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Rumor Killer On Vince McMahon Selling WWE

Vince McMahon WWF Announcer Interviewer

• Old School WWF Veteran Celebrates His Birthday

Old School WWF Veteran Haku (Real name: Tonga Fifita) celebrates his 61st birthday today.

He joined the World Wrestling Federation in 1986 as King Tonga, but was soon renamed Haku and put into a Tag Team with Tama, called “The Islanders”.

Haku wrestled for the WWF until early 1992, before he signed a contract with Ted Turner’s World Championship Wrestling in 1994 and worked for the promotion under the name “Meng”, till he returned to the WWF in January 2001 for one last run, that only lasted a few months.

He’s still considered one of the toughest pro wrestlers of all time, some even argue that he’s the most badass tough guy ever in wrestling history.

HAPPY BIRTHDAY HAKU!

• Rumor Killer On Vince McMahon Selling WWE

As we noted before, WWE Co-Presidents George Barrios and Michelle Wilson are no longer a part of the company and will no longer serve on the Board of Directors.

With these departures, WWE stock price fell down and Bloomberg is reporting that WWE has lost over $1 billion in market value.

WWE’s stock fell down 28% and Loop Capital’s Alan Gould reports that WWE now has “diminished confidence”.

Under this current situation and XFL’s launch date almost here, there’s a rumor going on that Vince McMahon is going to sell WWE and move out of the wrestling business.

However, that’s not the case. Below is what Tom Colohue said about this:

“One of the rumors going around as per this particular topic is that there is an intention to sell WWE and that Vince McMahon wants to move full time out of wrestling as well as Triple H and Stephanie McMahon.

To my knowledge, this is considerably wide off the mark. Vince McMahon, from everything I’ve been told, as much as he’s stepping back from the day-to-day running, and brought in Executive Directors for that reason so that he could work on the XFL, Vince McMahon will never truly relinquish control of the WWE.

I have absolute faith in that. If there’s a sale coming, it will be a sale of the 49% that he does not control.”

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