WWE’s Vince McMahon Puts More Than 8 Million Shares Of Class A TKO Stock Up For Sale
The Executive Chairman of WWE’s TKO Group Holdings, Vince McMahon, is preparing to sell over 8 million shares of Class A TKO stock. In a recent announcement from TKO, it was revealed that Vince McMahon will be divesting approximately 30% of his ownership in the company. This move includes allocating shares to board members Ari Emanuel and Mark Shapiro.
About Vince McMahon Shares
The 8.4 million shares of Class A stock are estimated to be worth around $700 million based on the stock’s closing price, as stated by Brandon Thurston. TKO itself will purchase $100 million worth of the stock, with Ari Emanuel, the CEO of Endeavor, acquiring $1 million worth and Endeavor president Mark Shapiro purchasing 850,000 shares. The remaining stock, valued at roughly $598 million at the closing price, will be made available to the public.
This decision comes shortly after McMahon was listed as a potential liability in a filing with the Securities & Exchange Commission. Notably, less than two months ago, TKO disclosed the sale of all 28.84 million shares of McMahon’s Class A stock in the newly established company, leading to speculation about the company’s intentions regarding the controversial executive. This speculation was fueled by McMahon being served with a subpoena for a Federal Grand Jury and a search warrant.
While McMahon briefly retired last year amid a WWE investigation into his use of company funds for confidential payments, he returned to facilitate the merger with UFC in April. However, since then, he appears to have been gradually phased out of his role as the creative force behind WWE, with Endeavor aligning with WWE Chief Content Officer Paul Levesque in times of conflict.
