Update On Vince McMahon's WWE Future Following Sale Of TKO Shares
Latest on Vince McMahon and his WWE future
Vince McMahon looked to make some money in the past week as the Executive Chairman of TKO Group Holdings sold 8.4 million of his shares in the company for $641 million. This was approximately 30 percent of the shares the 78-year-old held in the organisation.
McMahon has seen his power within WWE dwindle as a result of the sale to Endeavor and merger with UFC under TKO as he is no longer the head of WWE creative, with McMahon now spending his time overseeing the media rights negotiations for WWE's TV deals in the United States, among other duties.
While he is no longer the main player in WWE, McMahon isn't looking to cash out of the company, according to Dave Meltzer on Wrestling Observer Radio.
"The decision [to sell some of his shares] was made a ways back. This is not about him being unhappy or anything like that. He has been selling his stock for years because he had a 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 has been constantly doing. I don't think it's anything to be like, 'Oh he's trying to get out' or anything like that," Meltzer said.
"If he sells to below seven million shares that's when he will lose his board of directors seat. At that point that would say he's getting out. Until he gets to that level and is still Chairman of the Board he's not gonna get out."
Vince McMahon still holds 20,435,207 shares in TKO Group Holdings. This is approximately 12 percent of the organisation.
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