Vince McMahon has brought a lot of waves in the WWE since he took his leave back in July 2022. Things have worked more beautifully and with ease for the fans under Triple H’s creative direction. However, much of this peace was disrupted when Vince McMahon got back to the company. The fans and WWE superstars were equally not happy with Vince McMahon’s return since it would allow history to repeat itself.
Vince McMahon reportedly sells WWE to Saudi Arabia’s Public Investment Fund 🤑 pic.twitter.com/JZwdCKjJA3
— SPORTbible (@sportbible) January 11, 2023
Not only were there rumors of him selling the WWE but he ensured to get back to the company anyhow. Vince McMahon held the company hostage and warned to stop all media rights if he was not allowed to get into the executive position. The company’s Board Of Control had varying opinions on Vince’s return but eventually had to give in to his demands.
Many fans wondered if Stephanie McMahon resigned from her position as the CEO in order to vacate a seat for her father. Recently, Vince McMahon and WWE signed a contract making him an employee of the company. The SEC filing put a halt to all the notions that the fans had for McMahon’s role in WWE.
What is mentioned is the clause signed by Vince McMahon?
The employment agreement, signed between WWE and Vince McMahon has a lot of pointers that provide clarity on Vince’s role in WWE. “This EMPLOYMENT AGREEMENT (the “Agreement”) is entered into as of this 29th day of March 2023 and effective as of January 9, 2023 (the “Effective Date”), by and between World Wrestling Entertainment, Inc. (“WWE” or the “Company”) and Vincent K. McMahon (“McMahon”),” the letter starts and mentions that both the parties are compliant with the other details mentioned in the same.
Breaking: Vince McMahon is Officially BACK
— Wrestlebuddy (@Wrestle_buddy) March 31, 2023
“According to a new SEC filing, Vince McMahon entered into an employment agreement with WWE, effective as of March 29, 2023. The agreement is retroactive to January 9, 2023, which is the date he was appointed Executive Chairman”.
– FF pic.twitter.com/fgmNhS1zzM
The agreement puts McMahon in the position for two years. If the company fails to provide him with a non-renewal contract 180 days before, his term is bound to be extended by a year. In case, Vince wants to resign, he has to provide a 60-day notice period to the company and also pay fixed amounts to the company.
For his full-time work in the company, Vince is declared to have a base annual salary of $1,200,000. Being an employee of the company, he is also eligible for other benefits and perks that WWE offers to all its employees. With all that being said, the fans need to wait and see what is next in store from Vince McMahon’s end.