Vince McMahon Plans to Stay in the WWE

12/6/2023 8:29 PM

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Vince McMahon Plans to Stay in the WWE

Vince McMahon Plans to Stay in the WWE

December 6, 2023 8:29 PM
Vince McMahon Plans to Stay in the WWE
WWE News

Sports Illustrated Reports Why He Sold $700 Million in Stock

Vince McMahon plans to stay in the WWE, that's the latest from Sports Illustrated which has an update on Mr. McMahon's status within the WWE. McMahon, who currently serves as the Executive Chairman of TKO Group Holdings found himself in the spotlight again when he sold 25% of his shares in TKO. The story also has information on why McMahon recently sold $700 million worth of TKO-Holdings stock.

Sports Illustrated's Justin Barrasso commented on Vince McMahon's future in TKO-Holdings, noting that McMahon's recent sale of 8.4 million shares of TKO stock:

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raised questions over McMahon’s long-term future with WWE. Sources within WWE, however, shared that McMahon has no plans to leave the company. Though the reasons were undisclosed, Sports Illustrated learned that McMahon needed to have the money liquid, which is why he sold such a hefty portion of his stock.

The report added that it's unknown just why McMahon wants to have a large amount of money liquid.

Questions About McMahon's Status in the WWE

McMahon's status in the WWE has been a subject of debate ever since Endeavor and the WWE merged in September. While TKO-Holdings' Ari Emanuel stated that he wanted Vince McMahon in creative, Emanuel shifted gears, placing Triple H in complete control of the WWE's creative department.

There were other factors that had some observers wondering whether TKO-Holdings was thinking of putting McMahon out to pasture. One is the revelation that the federal government executed a search warrant on the WWE in regards to its ongoing investigation of McMahon. Last August, CNBC's Dan Mangan reported:

Federal law enforcement agents executed a search warrant on World Wrestling Entertainment
boss Vince McMahon last month and served him with a federal grand jury subpoena, the company disclosed Wednesday.
The actions represent an escalation of an ongoing investigation into allegations that McMahon paid millions of dollars over the years to women after being accused of sexual misconduct.

H/T CNBC

On November 7, TKO-Holdings filed its first quarterly earnings report and included this statement regarding McMahon's status in the company:

Mr. McMahon’s membership on our Board could expose us to negative publicity and/or have other adverse financial and operational impacts on our business. His membership also may result in additional scrutiny or otherwise exacerbate the other risks described herein. Any of these outcomes could directly or indirectly have adverse financial and operational impacts on our business.

H/T Cageside Seats

If the Sports Illustrated story is accurate, it appears TKO-Holdings feels McMahon's assets outweigh any liabilities. As WrestleLamia has noted before, McMahon's experience running the WWE coupled with the many business, sports, and political contacts he has bring much to the table. However, it's a safe bet that TKO-Holdings would drop McMahon in a second if he did something to bring bad publicity to the company such as a repeat of the hush-money scandal that led to his previous retirement from the WWE.

What do you think of Vince McMahon's plans to stick around in the WWE?

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