A new report sheds light on Vince McMahon’s decision to sell a hefty portion of TKO stock.
A November press release from TKO revealed that Executive Chairman of the Board Vince McMahon was selling 8.4 million shares of his Class A stock in the company, approximately 30% of his total 28 million shares.
In an update posted via Brandon Thurston on November 15th, McMahon has since sold the shares at $76.41 per share, bringing a net profit of over $641 million dollars and leaving McMahon with 12% of company shares.
Vince McMahon Not Planning To Leave WWE, Wields “Great Power”
With McMahon selling such a huge portion of his stock in the company, fans began to wonder if he intended to leave the company, particularly after reports that Ari Emanuel had removed McMahon from all creative duties.
However, a new report from Justin Barrasso of Sports Illustrated put that speculation to rest, revealing that McMahon sold his shares simply so that he could be liquid in his finances. Barrasso writes:
“Sources within WWE, however, shared that McMahon has no plans to leave the company. Though the reasons were undisclosed, Sports Illustrated learned that McMahon needed to have the money liquid, which is why he sold such a hefty portion of his stock.
“Multiple sources have indicated that McMahon has no plans to stop working for the company. Even though his role has shifted away from creative, which is overseen by Paul ‘Triple H‘ Levesque, there is no doubt that McMahon still wields great power in the company.”
According to Barrasso, McMahon is focused on handling duties as assigned to him by Endeavor head Ari Emanuel. The relationship between McMahon and Emanuel is said to be a positive one.