Less than one week after Vince McMahon came out of retirement and returned as a chairman, his daughter, Stephanie, has announced her resignation as co-CEO of WWE.
McMahon was the former chairwoman alongside co-CEO Nick Khan.
After McMahon stepped down, rumors started flying around that her father, Vince, is ready to sell the WWE to the Saudi Arabia Public Investment Fund.
Then. Now. Forever. Together. pic.twitter.com/8dqr5reIiv
— Stephanie McMahon (@StephMcMahon) January 10, 2023
Stephanie McMahon Officially Resigns
Stephanie McMahon took to Twitter to announce her retirement. Less than a year from returning from a leave of absence, McMahon came back to rescue the WWE after her father was pushed out due to a sexual harassment scandal.
Now, McMahon is confident that she will be leaving the WWE in good hands to drive maximum value for shareholders. With Vince back in the WWE boardroom, Nick Khan will control all the CEO duties and her husband Paul ‘Triple H’ Levesque is the chief of content officer.
In her statement, Stephanie McMahon said ”With Nick’s leadership and Paul ‘Triple H’ Levesque as chief content officer, I am confident WWE is in the perfect place to continue to provide unparalleled creative content and drive maximum value for shareholders”
Vince McMahon Returns to the WWE
Despite being forced into retirement in July due to allegations of sexual misconduct, Vince McMahon is back in the WWE. McMahon was forced to pay a non-disclosure agreement totaling up to $19.6 million of his own funds.
McMahon stated that he returned for a chance to “fully capitalize” on the WWE’s upcoming media rights negotiations. While shareholders may be wary of McMahon’s return, many insiders believe that he’s already signed the WWE away to the Saudi Arabia Public Investment Fund.
Rumors Fly About Sale of WWE To The Saudi Arabia Public Investment Fund
While it would be no surprise if McMahon sold the WWE, there hasn’t been confirmation of the sale yet. The sale of the company has been buzzing around for a while and with the WWE running shows in Saudi Arabia, rumors have started buzzing around the company.
However, there is no confirmation yet. Even before Stephanie McMahon announced her retirement, rumors were swirling that the sale of WWE to Saudi PIF was already complete.
While there is no official report, it seems like things are starting to line up.