Is there a wrestling term for Vince McMahon’s shocking, yet not at all surprising, return to the WWE? After all, it was only six months ago that McMahon, now 77, abruptly retired from the pro wrestling outfit following revelations that he paid women nearly $15 million to hush up sexual misconduct allegations. Now he’s back in characteristically provocative form, the master showman with a history of writing himself into the script. 

McMahon’s reappearance has consequences, of course. Those payments, which McMahon made without informing his board, are still being investigated by the U.S. Attorney’s Office and the S.E.C. The WWE, which still enjoys strong TV and streaming ratings, is soliciting multi-billion dollar acquisition offers. And now McMahon also has to deal with a new shareholder lawsuit in the Delaware Court of Chancery over his power move to amend the company’s bylaws, fire a third of the board, and reinstate himself as executive chairman. 

Nobody on the WWE board thought McMahon’s heel turn was a good idea, and I’ve learned that two factions emerged when the directors held several emergency meetings around Christmas: a few hardliners who were dead set against McMahon’s return, full stop, and those who just didn’t want that distraction now. The latter group made a concerted push to get McMahon to at least wait a few months until the WWE’s annual shareholder meeting.