Vince McMahon is back on the board of directors of WWE after retiring last summer amid allegations of sexual misconduct.
According to ESPN, McMahon remains the WWE’s majority shareholder.
On Friday, a filing with the U.S. Securities and Exchange Commission indicated that McMahon is now back on the board, along with former WWE co-presidents Michelle Wilson and George Barrios.
Vince McMahon Retiring As WWE’s CEO
“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 in a statement issued on Friday. “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.”
In a statement, McMahon explained his return was to guide the upcoming negotiations over WWE media rights.
“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,” McMahon said in his statement. “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.”
WWE Expects To Spend ‘$10 Million This Year’ On Internal Vince McMahon Investigation
As ESPN notes, WWE’s current rights deals with the Fox and USA networks will expire next year.
“WWE has an exceptional management team in place,” McMahon added, “and I do not intend for my return to have any impact on their roles, duties, or responsibilities.”