Vince McMahon Unloading 30% of his TKO Stock

11/9/2023 11:52 PM

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Vince McMahon Unloading 30% of his TKO Stock

Vince McMahon Unloading 30% of his TKO Stock

November 9, 2023 11:52 PM
Vince McMahon Unloading 30% of his TKO Stock
WWE News

What's McMahon's Motivation?

Vince McMahon is unloading 30% of his TKO-Holdings stock, but why? TKO released a statement announcing Mr. McMahon is putting some of his shares in TKO-Holdings up for sale.

WrestleTalk's Connel Rumsey provided a summary of TKO's announcement (the announcement can be accessed here):

8,400,000 shares equates to around 30% of his company shares, with both Ari Emanuel and Mark Shapiro having interest in purchasing $1 million of shares each.

H/T WrestleTalk

As Rumsey noted, this follows TKO-Holdings' recent quarterly earnings report which contained the following language concerning McMahon's presence on the TKO-Holdings board of directors and how it could impact 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.

2023 has been an eventful year for Mr. McMahon as his December 2022 return to the company led to him regaining control as he sought to sell the WWE. This eventually led to the deal where Endeavor and the WWE merged into TKO-Holdings.

This year also saw the federal government execute search warrants on McMahon and news broke that he was subpoenaed to testify before a federal grand jury. According to a 2 August 2023 NBC News report:

Reached for comment Wednesday, the company said it believes the subpoena and search warrant are “a continuation of the investigation that commenced last summer. WWE has cooperated throughout and fully understands and respects the government’s need for a complete process.”

McMahon also underwent spinal surgery and took a leave of absence from the WWE. Later this year, TKO-Holdings gave Triple H complete control of WWE creative, despite previous statements that McMahon could work in creative as long as he wanted.

What do you think of Vince McMahon announcing the sale of these shares?

Photo Credit: WWE