Nick Khan Confronted Vince McMahon Over His Intentions Upon WWE Return
Vince McMahon stunned the wrestling world in early 2023 when it emerged that he had forced his way back onto WWE’s Board of Directors after stepping down in July 2022.
McMahon’s departure came amid allegations of sexual misconduct and hush money payments and WWE’s Board unanimously voted to not allow McMahon to come back before he leveraged his position as majority shareholder of the company to do so, eventually being installed as Executive Chairman by much of the same Board that attempted to block his comeback.
With McMahon back in the fold, many felt it wouldn’t be long before he took over day-to-day creative operations once again and it appears CEO Nick Khan was unsure of McMahon’s true intentions as well.
Speaking at the MoffettNathanson’s Inaugural Technology, Media, and Telecom Conference. Nick Khan revealed he had a frank conversation with Vince McMahon upon his return about McMahon’s true intentions with McMahon giving Khan his word that he was committed to a sale:
“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.”
The day after WrestleMania 39, WWE announced that they were to be acquired by Endeavor and merged into a new company with UFC. That company will be known as TKO Group Holdings and will have Vince McMahon as its Executive Chairman while Khan will transition to the role of WWE President.