Home WWE WWE admits losing Vince McMahon would cause major problems

WWE admits losing Vince McMahon would cause major problems

23
0


WWE Chairman and CEO Vince McMahon is obviously a huge part of the business for the sports entertainment company. However, he is a human being and getting up in age as he is now 73-years-old, WWE understands that something could happen to the billionaire one day.

The WWE Chairman decided to buy the WWE from his father, Vince McMahon Sr. in 1982 at the age of 37-years-old, which would be a defining moment in the history of professional wrestling.

During the late 1980s, McMahon shaped the company into a unique sports entertainment brand that reached family audiences while attracting fans who had never before paid attention to pro wrestling and grew the WWE into the business that it is today.

WWE issued its full 10-K SEC filing this week that listed the possibility of McMahon’s death or retirement.

“The unexpected loss of the services of Vincent K. McMahon could adversely affect our ability to create popular characters and creative storylines or could otherwise adversely affect our operating results.

In addition to serving as Chairman of our Board of Directors and Chief Executive Officer, Mr. McMahon leads the creative team that develops the storylines and the characters for our programming (including our television, WWE Network and other programming) and live events. From time to time, Mr. McMahon has also been an important member of our cast of performers. The loss of Mr. McMahon due to unexpected retirement, disability, death or other unexpected termination for any reason could have a material adverse effect on our ability to create popular characters and creative storylines or could otherwise adversely affect our operating results. Mr. McMahon has established Alpha Entertainment LLC, to explore investment opportunities across the sports entertainment landscapes, and Alpha Entertainment LLC plans to launch a professional football league in early 2020 . While he has provided the Company assurances that his focus on WWE will not be diverted by these efforts, any such diversion or perception of such diversion could adversely affect our operating results and could have a material adverse effect on our stock price.”



LEAVE A REPLY

Please enter your comment!
Please enter your name here