Vince McMahon is reportedly selling a big portion of his stake in TKO Group Holdings, Inc, following the recent merger between the UFC and WWE.
According to a filing at the Securities and Exchange Commission, the executive chairman of TKO Group Holdings will aim to sell 8.4 million worth of his shares, which would equate to around $700 million. That would be a total of approximately 25 percent worth of shares. It is alleged that Endeavor will purchase back $100 million of the stocks that become available. Ari Emanuel (TKO CEO) and Mark Shapiro (TKO president) will allegedly spend $1 million each on buying back the stock, while $850,000 worth will be purchased from ‘other directors.’ The decision to sell a big chunk may come as a surprise following McMahon’s recent praise of Dana White which put to bed any concerns over their prior troubled working relationship.
Vince McMahon selling $700 million in TKO Group Holdings stock, Endeavor and Ari Emanuel among buyers https://t.co/ukFbeRyqiA
— MMA Fighting (@MMAFighting) November 9, 2023
“I don’t bust anybody chops unless they get in the way. But Dana and I get along very, very well. He’s a really good guy. We’re good partners and good businessmen. We’re good businessmen and we get along,” McMahon
It is not clear what motivated McMahon’s decision, but the move could see his departure from WWE as well as his role as executive chairman at TKO.
He is smart, that merger was a disaster and the stock will keep dropping
— Alan Barcoff The Governor!! (@alanbarcoff) November 9, 2023
Do you think this has anything to do with the UFC anti trust lawsuit? TKO stock will take a big hit if anything comes of it
— MMA Trivia Championship (@MMATriviaChamp) November 9, 2023
is this the end of WWE as we know it…?
— Stoke (@WrldofStoke) November 9, 2023