Recently speaking at MoffettNathanson’s Inaugural Technology, Media, and Telecom Conference, WWE CEO Nick Khan was asked and discussed what drove Vince McMahon to sell his company to the Endeavor Group.
Shedding light on a private conversation with Vince McMahon prior to the sale, Khan said,
“Can’t discuss that. Kidding. Can discuss that, don’t worry. There’s a couple things on it. When he (Vince McMahon) came back, again, the term was ‘first strategic alternatives’ and he and I had a private conversation which he’s certainly comfortable with me sharing today where I said, ‘Hey, just tell me is this real because there’s some scuttlebutt out there that maybe this is just your way to come back in to your company,’ which again, he would have the right to do also and he said, ‘No, I’m committed to it. I give you, my word.’
“Raine (Group) was the lead banker on the transaction. Vince said, ‘I wanna make sure WWE has a strong banker on it.’ That’s gonna be management’s decision and then the Board of course would need to have some sort of representation as well, so he gave me his word that he was serious about the process. Lo and behold, he was serious about the process and the deal was finalized April 1st and announced the morning of April 3rd before the market opened.”
During the same appearance, Nick Khan also disclosed that there have been internal discussions about the possibility of launching a new lucha libre oriented show.
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