Vince McMahon Selling Over 3 Million More TKO Shares; Endeavor Buying Them Back

Vince McMahon will sell over 3 million more shares in TKO Group Holdings Inc. 

A filing on April 8 with the Securities and Exchanges Commission showed that Endeavor and TKO would repurchase the stocks. The transaction will involve selling 1,642,970 shares to Endeavor (TKO’s parent company) at $89.01 apiece. Endeavor will pay McMahon $146.2 million for the shares. The deal will allow Endeavor to remain the largest shareholder in TKO. 

In the buyback transaction, TKO will pay McMahon $165 million to buy 1,853,724 shares at the same price. Once the deal is done, McMahon will earn $311.2 million. He has earned over $1.4 billion from TKO stock share sales. McMahon will now own around 8 million shares of TKO, less than half of what he started the year with.

This is the fourth time McMahon has sold his shares, the third since stepping down as the executive chairman of TKO in January. He resigned after an ex-WWE employee, Janel Grant, accused him of sexual assault, sex trafficking, and abuse. Grant states she was trafficked to other men and offered a job in return for sex.

McMahon is now under federal investigation, as he has vowed to fight the allegations. WWE held its first WrestleMania show without McMahon last weekend, led by WWE chief content officer, Paul “Triple H” Levesque. Since Grant’s suit was filed, both TKO and the WWE have distanced themselves from McMahon.

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More