What did TKO President say about Vince McMahon's involvement in WWE?

Vince McMahon resigned from his position at TKO Group in January 2024

The name ‘Vince McMahon’ has been synonymous with WWE and the pro wrestling world for decades. However, in recent times the name has been involved in many controversies, federal proceedings, and sexual misconduct allegations.

McMahon resigned as WWE CEO and chairman in June 2022, following claims of hush-money agreements over affairs with former WWE employees. He later returned to the promotion in early 2023 to facilitate the sale of the company.

In 2023, WWE was merged with the UFC (Ultimate Fighting Championship) to form TKO group by their parent company Endeavor Group Holdings in April. McMahon returned to serve as the executive chairman of the newly merged company, TKO Group Holdings (TKO).

Vince later resigned from his position at TKO Group in January 2024 following allegations of trafficking and assault. The TKO deal is the first time that the promotion is not entirely owned and operated by the McMahon family.

TKO President Mark Shapiro met Vince McMahon after the release of Vince’s Netflix documentary

In a recent interview with CNBC, TKO President and Chief Operating Officer Mark Shapiro revealed that he recently met and had breakfast with the former CEO a few weeks ago.

Shapiro also reiterated that McMahon has no say in the company and is not involved or say in any decisions made by the Stamford-based promotion.

“I had breakfast with him a few weeks ago, just to check in, it’s been a long time. Haven’t heard from him at all. Obviously, the series on Netflix came out. I wanted to see kind of where he was. He couldn’t have been more cooperative. He couldn’t have been nicer. He was a total pro at breakfast. It’s a one on one get together, but he’s out of the business entirely.

He doesn’t make decisions. He’s not on the board. He doesn’t opine. We don’t consult him. He’s got some litigation that he’s working through, and frankly, he wants the privacy and the time to work through it, which is great. In the meantime, we’re going to keep building TKO and WWE, expanding the horizon and expanding the opportunities. He’s still a shareholder, not the shareholder he once was, but still a shareholder,”

Also Read: TKO President confirms WWE’s stance on sports betting market

Shapiro and Vince also discussed the recently released Netflix documentary titled ‘Mr. McMahon. The mini-series explored the controversial yet influential life of the former CEO. The TKO president revealed that the former CEO needed time to work through his legal problems.

Furthermore, Shapiro stated that McMahon was still a shareholder in the company. However, he clarified that McMahon was not a majority shareholder like he once was. As per the most recent filing, Vince McMahon still holds 8 million shares, equating to approximately 5% of the company.

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