WWE Raw will air live tonight on the USA Network, and emanate from the Heritage Bank Center in Cincinnati, Ohio.
With the 2023 Royal Rumble rapidly approaching on the calendar, we will likely hear of more entrants throwing their hats in the ring as a part of both men’s and women’s Rumbles. Additionally, “Raw” will celebrate its 30th anniversary next Monday night, so further details about that show are expected to be announced.
The recent return of Vince McMahon to WWE has had immediate ripple effects within the company. Few of these developments thus far are much bigger than the resignation of Stephanie McMahon from her executive duties on January 10. The departure comes after a hectic year for Stephanie, who announced a leave of absence last May only to return to an executive position two months later when her father initially announced his retirement.
The resignation of Stephanie may have sparked concerns regarding the company’s executive office moving forward, according to Bill Simmons and Ariel Helwani, who spoke about the subject on a recent episode of “The Bill Simmons Podcast.” When talking about the first event he went to following Vince’s departure, Helwani was quick to mention how beloved Stephanie was as a leader. “It was like these clouds had opened up,” Helwani recalled. “Everyone’s spirits are high, no one says a bad thing about Stephanie. It’s a remarkable thing, nobody speaks badly of her. Everyone seems to respect her tremendously.”
Helwani then mentioned that he fears that this departure will return the culture to what it was before Stephanie’s time as co-CEO alongside Nick Khan. However, Helwani does have faith in Khan and Paul Levesque, who are still working in the company’s executive office as of right now.
Returning to the subject of Stephanie McMahon, both Simmons and Helwani consider her resignation a “bad sign” for the company. “She’s so likable and respected,” Helwani complimented. “She is the quintessential businesswoman.” When speculating what might be next for Stephanie, Helwani believes that she has the potential to do more if she desires to. “If she decides to do something… imagine a media company run by [Stephanie]. I feel like she’d be successful in whatever she does.”
Source: Wrestling Inc.
Earlier this week, Stephanie McMahon announced her resignation as co-CEO and Chairwoman of WWE. Now, just a few short days later, McMahon is seemingly putting her newly-acquired free time to good use in order to deal with a health issue.
In a post shared on social media, she disclosed that her week involved getting ankle surgery, writing, “Busy week! Thank you Dr. Waldrop, @AndrewsSportMed and the Orthopaedic Center Staff for fixing my ankle! And to Kevin Wilk @ChampionSportsM for already getting me started on rehab! (And of course to my amazing caregiver @TripleH) #RoadtoRecovery.” Additionally, she shared a photo of herself waving from a hospital bed while also attaching a picture of her right leg wrapped in a cast. The extent of her ankle injury was not disclosed.
Plenty of well-wishes came pouring in, with current “NXT” Tag Team Champion Kofi Kingston, in particular, understanding her current plight. “He fixed my ankle, too! You are [in] great hands! Godspeed on your recovery!”
McMahon’s resignation followed soon after her father, Vince McMahon, reinstated himself to WWE’s Board, along with former WWE executives George Barrios and Michelle Wilson. McMahon had initially stepped away from the company in May 2022 to take a leave of absence. However, her sabbatical was cut short when she was abruptly thrust back into action and named interim Chairwoman and CEO of WWE amid sexual misconduct allegations involving her dad that prompted him to step aside and retire. Within two months, the interim label was off, and she had officially been appointed Chairwoman and Co-CEO, sharing the latter duties with Nick Khan.
Source: Wrestling Inc.
WWE SmackDown will air live tonight on FOX, and emanate from the Resch Center in Green Bay, Wisconsin.
Tony and Shahid Khan are reportedly interested in purchasing WWE.
CNBC is reporting that several sources familiar with the situation have confirmed that the Khans are interested in merging AEW and WWE.
The report notes that the Khans would be willing to team up with a media company for the IP, which would result in a merger of WWE and AEW.
While Tony and Shahid have not spoken with Vince McMahon or Nick Khan at this point, it was noted that McMahon may not be interested in speaking with them at all. The idea is said to be “a long shot.”
Once again – no discussions between the Khans and WWE have taken place at this point. For what it’s worth, Shahid Khan has a net worth of $7.56 billion.
Source: ewrestlingnews
Stephanie McMahon and Triple H are reportedly against a sale of WWE.
It was announced on Tuesday that Stephanie submitted her resignation from WWE after her father, Vince McMahon, was unanimously re-elected as Executive Chairman to the company’s Board of Directors.
According to a report from Axios, there was some serious opposition from Triple H, Stephanie McMahon, and others on a potential sale of WWE.
The report notes that Stephanie and Triple H “had opposed a sale,” with some believing Stephanie’s resignation had to do with her father taking charge of the company. While Stephanie and Triple H won’t comment publicly, it’s said that they are both fuming in private.
Saudi Arabia’s Public Investment Fund, Endeavor, Disney, Warner Bros. Discovery, Netflix, Shahid and Tony Khan, and others are interested in purchasing the company.
Source: ewrestlingnews
There had been rumors online earlier this week Saudi Arabia’s Public Investment Fund had purchased WWE. That is not the case, but the fund is among the names interested in buying WWE.
This all comes shortly after Vince McMahon’s return as Executive Chairman of the Board and him wanting to be part of selling the company. Since then, WWE has hired Raine Group to help lead WWE’s potential sale.
It was reported by Dave Meltzer in the Wrestling Observer Newsletter that Saudi Arabian investment isn’t even the favorite to make the purchase.
He wrote, “Those at WWE said that Saudi Arabia was in the running but not the favorite.”
Source: ewrestlingnews
Earlier this week, Stephanie McMahon resigned from WWE, just days after her father, Vince, had returned to the company. Reportedly, the two did not work great together.
Vince made his WWE return by bringing two new Board Of Directors members with him and removing three from the WWE Board. This was done to make room for himself and the two new Board members.
Stephanie resigned from all positions on top of this, meaning WWE Board has quickly changed pretty drastically.
According to Dave Meltzer in the Wrestling Observer Newsletter, Stephanie and Vince have had some issues working together:
“It was also conceded that she and Vince did have issues in working together as family members and how Khan was a buffer who kept things smooth between them as well as between Vince and Levesque.”
Vince’s main reason for coming back to WWE is said to be because he plans to spearhead a WWE sale. Stephanie and Paul Levesque (Triple H) reportedly had opposed a sale.
Source: ewrestlingnews
Stephanie McMahon made waves through the professional wrestling world on Tuesday when she announced that she had stepped down from her post as Co-CEO of WWE following the reinstatement of Vince McMahon as Executive Chairman of the company’s Board of Directors.
A report filed by the Securities and Exchange Commission on January 11 has now helped to shed some light on the timeline of how the events went down, stating that Vince had been elected as Executive Chairman on January 9 while Stephanie was still a member of the board. Following the reinstatement, Stephanie “ceased to be Chairwoman of the Board” and handed in her resignation the following day, which led to Nick Khan “[assuming] the role of sole Chief Executive Officer of the company.”
The SEC report also noted that Michelle McKenna, Steve Koonin, and Steve Pamon were the current individuals that made up the Audit Committee, the Governance and Nominating Committee, and the Compensation and Human Capital Committee. McKenna and Koonin were selected by the Board to serve on the Audit Committee and the Governance and Nominating Committee on the same day McMahon was reinstated while McKenna and Pamon were also chosen to serve on the Compensation and Human Capital Committee. Pamon, Koonin, and McKenna have been members of the Board since September 1, 2020, June 1, 2021, and September 16, 2022, respectively.
Stephanie was named Co-CEO of WWE and Co-Chair of the Board (alongside Khan) in July of last year after Vince announced his retirement following multiple allegations of sexual misconduct and harassment.
Source: Wrestling Inc.
It was revealed in an SEC filing on Wednesday, the reason for Ignace Lahoud and Man Jit Singh resigning from the WWE Board of Director is they both disagreed with the return of Vince McMahon.
“While Messrs. Lahoud and Singh agreed with the Board’s decision to explore the Company’s strategic alternatives, they did not agree with Mr. McMahon’s return at this time.”
According to the SEC filing, WWE expects to have the Board “comprised of a majority of independent directors” by January 30th per the requirements and rules of the New York Stock Exchange.
Vince McMahon officially returned to the WWE Board of Directors last Friday and was re-appointed Executive Chairman this past Tuesday. Soon after, his McMahon’s daughter Stephanie resigned as Co-CEO., leaving Nick Khan as the sole CEO of the company.
A WWE shareholder Scott Fellows has filed a class action lawsuit Tuesday against the newly-reinstated Executive Chairman Vince McMahon. The suit was filed in Delaware’s Chancery Court.
Fellows is claiming breach of fiduciary duty in line with section 141 of Delaware’s current General Corporation Law. Fellows suit is looking for the invalidation of the bylaw changes made by McMahon after he returned to the company’s Board of Directors last Friday, in addition to costs and other fees.
Fellows is also accusing McMahon of using his 81% company voting control to remove three board members and replace them with his own hand-picked members and pushing through the aforementioned bylaw changes which includes giving himself (McMahon), the final say on any sale or media rights agreements.
The suit states that McMahon violated Delaware law by taking control over any major WWE corporate decision and “adding his cronies to the Board.”
Source: WrestleView
