Text Messages Suggest Endeavor Anticipated Vince McMahon’s 2022 WWE Exit Would Be Temporary

A new report says that Endeavor anticipated Vince McMahon’s WWE retirement in 2022 would be a temporary one, according to newly-uncovered text messages. As reported, a lawsuit was filed in November of 2023 over the company’s merger TKO, with filings in February arguing that WWE’s investigation into Vince McMahon was a “sham” and that McMahon manipulated the sale process to Endeavor for his benefit. POST Wrestling has published a detailed report on newly-disclosed text messages in the shareholder lawsuit over WWE’s acquisition by Endeavor and merger into TKO.

As you of course know, McMahon announced his retirement in 2022 after reports emerged that he made “hush money” payments to four women over a 12-year period. McMahon eventually returned, forcing his way back onto the WWE Board of Directors and leading the company’s sale to Endeavor.

The site reports that Mark Shapiro, now the president of TKO, sent a text message to now-TKO CFO Andrew Schleimer and Jason Lublin hours after McMahon’s retirement in which he more or less predicted what would happen. Shapiro wrote:

“Nick [Khan] and Stephanie [McMahon] are going to take over the WWE for the next nine months. Vince [will] be back with a new board or he will take the company private or he will sell it/coming to us. The race is on. The courtship is on.”

McMahon’s absence from WWE lasted just under six months. The filings also show communications between McMahon and Ari Emanuel that took place when McMahon was out of the company, before WWE was officially put up for sale. McMahon sent an email on the day of his retirement to WWE’s independent directors that thanked them for their work and wished him well.

The email read:

“Even though I am no longer employed by WWE as of 4 pm EST, I’m taking the liberty of using corporate email one hour after my official departure. I hope that’s alright, lol.”

“I understand this has been a painful and arduous process for all of us to reach a conclusion. I have the utmost respect for each and every one of you and ultimately support your decision-making in an effort to protect shareholder value.”

Vince McMahon communicated with Emanuel in the weeks after his retirement, including a back and forth that saw them set up a meeting at a New York steakhouse on August 10th, 2022. McMahon said he was bringing Stephanie McMahon and Nick Khan, who were both co-CEOs at that time.

It is worth noting that while McMahon had no official role at WWE, he was still the company’s largest and controlling shareholder. There was no prohibition on his speaking with buyers while he was retired, and Delaware corporate law does not typically prohibit shareholders from having private discussions with possible buyers as long as they don’t breach any fiduciary duties.

Emanuel then sent McMahon several messages on August 18th, 2022. The messages were mostly TikTok links and what appears to be an invite to a comedy show. There are also several voice messages, though the content of those is not available. The sequence of communications ends with Emanuel telling McMahon, “I will be your greatest partner.”

Four days later, Emanuel texted McMahon about his having met with Jeff Sine, a senior banker at The Raine Group who ended up as WWE’s financial advisor in the sale process. The two made plans to meet in Europe, with Emanuel being willing to fly from Paris to Italy to meet up.

The Raine Group had history of working with both Endeavor and McMahon, specifically having advised McMahon on his XFL revival. Christopher Donini of the group sent an email on August 25th, 2022 with the subject of “Project Stunner Materials” that was forwarded to Endeavor executives and advisors after having conversations with Jeff Sine. “Stunner” is the name of a Signal group that the plaintiffs in the lawsuit have been seeking more information about.

Sine continued to text McMahon about representing him in potential transactions and McMahon said he had “some personal issues” to resolve in late August.

Once the WWE and Endeavor deal was announced, senior executives at Liberty Media, who were potential bidders, suggested that the deal had not been as competitive as reports stated. Greg Maffei, then Liberty President and CEO, echanged an email with Joseph Baratta of investment firm Blackstone. Baratta shared a link to a news article and said, “Looks like they have been cooking this one up for a while.”

Maffel replied, “Yup… pre-wired.”

The report also notes court filings that reveal Vince McMahon texted Nick Khan about WWE creative in 2023, where he wrote:

Text from me to Paul and Bruce: “Hey guys just double checking. Does Roman [Reigns] and Cody [Rhodes] know the new creative re [WrestleMania] and next year ?”

Bruce : “Not to my knowledge. I don’t know if Paul has had a conversation with either. Roman’s first appearance since we spoke is Friday in DC. Both will be there in person.”

Me to Paul: “ Paul have U “?

Khan responded to McMahon with “Langis” and when McMahon texted what that meant, he replied, “Read it backwards!” Langis backward is “Signal.”

The discovery phase of the lawsuit is nearing its end, with the trial expected to begin in June.