Vince McMahon Could Be Done with WWE in 2024?

Mar 26, 2020 - by James Walsh

Bloomberg (via Yahoo! Finance) published an editorial report by Tara Lachapelle on the current financial problems the WWE and Vince McMahon are facing, noting that the WWE’s stock shares have dropped 40% since December 2019. 

Additionally, the article details how Vince McMahon is agreeing to sell some of his WWE stocks in March 2024 and receiving money for that deal now. This will allow McMahon to free up funds for right now without relinquishing control over WWE for the time being, so the deal is like getting a cash advance from a bank. 

Bloomberg News’ Drew Singer reported that Morgan Stanley Bank was involved in the deal, which is valued at 2.26 million shares, representing over $80 million in freed-up liquidity. The report notes that the deal will not affect McMahon’s other 25 million Class B shares, which come out to 70 percent of the company’s total voting power. 

The article notes the litany of problems WWE has been facing lately, from the John Oliver story, WWE continuing to put on shows during the coronavirus pandemic, WrestleMania 36 being held in front of an empty audience, the return of the XFL by Vince McMahon having its season end prematurely, and the company’s plummeting stock. Despite Vince McMahon long being opposed to selling the company, the article states that due to WWE’s current financial situation and the outlook for traditional cable networks “souring,” now “may be the time” for buyers to attempt to try and buy out the company from McMahon. 

Leave a Reply