Kemo
11-10-2023, 10:03 PM
After WWE and UFC officially merged to form TKO Group Holding on September 12, wrestling fans were curious about what that would mean for the company's Executive Chairman, Vince McMahon. Some have thought his position with the newly formed company would allow him complete control over WWE. However, that has not been the case. He has seemingly been removed from the creative aspect of WWE and is viewed as a "Risk Factor" in the recent TKO SEC Filing. Amid speculation of his future with TKO, he seems ready to sell some of his shares with the company.
TKO shared that the Executive Chairman will sell 8.4 million of his shares. Wrestlenomics Brandon Thurston reported that it makes up about 30 percent of McMahon's 28 million shares in TKO. His shares are valued at over $700 million.
The company also noted that Chief Executive Officer Ariel Emanuel and President and Chief Operating Officer Mark Shapiro want to purchase about a million of McMahon's shares. It's unclear at this time who else in the company is interested in buying more from McMahon.
TKO Group Holdings stock (NYSE: TKO) was down over 8% on Friday morning.
After opening at around $103 in mid-September, the stock crashed to $80 the following week and is trading at $77 per share as of this writing.
After selling his shares in TKO, it does put more uncertainties on McMahon's future with the company. He also loses more power within the company by losing some of his shares. Fans speculate that this could be the beginning of a slow exit of McMahon from the wrestling business.
At 78 years old, the WWE Executive Chairman has not been seemingly as active in WWE's daily business. Under the leadership of the Chief Content Officer and Head Of Creative Triple H, the company has been flourishing and breaking attendance records. It has also been reported that the morale of the talent has improved with the former WWE Champion in charge.
While the future of McMahon's involvement in WWE seems murky, it's worth noting he does still have some power in the company. However, this year has been a major shift in what WWE used to be and will be something fans will want to monitor heading into 2024.
TKO shared that the Executive Chairman will sell 8.4 million of his shares. Wrestlenomics Brandon Thurston reported that it makes up about 30 percent of McMahon's 28 million shares in TKO. His shares are valued at over $700 million.
The company also noted that Chief Executive Officer Ariel Emanuel and President and Chief Operating Officer Mark Shapiro want to purchase about a million of McMahon's shares. It's unclear at this time who else in the company is interested in buying more from McMahon.
TKO Group Holdings stock (NYSE: TKO) was down over 8% on Friday morning.
After opening at around $103 in mid-September, the stock crashed to $80 the following week and is trading at $77 per share as of this writing.
After selling his shares in TKO, it does put more uncertainties on McMahon's future with the company. He also loses more power within the company by losing some of his shares. Fans speculate that this could be the beginning of a slow exit of McMahon from the wrestling business.
At 78 years old, the WWE Executive Chairman has not been seemingly as active in WWE's daily business. Under the leadership of the Chief Content Officer and Head Of Creative Triple H, the company has been flourishing and breaking attendance records. It has also been reported that the morale of the talent has improved with the former WWE Champion in charge.
While the future of McMahon's involvement in WWE seems murky, it's worth noting he does still have some power in the company. However, this year has been a major shift in what WWE used to be and will be something fans will want to monitor heading into 2024.