WWE and the promotion\’s new Executive Chairman Vince McMahon are bringing in some heavy hitters to aid in the potential sale of the promotion.
McMahon returned to WWE\’s Board of Directors last week to aid with a potential sale, alongside former co-Presidents Michelle Wilson and George Barrios.
The return of the controversial 77-year-old founder resulted in multiple resignations from the board from individuals who disagreed with the decision for McMahon to return.
Advisors
Earlier this week, WWE issued a statement confirming that legal and financial titan J.P. Morgan has been hired to advise on a sale.
Now, a new statement from WWE has announced that more names are working with them, including The Raine Group, LLC as the promotion\’s financial advisor.
Kirkland & Ellis LLP will serve as legal advisor and August LLC as strategic communications advisor to support WWE’s management team.
In a quote from Vince McMahon, the Executive Chairman spoke about the future of the promotion.
“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.
\”I am highly confident that our outstanding Directors, outside advisors, 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.\”
Despite reports earlier this week that WWE had been purchased by the Saudi Arabia Public Investment Fund, it has since been clarified that no deal has been reached at this time.
