On April 13, 2024, former WWE Chairman Vince McMahon entered a preliminary filing to put all of his remaining shares in WWE’s parent company TKO up for sale. McMahon had over eight million shares left in the company after selling approximately $1.365 billion worth of shares since November 2023, with many suspecting that McMahon might have been looking for a way out of the business.
That now seems to be the case, as a new prospectus released by TKO Group Holdings has revealed that a total of 8,258,887 shares are officially up for sale, including the 8,021,405 shares held by McMahon, meaning that when all is said and done, McMahon will no longer have any link to WWE in any capacity.
The remaining shares being sold belong to WWE President Nick Khan, who has also registered to sell the entirety (234,424) of his own TKO shares, as well as restricted stock units he has amassed over time. In reporting the story, Sportico’s Brendan Coffey spoke to a source who claimed Khan will remain in his position within TKO despite the move, and said a spokesperson for TKO declined to comment. While neither McMahon’s nor Khan’s shares have not been sold at the time of writing, it is typical in the corporate world for shares to be snapped up shortly after they are put up for sale.
With over two billion dollars worth of stock sold over the past six months, if his remaining shares are indeed sold, McMahon will no longer be tied to WWE for the first time since purchasing the company from his father in 1982.
McMahon stepped down from both WWE and the TKO board in January 2024 after former WWE employee Janel Grant filed a lawsuit against him, WWE, and former Head of Talent Relations John Laurinaitis, in which she accused McMahon of sex trafficking and coercion, and executives within WWE of turning a blind ey
Source: .wrestlinginc.
In other news – Jub Jub gets his passport back as his bail conditions are relaxed
The Johannesburg Magistrates Court has relaxed the bail conditions of TV presenter and musician Molemo “Jub Jub” Maarohanye.
On Tuesday, his defence Advocate Terrence Baloyi applied for the bail conditions of his client to be relaxed and the verdict was heard today. Read more
The post Vince McMahon & WWE President Nick Khan Put All Their Remaining TKO Shares Up For Sale appeared first on News365.co.za.
Zim Instantly via Simplex Solutions