Kemo
04-08-2024, 09:18 PM
WWE is in a new era under Triple H, and that means the old guard is becoming a thing of the past. Vince McMahon ran the company for decades, but he will soon have even less of a stake in the business.
New filings indicate that TKO and Endeavor are in the process of acquiring shares from Vince McMahon.
Through separate agreements, Endeavor is set to purchase 1,642,970 shares for a sum of $142.6 million, while TKO is poised to acquire an additional 1,853,724 shares for approximately $150 million. This amalgamation of transactions amounts to a grand total of roughly $293 million.
Upon the completion of these deals, which are slated to be finalized on Tuesday and Wednesday respectively, Vince McMahon will retain ownership of 8,021,405 TKO shares. A straightforward calculation reveals that post-transaction, Vince's stake in TKO will go down to around 4.7%.
1777308839492136974
Vince McMahon has unloaded a lot of WWE stock in recent memory. McMahon sold even more TKO Stock at the end of March, as he unloaded 3,484,006 more shares. This sale added to the 5,350,000 shares he sold in early March.
McMahon resigned from the company after Janel Grant's lawsuit went public. Slim Jim pulled their sponsorship just before the 2024 Royal Rumble event, and that was the final nail in his proverbial coffin.
Ultimately, McMahon was urged by TKO CEO Ari Emanuel and TKO President and COO Mark Shapiro to resign. Now, Vince is no longer an active part of the company, and it appears that he will have even fewer shares soon enough.
New filings indicate that TKO and Endeavor are in the process of acquiring shares from Vince McMahon.
Through separate agreements, Endeavor is set to purchase 1,642,970 shares for a sum of $142.6 million, while TKO is poised to acquire an additional 1,853,724 shares for approximately $150 million. This amalgamation of transactions amounts to a grand total of roughly $293 million.
Upon the completion of these deals, which are slated to be finalized on Tuesday and Wednesday respectively, Vince McMahon will retain ownership of 8,021,405 TKO shares. A straightforward calculation reveals that post-transaction, Vince's stake in TKO will go down to around 4.7%.
1777308839492136974
Vince McMahon has unloaded a lot of WWE stock in recent memory. McMahon sold even more TKO Stock at the end of March, as he unloaded 3,484,006 more shares. This sale added to the 5,350,000 shares he sold in early March.
McMahon resigned from the company after Janel Grant's lawsuit went public. Slim Jim pulled their sponsorship just before the 2024 Royal Rumble event, and that was the final nail in his proverbial coffin.
Ultimately, McMahon was urged by TKO CEO Ari Emanuel and TKO President and COO Mark Shapiro to resign. Now, Vince is no longer an active part of the company, and it appears that he will have even fewer shares soon enough.