Kevin Nash On Why Vince McMahon’s WWE Return Is Good For Shareholders
Vince McMahon retired from his executive positions with WWE amid a slew of sexual misconduct allegations last summer. The 77-year-old, who remained the majority owner, would make a sensational return to the company earlier this month by reinstating himself to WWE’s Board, later becoming Executive Chairman following the resignation of Stephanie McMahon as Chairwoman and Co-CEO. WWE Hall of Famer Kevin Nash has now weighed in with his thoughts on McMahon’s comeback, which is said to involve a potential sale of the promotion.
“The thing was, it wasn’t only to facilitate a sale, but it was to make sure that the stockholders got optimum bang for their buck,” Nash said on the “Kliq This” podcast, noting that he himself is a WWE shareholder. “The stock went up about twenty percent [upon the announcement of McMahon’s return].”
At 11 am EST today, WWE’s stock price was $88.29, which had increased from the $70.94 seen on January 5, just before McMahon announced his intention to return to WWE’s Board to pursue a sale and assist with upcoming media rights negotiations. To further prove Nash’s point, once McMahon’s objective was publicly known and his return was confirmed on January 6, WWE’s stock price soared to $85.36.
Regarding a potential sale, it’s said that several parties are interested in purchasing the company, with reports indicating that WWE hopes to have a deal wrapped up by the middle of the year. Rumors emerged that WWE had been sold to Saudi Arabia’s Public Investment Fund last week. However, this turned out to be wide of the mark. Nevertheless, Saudi’s PIF is supposedly in the running to purchase the promotion.
If you use any of the quotes in this article, please credit “Kliq This” with a h/t to Wrestling Inc. for the transcription.
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