How Vince McMahon’s master plan to regain his power in WWE backfired?
Earlier this year, WWE officially merged with UFC under the common wing TKO Group holdings on September 12, 2023. As the merger is done, UFC’s parent company Endeavor holds majority of the stakes in TKO with 51% holdings, with WWE Shareholders own the rest of the 49% shares. McMahon holded 34% of the shares from the TKO Group Stocks. McMahon was awarded the Executive Chairman role in the TKO Group Holdings and was given veto power to participate in the decision making process. At this stage a recent press release from TKO announced that McMahon is planning to sell a majority of TKO shares.
McMahon to sell $700 million shares
TKO Group has noted in a recent press release that Vince McMahon will be selling 8.4 million shares of the TKO’s stock. It is reported that McMahon’s shares which are likely to be sold are worth $700 million USD. At present, one share of TKO stocks is worth $84.9 USD. Based on McMahon’s current move, it is significant that McMahon is ready to enjoy his possible retirement by selling his shares and looking to get out of WWE.
It is worth noting that TKO’s stock fell 5% this Thursday and it was reported that McMahon was listed as a risk factor on the latest SEC filings due to continued news and shareholder restructuring in the company. The press release also noted that Vince’s connection with the company could have adverse financial and operational impacts in the operation of the business.
Ari Emanuel to buy $100 million worth shares
Ringside News reported that the CEO of TKO Group & Endeavor Ari Emanuel, is interested in buying $100 million worth of shares. Based on the reports it is clear that the company itself is not selling any of the shares in this transaction.
It is reported that McMahon will be benefited from the secondary proceedings but the CEO and key figures will also show interest in acquiring the Company’s Class A Common Stock from the public offering price.