WWE Sold to Endeavor

[dubcity]

The Saudis are probably the only ones who would be okay with Vince staying, but even then they could do whatever they wanted if/when they actually owned it.

[Majingir]

Quote: Originally Posted by UFCMPunk

Fightful reached out to Disney and Comcast in regards to buying WWE. They responded anonymously and said the following: "Both companies had employees who had clearly heard of the rumors, and said that it would be hard to believe that any major company would want to retain Vince McMahon’s services in any capacity if they could help it.” Fightful added that “we’ve also been told by people of influence in the companies of at least two potential suitors that they believe there would be roles in WWE post-sale for Stephanie [McMahon] and Paul Levesque [Triple H] if they wished to continue.” https://nodq.com/news/what-disney-an...vince-mcmahon/

Quote: Originally Posted by dubcity

The Saudis are probably the only ones who would be okay with Vince staying, but even then they could do whatever they wanted if/when they actually owned it.

Which then brings up a new question, could people sue based in who they end up selling to? With Vince having as much power as he has, what if WWE sells specifically to a group who ends up being the only one willing to keep Vince on, when there's other offers which actually would've brought on more money/been better for WWE as a whole?

[SmashMan]

Quote: Originally Posted by Majingir

Which then brings up a new question, could people sue based in who they end up selling to? With Vince having as much power as he has, what if WWE sells specifically to a group who ends up being the only one willing to keep Vince on, when there's other offers which actually would've brought on more money/been better for WWE as a whole?

Let me start this reply by saying I'm not a lawyer so I could be entirely wrong here, but if Vince takes a lower offer specifically because the new owner would keep him on, I think shareholders could probably file a lawsuit. I don't know if it'd go anywhere but screwing the shareholders out of more money for his future employment seems like an area to find wrongdoing.

"better for WWE as a whole" seems pretty subjective, so I'll guess no, you can't file a suit just for that. Say the Saudis really do buy the company, what would be the grounds for anyone to sue? They got too much money back in the deal?

[King_B_Mack]

As I understand it, as the chairman of the board and given the SEC filings that his return to the company is to evaluate strategic alternatives with regard to a sale of the company Vince has a fiduciary duty to do what maximizes the value of the shareholder's stock in the company regardless of the fact that he holds the most shares. If the Saudi deal wasn't the highest bid on the table and didn't really offer anything else of real benefit to the shareholders, but it got him back into full creative control of the company so he took it. It would be illegal and the other shareholders would very well be within their right to sue him. When you're a publicly traded company you no longer get the luxury of just doing whatever you want to do. Even with all the voting power in his favor, he still has a responsibility to the shareholders. Which is probably why he wants the company private again. When there's no board of directors to answer to, you can do whatever you please.

[Majingir]

Quote: Originally Posted by King_B_Mack

As I understand it, as the chairman of the board and given the SEC filings that his return to the company is to evaluate strategic alternatives with regard to a sale of the company Vince has a fiduciary duty to do what maximizes the value of the shareholder's stock in the company regardless of the fact that he holds the most shares. If the Saudi deal wasn't the highest bid on the table and didn't really offer anything else of real benefit to the shareholders, but it got him back into full creative control of the company so he took it. It would be illegal and the other shareholders would very well be within their right to sue him. When you're a publicly traded company you no longer get the luxury of just doing whatever you want to do. Even with all the voting power in his favor, he still has a responsibility to the shareholders. Which is probably why he wants the company private again. When there's no board of directors to answer to, you can do whatever you please.

Could it even just be a 2 step process?

Go private, THEN sell later on to someone else.

[King_B_Mack]

Quote: Originally Posted by Majingir

Could it even just be a 2 step process? Go private, THEN sell later on to someone else.

Not really that simple I don’t think. Vince would have to buy the stock back from all the shareholders to regain sole ownership of the company and then take it off the stock market. I don’t think Vince has the kind of capital to buy up all the shares of WWE to pull something like that off.


Sent from my iPhone using Operation Sports

[Majingir]

Quote: Originally Posted by King_B_Mack

Not really that simple I don’t think. Vince would have to buy the stock back from all the shareholders to regain sole ownership of the company and then take it off the stock market. I don’t think Vince has the kind of capital to buy up all the shares of WWE to pull something like that off. Sent from my iPhone using Operation Sports

Does he need to buy all back or majority?

[Suntan Superman]

New SEC filings as of yesterday show the bylaws have changed once again including this:

Quote:

"No further approval of the stockholders of the Company is required to approve any of the actions taken by Mr. McMahon pursuant to the January 16th Consent."