WWE Exploring Potential Sale

The WWE seems to be making great progress towards a new era. multibillion-dollar sale.

The professional wrestling conglomerate revealed that it has hired multiple outside advisory firms. The Raine Group LLC was appointed as a financial advisor, Kirkland & Ellis LLP as a legal advisor, and August LLC as a strategic communications advisor.

This announcement follows the release of Vince McMahon’s sudden return Following his disgraceful exit last January, WWE.

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A screen shows the logo of WWE before the WWE news conference at T-Mobile Arena on October 11, 2019, in Las Vegas. (Ethan Miller/Getty Images/Getty Images

They are expected to support the management of WWE and its board as they review “strategic alternatives” McMahon mentioned that the goal is to maximize shareholder value.

After Vince’s departure, Stephanie McMahon was promoted to co-CEO with WWE President Nick Khan. Shortly thereafter Vince McMahon Announced his intention to return the organization he founded. Stephanie resigned as the co-CEO of the board and chair.

STEPHANIE MCMAHON IS REGISTERED AS WWE CO-CEO 

McMahon talked about the next round of media rights for WWE, and other potential sales.

“WWE’s upcoming media rights cycle will take place amid a rapidly evolving media and entertainment landscape, and we believe exploring our strategic alternatives at this critical juncture will enable WWE to fully capitalize on the significant value of our intellectual property,” McMahon made the statement in a statement.

“I am highly confident that our outstanding directors, outside advisers and executive team will provide valuable expertise and counsel to help guide the company through this important process while our management team and employee base continue to deliver results and content our fans love.”

Vince McMahon is the chairman and CEO of WWE. He speaks at a press conference announcing WWE Network at 2014 International CES at Encore Theater at Wynn Las Vegas, Jan. 8, 2014.  (Ethan Miller/Getty Images/Getty Images

Khan is expected to stay. with the company and serve as WWE’s sole CEO. 

Vince McMahon and the former talent agency executive will manage media negotiations. McMahon, despite his brief absence from the company, remained the controlling shareholder. He was also able to elect himself chairman by consent order.

Vince McMahon is the chairman and CEO at WWE. He attends a conference to announce WrestleManiaXXIX at MetLife Stadium in East Rutherford on February 16, 2012.  (John W. Ferguson/WireImage/Getty images)

“I’m grateful to Vince McMahon and our board of directors for their ongoing support,” Khan stated this in a statement on Tuesday. “I look forward to continuing to work closely with them and my WWE colleagues to ensure our company may thrive as the premiere powerhouse in sports entertainment for years to come.”

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WWE stock has increased more than 20% since McMahon’s reinstallation and has a market capitalization exceeding $6.6 billion.

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