Vince McMahon, formerly a board member of TKO Group Holdings, has once again captured headlines, this time for unexpected reasons, with TKO and Endeavor acquiring a substantial portion of his stake.
According to Brandon Thurston, recent filings indicate that TKO Group Holdings is purchasing shares from McMahon.
In two separate agreements, Endeavor is poised to obtain 1,642,970 shares for $142.6 million, while TKO Group is acquiring an additional 1,853,724 shares for about $150 million.
This culminates in a total transaction value of approximately $293 million.
Upon the completion of these transactions, which are expected to be finalized on Tuesday and Wednesday of this week, McMahon will retain ownership of 8,021,405 TKO Group shares, equating to approximately 4.7% ownership of TKO.
This development comes after McMahon recently sold nearly $100 million worth of shares, involving the divestment of 3.5 million shares to an undisclosed bank over a 20-day period last month.
The ramifications of these actions for McMahon’s future prospects remain uncertain, leaving observers curious about what lies ahead for the wrestling magnate.
As stated above, the legendary WWF/WWE promoter will continue to be a minority shareholder, but he won’t have any saying, any power or any vote about the decisions within WWE.
Rumors of him still secretly running WWE through Bruce Prichard were already denied by various sources.
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