All-Purpose McMustache/WWE Sale Thread (Future: Endeavor-ed)

[polarbearpete]

Jan 17, 2023 9:18:13 GMT -5 Finish Uncle Muffin’s Story said:

Vince McMahon officially returned to the board of directors on January 6, claiming he needed to return to help lead the upcoming round of media rights negotiations. Vince is the controlling shareholder of the company. As part of his return, he amended the WWE bylines.

In a new filing, it's stated that McMahon no longer needs approval from WWE stockholders on actions taken moving forward.

www.fightful.com/wrestling/vince-mcmahon-doesn-t-need-approval-stockholders-any-actions-taken-according-sec-filing

So, the guy can do whatever he wants again. Buckle up, gang!

I don’t think Fightful is interpreting that filing correctly. My reading of it is that the amendments to the bylaws he made on January 5th (which essentially enabled him to unilaterally take action as he did on January 6th) have now been repealed as of January 16.

So the bylaws are now the same as they were pre-January 5.

[mistery]

Here is the second lawsuit against Vince for hijacking the board.

www.sportico.com/law/analysis/2023/vince-mcmahon-sued-by-stockholders-1234701386/

Things are only going to get worse and worse for Vince, especially since Jerry McDevitt is retiring, and he was pretty much the only reason that he was managing to fend off these lawsuits. The big thing these guys are gunning for is that the courts declare that Vince's move was unlawful, and to force him to give up whatever he managed to do over the past week or so.

[polarbearpete]

Jan 17, 2023 9:29:17 GMT -5 mistery said:

Here is the second lawsuit against Vince for hijacking the board.

www.sportico.com/law/analysis/2023/vince-mcmahon-sued-by-stockholders-1234701386/

Things are only going to get worse and worse for Vince, especially since Jerry McDevitt is retiring, and he was pretty much the only reason that he was managing to fend off these lawsuits.

I wouldn’t put that much faith in McDevitt retiring being a reason they can’t defend lawsuits. He’s not the grand poobah of lawyers. Same firm, same people will probably still be handling most things.

[mistery]

Jan 17, 2023 9:35:22 GMT -5 polarbearpete said:

Jan 17, 2023 9:29:17 GMT -5 mistery said:

Here is the second lawsuit against Vince for hijacking the board.

www.sportico.com/law/analysis/2023/vince-mcmahon-sued-by-stockholders-1234701386/

Things are only going to get worse and worse for Vince, especially since Jerry McDevitt is retiring, and he was pretty much the only reason that he was managing to fend off these lawsuits.

I wouldn’t put that much faith in McDevitt retiring being a reason they can’t defend lawsuits. He’s not the grand poobah of lawyers. Same firm, same people will probably still be handling most things.

I dunno about that. McDevitt subtly hinted that Vince shouldn't be making power grabs like this, it'll only come back to bite him. His retirement is basically wanting to get off the ship before it sinks (with him on it).

[polarbearpete]

Jan 17, 2023 9:37:32 GMT -5 mistery said:

Jan 17, 2023 9:35:22 GMT -5 polarbearpete said:

I wouldn’t put that much faith in McDevitt retiring being a reason they can’t defend lawsuits. He’s not the grand poobah of lawyers. Same firm, same people will probably still be handling most things.

I dunno about that. McDevitt subtly hinted that Vince shouldn't be making power grabs like this, it'll only come back to bite him. His retirement is basically wanting to get off the ship before it sinks (with him on it).

He announced he’s going to retire way before the Vince scandal. There are articles about it last January.

[sarkerpolseng]

Vince really doesn't know how to read a room does he?

[XIII]

Vince is just playing the legal game. All those filings are doing is making any lawsuit filed against him for his power grab pointless. He worked the system to get back in and now he’s continuing to do so. Basically he changed the bylaws to get back in power, got power, and then changed them back which since he filed with the SEC all appears legal if not quite ethical.

The fact that they name Delaware as the only legal jurisdiction is kind of telling too as it is heavily in favor of the corporate side.

[Legion]

Jan 17, 2023 10:14:00 GMT -5 XIII said:

Vince is just playing the legal game. All those filings are doing is making any lawsuit filed against him for his power grab pointless. He worked the system to get back in and now he’s continuing to do so. Basically he changed the bylaws to get back in power, got power, and then changed them back which since he filed with the SEC all appears legal if not quite ethical.

The fact that they name Delaware as the only legal jurisdiction is kind of telling too as it is heavily in favor of the corporate side.

And when Vince doesnt end up selling at all, this will have all been the corporate long game to get his job back.

[Deleted]

The man has now made it to where he no longer has to anwser to the board and can do whatever the hell he wants all while remaning a publicly traded company.

This man has no intention of selling and never unless he is absoloutley forced to.

Although I see some people mentioning something about all of this shit he is pulling f***ing with peoples pensions...which seems like something that will no doubt bring a legal shitstorm down on him.

[SneakMan]

Jan 17, 2023 9:18:13 GMT -5 Finish Uncle Muffin’s Story said:

Not exactly surprising he no longer needs the board’s consent to do stuff, since it’s clear from other areas of his life that consent as a general concept matters very little to Vince.

[mc74]

You f***ing knew this was coming the moment it was announced Vince was back on the board. He had this orchestrated from the get-go.

[mc74]

twitter.com/SeanRossSapp/status/1615394845463568384

Also, Vince has already brought back some of his yes men. Expect Johnny Ace to be back soon too.

[celtics543]

At this point Bruce Prichard is Lucius Malfoy. Just trying to keep both sides happy and side with whoever has the most power while trying not to get fired.

[Mochi Lone Wolf]

Were we expecting anything else?

[thechase]

Jan 17, 2023 13:13:54 GMT -5 mc74 said:

Also, Vince has already brought back some of his yes men. Expect Johnny Ace to be back soon too.

And Big E reacted
twitter.com/WWEBigE/status/1615396315495817216

[PTBartman]

I wonder if Vince has hired a food taster yet.

[kingoftheindies]

2 executives gone in 24 hours

[canceled4truth]

Jan 17, 2023 13:13:54 GMT -5 mc74 said:

Also, Vince has already brought back some of his yes men. Expect Johnny Ace to be back soon too.

I'm confused, this Twitter thread is about two people who had worked under Vince leaving, did they announce someone as their replacements?

[Kalmia]

I'd be interested in knowing why the communications guy has gone. If you spend 25 years in WWE then it's highly likely Vince likes you and you like him. So I'd be interested to know if something has happened recently or if it's just someone naturally moving on/retiring and it has no connection to the recent events.

[Finish Uncle Muffin’s Story]

Jan 17, 2023 15:33:03 GMT -5 Kalmia said:

I'd be interested in knowing why the communications guy has gone. If you spend 25 years in WWE then it's highly likely Vince likes you and you like him. So I'd be interested to know if something has happened recently or if it's just someone naturally moving on/retiring and it has no connection to the recent events.

It's hard to tell. In situations like this where an acquisition is on the horizon, marketing and comms are usually among the first to go because the acquiring company may already have a marketing/comms function in place. I'm sure we'll hear something, though, especially as the dust settles on this whole mess.