Vince McMahon recently sold an additional 3.4 million shares of TKO stock to Endeavor and TKO Group Holdings, as revealed in a new SEC filing.
Brandon Thurston of Wrestlenomics is reporting that McMahon now owns less than 5% of WWE.
McMahon has an estimated 8,021,405 shares of TKO remaining, which means he has 4.7% of the company he previously chaired.
McMahon has been gradually selling stocks since November 2023, before he was forced to resign from TKO due to Janel Grant’s sex trafficking lawsuit.
NEW FILING: TKO and Endeavor are buying shares from Vince McMahon.
In two agreements, Endeavor is buying 1,642,970 shares for $142.6M and TKO is buying an additional 1,853,724 for about $150M, for a total of about $293M.
By my count, after the transactions close on Tuesday and… pic.twitter.com/ibVQDvni4H
— Brandon Thurston (@BrandonThurston) April 8, 2024
Vince McMahon Sells Additional Shares of TKO Stock to Endeavor and TKO Group Holdings
In a recent development, it has been revealed that Vince McMahon, the former chairman of TKO, has sold an additional 3.4 million shares of TKO stock to Endeavor and TKO Group Holdings. This information was disclosed in a new filing with the Securities and Exchange Commission (SEC).
According to Brandon Thurston of Wrestlenomics, McMahon’s ownership stake in WWE has now fallen below 5%. He currently holds an estimated 8,021,405 shares of TKO, which accounts for approximately 4.7% of the company he previously chaired.
This is not the first time McMahon has been involved in selling stocks. Since November 2023, he has been gradually divesting his shares. The decision to sell stocks came amidst the controversy surrounding Janel Grant’s sex trafficking lawsuit, which ultimately led to McMahon’s resignation from TKO.
The recent transactions involving Endeavor and TKO Group Holdings are significant in terms of their financial implications. Endeavor is purchasing 1,642,970 shares for $142.6 million, while TKO is acquiring an additional 1,853,724 shares for approximately $150 million. In total, these transactions amount to around $293 million.
It is worth noting that McMahon’s decision to sell shares does not necessarily indicate a lack of confidence in the company’s future prospects. Instead, it may be a strategic move to reallocate his investments or address other financial considerations.
The sale of McMahon’s shares also raises questions about the potential impact on TKO’s ownership structure and decision-making processes. With his ownership stake decreasing, it is likely that other stakeholders will have a greater influence on the company’s direction.
Furthermore, this development could have implications for the professional wrestling industry as a whole. Vince McMahon has been a prominent figure in the industry for decades and has played a significant role in shaping its landscape. Any changes in his involvement and ownership stakes could potentially impact the dynamics of the industry.
As the situation continues to unfold, it will be interesting to see how McMahon’s divestment of shares and the involvement of Endeavor and TKO Group Holdings will shape the future of TKO and the wider professional wrestling world.