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Rumors: Is Vince McMahon interested in buying back WWE? Vince Russo reveals MAJOR details
Ex-Chairman and CEO of WWE, Vince McMahon is speculated to purchase the company, making himself the major decision maker. Vince Russo shares how he can do so.
In 2024, American businessman Vince McMahon stepped down as the CEO of WWE after a former employee, Janel Grant, filed a lawsuit against him. She accused him of abuse and s*xual assault, after which McMahon denied the allegations and also released a statement calling her lawsuit a lie. Lately, there have been rumours that the former CEO wants to be back in the WWE business and now, former WWE head writer Vince Russo has opened up about such a possibility.
In an exclusive interview with Sportskeeda, Vince Russo said that McMahon wouldn't have to use his own money if he plans to purchase the company from TKO Group Holdings. He also criticized a few media outlets for underlining that McMahon would have to pay himself for buying back WWE. Further, Russo stressed the fact that the former CEO's comeback is backed by McMahon's strong connections in Saudi Arabia and wealthy personalities, who are willing to invest in his vision.
"I was actually reading something from Sapp, stating that Vince McMahon wouldn't have the money. Does he not understand Vince has a relationship with the Saudis? Vince has access to billions and billions of dollars and Ross Sapp is looking at Vince taking money out of his own pocket to buy WWE? They have no concept of business, whatsoever," Russo told the portal.
For the uninitiated, Vince McMahon kept his profile low as he dealt with the Janel lawsuit to clear his name from the controversy. Meanwhile, he hit the headlines owing to his latest business venture. The veteran promoter recently made the public aware of his intentions to return to the sports and entertainment business by launching a new company, 14TH & I. Reportedly, he filed three limited liability companies, signaling to venturing into different entities.
Well, Vince McMahon still owns part of TKO Group Holdings but the major decision maker is not him. This is because the amount of his share is quite similar to what other big investors, like the Vanguard Group, own. Hence, it goes without saying that the majority ownership and real control of the company lie in the hands of much larger groups. Big corporate players like Endeavor, Silver Lake Equity Partners, and businessman Egon Durban together own more than 60% of TKO.
Talking about the progress report card of WWE after McMahon resigned from his post, the company has continued to achieve new milestones. Be it live event attendance, merchandise sales, or viewership ratings, WWE has reported record-breaking numbers. All such factors have contributed to the market valuation of the company, and hence it has witnessed a significant rise.
Nevertheless, whether Vince McMahon buys WWE back or not is still something that has not been confirmed.
Stay tuned to Pinkvilla for more updates!
