Vince McMahon Sells $641.8 Million Of TKO Stock

TKO

It was recently revealed that Vince McMahon was selling some of his TKO stock amounting to 30% of his shares in the company.

Reports had emerged that McMahon planned to sell 8,400,000 shares in the company.

This came TKO itself stated that McMahon’s board membership “could expose (TKO) to negative publicity and/or have other adverse financial and operational impacts.”

The close proximity of both announcements led some to believe they were connected.

In a recent discussion on the subject on the Wrestling Observer Radio, Dave Meltzer suggested that this was not the case.

Discussing the value of the stock that was sold and McMahon’s reason for doing so, Meltzer claimed:

“He sold his stock for $641.8 million. About 30% or so of his stock. Which is a lot lower than it would have been worth not that long ago. But the decision was made a ways back.

“This is not about him being unhappy or anything like that. He’s been selling his stock for years. Because he had majority interest in the company, and then he would cut back and cash out. He sold a lot to fund the second XFL among other things. But it’s something he’s been constantly doing.

“I don’t think that it’s anything to be… people are going, ‘He’s trying to get out’ or anything like that. If he sells to below 7 million shares, that’s when he’ll lose his Board of Directors seat. At that point that would say, yes he’s getting out. Until he gets to that level, it’s like, he’s still Chairman of the Board, he’s not gonna get out.”

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Brandon Thurston of Wrestlenomics would also provide insight into the sale, tweeting:

“Vince McMahon ended up selling 8,400,000 $TKO shares at a price of $76.41/share after underwriting discount and commission to Morgan Stanley.

“Comes out to net proceeds of $641,844,000. He still holds about 20 million TKO shares, ~12% of the company. He held ~16% before this.”

In October 2023, it was reported that Vince McMahon’s power in WWE creative had been “marginalized” since the merger.

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• TKO
• stock
• Vince McMahon
• wwe

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