Samoa Joe Returning To WWE TV, Vince McMahon’s Future Clarified
The suspension for Samoa Joe is now up, but will he return for WrestleMania 36 tapings? And Vince McMahon's decision to sell stock explained.
Samoa Joe Returning To WWE TV
Samoa Joe is now cleared to return to WWE television after serving a 30 day suspension for violating the WWE’s Wellness Policy.
Joe’s suspension started on February 24 after he was found to have failed a test. It is unknown at this time if he will be wrote back in just days before WrestleMania 36 tapings take place.
Everyone thought I was being a bit excessive when I had these installed throughout my home. Now I sit upon Sanitary Throne of Smug Satisfaction pic.twitter.com/5kKROrlxoL
— Samoa Joe (@SamoaJoe) March 14, 2020
Along with his wellness policy suspension, Joe is also recovering from a reported concussion that happened right before his failed test. He suffered the injury during a table spot, following up a broken thumb from September. Since joining the main roster, Joe has been plagued with injuries. These injuries have caused Joe to only work one WrestleMania since being called to the main roster.
Joe was sidelined through much of the final months of 2019 with the thumb injury, suffering a concussion in January and a second a month later.
The 41-year-old Joe is a former two-time WWE United States champion, former two-time NXT champion and winner of the 2015 Dusty Rhodes Tag Team Classic with Finn Balor.
— Đ₳₦ ⱧɆVł₳ (@DanHevia) February 6, 2020
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Prior to his run in the WWE, Joe was a major character for Total Nonstop Action Wrestling. He won the heavyweight title, television title, X-Division belt and tag team titles for TNA, along with the 2005 Super X Cup. In conclusion, WWE could have found a way to enter Samoa Joe into WrestleMania 36. At the same time, the company might want to hold-off until the event.
Vince McMahon’s Future Clarified
Vince McMahon didn’t make his money by being a silly businessman. So, people should be shocked McMahon was prepared for the COVID-19 pandemic.
Recently, McMahon agreed to sell several shares of the WWE by March 2024, filing an 8-K form. This was done due to the loss of money over the COVID-19 pandemic that has hit the U.S. and world.
By putting together the form and agreeing to sell, McMahon avoids turning over the stocks right now and paying taxes on the sale at this time.
Yesterday, Vince McMahon put 3.5 million of his WWE shares into a variable prepaid forward contract with “an unaffiliated bank”. The contract is scheduled to settle in March 2024.
— Wrestlenomics (@wrestlenomics) March 25, 2020
In a piece written by Yahoo Finance, WWE confirmed the decision and clarified McMahon’s position within the promotion.
“Mr. McMahon has informed us that he intends to continue in his capacity as the Company’s Chairman and Chief Executive Officer for the foreseeable future,” the report states.
— Blame The Internet ♎ (@indiana85) March 25, 2020
According to Drew Singer of Bloomberg News, the bank used was Morgan Stanley. And, the deal priced 2.26 million shares at $38 each. Therefore, covering more than $80 million in freed-up liquidity.
McMahon, who purchased the promotion from his father in 1982, is valued at $1.7 billion. He also started up the XFL this past year for a second time. Although, the season was canceled due to the spread of the novel coronavirus. It is scheduled to return in early 2021.
— Vince McMahon (@VinceMcMahon) February 25, 2020