes over the past few days, which has fueled rumors that Vince McMahon is preparing to sell the company to the highest bidder. However, a new revelation courtesy of Sportskeeda‘s Tom Colohue suggests the chairman isn’t willing to let go of the promotion just yet.
“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.”
According to Colohue, McMahon is only likely selling the 49 percent share of the company which he does not control. As far as his daughter Stephanie and her husband Triple H are concerned, their ambitions for the future of WWE aren’t clear at this time.
As The Inquisitr reported yesterday, WWE co-presidents George Barrios and Michelle Wilson were both fired from the company amid a backstage reshuffle. The decision resulted in the promotion losing $1 billion in corporate earnings, marking its biggest stock decline in nearly six years. As such, Wall Street has reportedly lost faith in WWE as a valuable asset.
This doesn’t spell the death of WWE by any means, but it does make the future seem quite uncertain. Furthermore, this isn’t the first time that the promotion’s future ownership has been the source of speculation, either. Last year, McMahon told Variety that he’s always open to doing business with potential buyers, leading many to believe that he was looking to sell his sports entertainment empire.
Here. Comes. THE CHAIRMAN! #RAW @VinceMcMahon pic.twitter.com/aVIB3ADZlE
— WWE (@WWE) March 15, 2016
With McMahon set to focus his attention on the rebooted XFL later this year, he is expected to delegate more control to his executives. It remains to be seen how involved the chairman will be with WWE when his football league takes off. However, more power is expected to be entrusted to Paul Heyman, Bruce Prichard, Triple H, and Stephanie McMahon in the coming months.
McMahon essentially built WWE from scratch, so if he ever does decide to sell the company, it will be very surprising. After all, WWE is his brainchild, and he’s overseen every capacity of it for decades.
