In this article, we will discuss the recent controversies surrounding Vince McMahon, the CEO of WWE, and rumors of the company’s potential sale.
Allegations Against Vince McMahon
The Wall Street Journal has reported that Vince McMahon has agreed to a multimillion-dollar settlement with former WWE referee Rita Chatterton, who accused him of rape in 1992. These allegations resurfaced in 2022 as a wave of sexual misconduct allegations came crashing down on McMahon, which many speculate was the main motivator for his short-lived retirement from the company. McMahon’s lawyer had received a letter from Chatterton and her representatives back in November 2022 which demanded $11.75 million dollars in damages for the alleged assault. McMahon’s lawyer Jerry McDevitt said “Mr. McMahon denies and always has denied raping Ms. Chatterton. And he settled the case solely to avoid the cost of litigation.”
This settlement follows a $7.5 million settlement Mr. McMahon reached in 2018 with a former wrestler who alleged that he coerced her into giving him oral sex, as well as a 2022 agreement in which he agreed to pay $3 million to a former WWE employee with whom he allegedly had an affair. McMahon has refused to comment on either of these agreements.
WWE Sale Price
Rumors suggest WWE is readying up to be sold, and Vince cited that his main motivator for returning to the WWE after six months of absence was to help with their upcoming media rights negotiations and look into other strategic alternatives, like a potential sale. Dave Meltzer, a wrestling journalist, is reporting in the Wrestling Observer Newsletter that WWE is looking to sell for a figure somewhere “in the $8.5 billion range.” Analysts believe Comcast is capable of agreeing to a deal more in the range of ” $7.4 billion to $8.2 billion.”
Despite all the doom and gloom surrounding WWE lately, let’s not forget that the Royal Rumble is just over a week away. The Women’s Rumble match looks to be extremely wide-open and while the same can’t be said for the men’s match it’s perceived predictability doesn’t particularly hold it back this time. Mainly because Cody is someone a lot of people actually want to win, unlike previously predictable outcomes in 2022, 2016, 2015 etc.
The wrestling world is in turmoil as allegations of misconduct and rumors of a potential sale shake the foundation of WWE. Only time will tell how these controversies will play out and what the future holds for the company.