Vince McMahon is not on his way out of WWE despite recent activity in the stock market.
Recent reports have indicated that McMahon has lost a significant portion of his power within the company following the completion of the merger with UFC and ownership by Endeavor. As the WWE Chairman attempted to make multiple changes to weekly TV in the spring and summer, Ari Emanuel would intervene in September and give full creative power to Triple H.
Further speculation arose as to the future of Vince McMahon when it was announced that 30% of TKO was put up for sale and subsequently sold. With McMahon selling over 8 million shares for $641,844,000, is this an indication that he is considering stepping away?
Brandon Thurston of Wrestlenomics reported that McMahon still has approximately 20 million shares in the company, equating to a 12% stake, 4% down on his share before the multimillion-dollar sale.
As reported by Dave Meltzer on Wrestling Observer Radio, McMahon has not sold stock as he is unhappy with proceedings as this has been done multiple times in the past. In recent years, millions of dollars of shares were sold to restart the XFL. Meltzer also stated that if McMahon’s shares drop below 7 million, that is when he would lose his power on the board of directors and would indicate that a departure is imminent:
[He sold] About 30% or so of his stock, which is a lot lower than it would have been worth not that long ago. But, you know, the decision was made a ways back. And it’s, you know, this is not about him being unhappy or anything like that. He’s been selling his stock for years, you know, because he had majority interest in the company, and then it was down to, you know, he would cut back and cash out.
He sold a lot to fund the second XFL, among other things, but it’s something that he has been constantly doing. I don’t think that it’s anything, you know, people are going like he’s trying to get out or anything like that. When it gets below, if he sells to below 7 million shares. That’s when he’ll lose his board of directors seat at that point I would say, yes, he’s getting out. Until he gets to that level. It’s like, still chairman of the board. He’s not going to get out.
Vince McMahon Labelled As A Financial Risk
Although McMahon has no intentions of departing from his executive position in the near future, multiple shareholders and higher-ups within WWE may be hoping that McMahon consider his position sooner rather than later to save shares from dropping even further. This is because, in the first financial filing of the TKO era, Vince McMahon was labelled as a financial risk factor for the company.
In a new interview, a former WWE Superstar revealed how Vince McMahon was angry that a WrestleMania spot was missed.
If you use any quotes from this article please credit Wrestling Observer Radio and leave a h/t to Inside The Ropes.