Vince McMahon Going Crazy Over Reports Of His $357 Million Loss

A source close to Vince McMahon has told Wrestling Observer Radio host Dave Meltzer about the WWE chairman€™s reaction to his stock crash and the bad publicity around that. The underwhelming WWE TV rights deal last week has led to a very disappointing loss in confidence about the WWE business value. The share price is currently down to $10.96 and McMahon has personally lost a reported $357 million in the stock collapse. McMahon is described as not being too bothered about his personal financial loss, he is after all vastly wealthy beyond the WWE. However what McMahon is bothered about is the publicity around what he has lost. The reported $357 million hit he took was bandied about the press and McMahon felt like it was a personal embarrassment to his proud standing. The repeated story that he is no longer a billionaire can't be fun for him to hear. €œIt drives him absolutely crazy,€ Dave Meltzer commented. Unfortunately for McMahon this sort of scrutiny is unavoidable ever since he transformed the WWF into a publicly traded company back in 1999. He made a lot of money out of that but is now responsible to report all aspects of his business to the wider world. That€™s one of the reasons a company like the UFC remains private, it isn't ideal to have to be reporting all your business embarrassments to the public who are then going to hang you out to dry with it. Despite McMahon€™s hatred for the scrutiny he is currently under, Meltzer reports it as unlikely that Vince would ever look to buy back his full stake and return the WWE to its previous business model. "He doesn't like the scrutiny but they are pretty adamant they won't go private again." For now Vince McMahon must dust himself off and address how to make back his losses. The chairman is up against it after earning less TV rights fees and the lukewarm start to his WWE Network launch, but this is Vince McMahon, he is used to winning, look out for the WWE to bounce back.
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