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Vince McMahon’s Evil Plan? Is He Trying to Sell $5.67 Billion WWE?

By: Rahul V Krishnan Image credit: WWE and Twitter

Former WWE CEO Vince McMahon has announced that he has returned to the WWE after leaving his role in the company last year.

The 77-year-old was forced to retire after the Wall Street Journal reported that the Billionaire allegedly paid millions of dollars as hush money to suppress sexual misconduct.

McMahon who is the majority stakeholder in the company announced that he is electing himself and two former co-presidents Michelle Wilson and George Barrios, to the board of directors.

The former WWE chairman announced that the main goal behind his return is to help lead rights fees negotiation and complete a potential sale of the company.

McMahon will return as the executive chairman and the shares of the company are up more than 70% and according to a CNBC report, the stock trades with a market capitalization of more than $6 billion.

The Stamford-based company on Friday said in a statement that it would be looking at "all strategic alternatives to maximize the shareholder value".

McMahon, who is the controlling shareholder of the company, removed JoEllen Lyons Dillon, Jeffrey R. Speed, and Alan M. Wexler from the board immediately after his arrival.

It'll be interesting to see what the future holds for the billion-dollar company following the arrival of its founder. The WWE fans are hoping that things go smoothly without causing any chaos.

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