Vince McMahon 'lists' his remaining multi-million TKO shares for sale

Vince McMahon is one of the biggest businessmen who has been owning WWE since the 1980’s with Titan Sports. Last year, he sold the shares to Endeavour and merged the company with it to form TKO Groups. With that Endeavour owns the maximum share with 51% and WWE now owns 49%. Although Vince lost the majority he still became the Executive Chairman of the company with Veto Powers.

Earlier this year, Miss. Janel Grant filed a sexual allegation case against McMahon, which let to McMahon resigning from his position. However he still owned 20 million shares, in which he sold a part of his shares earlier this year. However the latest TKO filings reveals that Vince McMahon has listed the remaining multi-million shares for sale.

TKO’s Filing of Vince McMahon’s 8 Million shares for sale

TKO Group Holdings has filed the prospectus related to the resale of 8,258,887 shares of their Class A common shares.

“This prospectus relates to the resale of up to 8,258,887 shares of our Class A common stock by the selling stockholders named in this prospectus or their permitted transferees.”

“On September 12, 2023, World Wrestling Entertainment, Inc., a Delaware corporation (“WWE”) and Endeavor Group Holdings, Inc., a Delaware corporation (“Endeavor”), consummated the business combination of the businesses of WWE and TKO Operating Company, LLC (“TKO OpCo”), which owns and operates the Ultimate Fighting Championship (“UFC”), pursuant to the transaction agreement (the “transaction agreement”), by and among Endeavor, Endeavor Operating Company, LLC, a Delaware limited liability company and subsidiary of EDR (“Endeavor OpCo”), TKO OpCo, WWE, TKO Group Holdings, Inc. (f/k/a New Whale Inc.), a Delaware corporation (“TKO Group Holdings”), and Whale Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of TKO Group Holdings (“Merger Sub”).”

“We are registering the offer and sale from time to time of shares covered by this prospectus pursuant to such stockholders’ registration rights under a registration rights agreement between us and such stockholders. Subject to any contractual restrictions on them selling the shares of our Class A common stock they hold, the selling stockholders may offer, sell or distribute all or a portion of their shares of our Class A common stock publicly or through private transactions at prevailing market prices or at negotiated prices.”

“We will not receive any of the proceeds from the sale of the shares of our Class A common stock owned by the selling stockholders. We will bear all costs, expenses and fees in connection with the registration of these shares of our Class A common stock, including with regard to compliance with state securities or “blue sky” laws. The selling stockholders will bear all commissions and discounts, if any, attributable to their sale of shares of our Class A common stock.”

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