Vince McMahon Sells $100 Million WWE Parent Company TKO Stock

Vince McMahon Sells $100 Million WWE Parent Company TKO Stock WWE

Details have emerged on Vince McMahon selling another $100 million of stock in WWE parent company TKO Group Holdings.

The news emerged in an SEC filing from TKO on March 28.

However, unlike McMahon’s sale of $412 million worth of stock earlier in the month, this wasn’t just a straightforward sale.

Brandon Thurston of Wrestlenomics explains:

Vince McMahon’s latest stock transaction, disposing of 3,484,000 $TKO shares, was related to his margin loan with Morgan Stanley, which was initiated in March 2020, shortly after the XFL folded. Vince got $85 million in cash at the time from the loan.

March 2024 was the scheduled month for the agreement to be settled, in which many shares would be transferred to Morgan Stanley in 15 installments throughout the month, from March 5 to March 25. How many shares Morgan Stanley got was contingent on complex math involving what the stock price would be this month.

I believe Vince would’ve ended up transferring about 2.25M of the 3.484M shares to Morgan Stanley, but instead the parties amended the agreement at the beginning of the month for Morgan Stanely to just get all 3.484M shares in exchange for an additional payment to Vince of $100M, which is close to market value for the incremental shares being transacted.

In other words, this wasn’t an entirely spontaneous stock sale, but Vince did decide to sell off more than the original agreement required.

To review, earlier this month, in a more straightforward transaction, on March 4, Vince did sell 5,350,000 shares, liquidating about $412M. And in November he sold 8,400,000 shares for about $642M.

After his stock transactions, Vince now has 11,518,099 shares, which is about 6.7% of all TKO shares. He has the same percentage of voting power.

Plus, due to TKO’s special one-time dividend that paid out upon the closure of the merger in September, Vince received about $111M.

The transactions above total more than $1.2B in cash that Vince has received since September.

You can find WWE parent company TKO’s filing here.

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4 weeks ago by Liam Winnard

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