After retiring in July 2022 as WWE CEO amid sexual misconduct and hush money allegations, Vince McMahon returned to the board in January 2023 to help with "strategic alternatives," which included a potential sale.
Many felt McMahon's return to the board was an attempt to make a bigger return to the overall operation of WWE, which included creative.
According to Nick Khan, that was not the case.
"When he came back, the term was for 'strategic alternatives.' He and I had a conversation, which he's comfortable with me sharing today, 'tell me, is this real, because there is some scuttlebutt out there that maybe this is just your way to come back into your company,' which he would have to do also. He said, 'I'm committed to it. I give you my word.' Raine was the lead banker on the transaction. Vince said he wanted a strong banker on it, that is a management decision, and the board would have representation as well. He gave me his word that he was serious about the process, lo and behold, he was serious about the process. The deal was finagled April 1 and announced April 3 before the market opened," Khan said at the MoffettNathanson's Inaugural Technology, Media, and Telecom Conference.
WWE sold to Endeavor and will merge with UFC to form a new publicly traded company by the end of 2023.
Elsewhere during the conference, Khan discussed the idea of WWE running every day. You can find his full comments by clicking here.
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