Wrestling Roundup: Lawsuits against WWE may put McMahon’s board spot in jeopardy

Wrestling Roundup
Wrestling Roundup | Photo Credit: WWE

The WWE has been the talk of the wrestling industry over the last couple months with the potential of a sale. Though none has been made as of yet, Vince McMahon is open to leaving WWE for good. Here’s the latest Wrestling Roundup:

Sale of WWE

A potential sale of the WWE has been rumored since Vince made his return to the company he created, and while there were rumors that one had been made it was further proved not true. In the midst, of McMahon’s return his daughter, Stephanie McMahon, stepped down from her role as Co-CEO. While McMahon is still letting his son-in-law, Paul ‘Triple H’ Levesque, be in creative control, the former is still the WWE’s controlling shareholder.

“Vince has declared to the board he’s 100% open to transactions where he’s not included in the company moving forward,” Khan said in a CNBC interview Friday.

The return of McMahon was so that he could be directly involved with all sales negotiations. The company has also hired financial advisors to help with the process. Current CEO, Nick Khan has predicted that a sale may take up to three months. The Potential buyers may include Comcast, Netflix, Liberty Media, or Endeavor which currently owns UFC.

“We feel the marketplace is robust for our product,” Khan said. “It’s in essence it’s own sports league. Someone can buy it and put it on their platform.”

McMahon’s board spot

Dennis Palkon is suing the WWE for the organization’s investigation against the owner, Vince McMahon. Before the latter stepped away there were allegations that claimed the 77-year-old “raped and sexually assaulted employees and contractors over the course of decades.” After which reports came out that McMahon paid $12 million in “hush money.”

“There are serious questions about how Vince McMahon obtained and delivered those funds to his victims,” the complaint reads, via Bloomberg Law

After the allegations came, McMahon quickly retired in July, but returned to his executive chairman position on the WWE’s board of directors in December.

“Vince McMahon removed three independent directors and reappointed himself, as well as two of his longtime cronies,” the lawsuit said. “The apparent misconduct here is both myriad and extremely serious.”

Palkon’s case seeks the WWE’s investigative documents in order to find any fiduciary breach allegations. If the breach exists, then the plaintiff intends to do what the board couldn’t, which is “to bar Vince McMahon from ever serving on the WWE board again.”

Chelsea Green and Matt Cardona

Chelsea Green
(Phot Credit: Instagram)

Green made her long-awaited WWE return at the 2023 Royal Rumble and even though she was quickly eliminated, Cardona couldn’t be more proud.

“I’m super proud of Chelsea Green, super happy for her to go back to WWE. She needed to go back,” Matt Cardona said. “I mean, she didn’t even have a cup of coffee there. She had like a Keurig pod and the Keurig and didn’t even press brew. You know what I’m saying? She didn’t have a taste. She has to go there, and she’s a superstar, and now the whole world’s gonna know now.”

While there have only been teases that Cardona would return with Green, the latter said she had unfinished business before she officially signed her contract back in November.

“I have unfinished business at WWE, period. But I would go into it totally different than I did the last time, and I think that’s also the beauty of growing up. I have other goals in life now and at some point, I want to start a family,” Green said. “It would be nice to close the WWE chapter with another run or another storyline, but that’s not my choice. That’s theirs.”

AEW fueled by Tony Khan’s wrestling obsession

Tony Khan
(From left) Khan backstage; fans at an AEW event.Photographer: Jake Holler for Bloomberg Businessweek

All Elite Wrestling was created just four years ago, and has operated as an upstart rival of World Wrestling Entertainment (WWE). The former company has deployed its own brand of pre-determined matches to draw in a crowd. The formula has at times included more blood spilled, more folding chairs smashed, more swearing and more nuanced storylines.

Khan, who has the energy of a teenager has created potentially the most well-funded company to rival the WWE in decades. His father Shadid Khan owns the National Football League’s Jacksonville Jaguars and the English Premier League’s Fulham FC. Though, the younger Khan’s success with AEW has been fueled by his love of Wrestling. When he first told his father, he wanted to rival the WWE, he thought he was crazy but Nick Khan has seen many top talents come to the new company.

Other Wrestling Roundup news:

  • Bray Wyatt has always created some very interesting storylines. At the Royal Rumble, he finally made his long-awaited televised in-ring performance. However, it appears he is now being blasted for ruining professional wrestling.
  • At the Royal Rumble, Sami Zayn finally turned on ‘The Bloodline’ after he watched the group beat down his best friend Kevin Owens. Not only did Zayn get the pop he deserved, but, when Jimmy Uso, Solo Sikoa, and Roman Reigns turned their eyes to Zayn and beat him up, Jey Uso didn’t help. Later posting to Instagram that he wanted to run it back with Roman Reigns. Will Jey Uso join forces with Sami and Kevin or will he fall back in line?
  • Impact Wrestling has signed a recently released WWE superstar, the former Fandango, who now wrestles under the ring name Dirty Dango and has been featured on Impact multiple times. Though, he made his debut at Bound for Glory.

TL//DR: Wrestling Roundup

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