On Monday evening, TKO Group Holdings – the parent company of WWE – announced that Vince McMahon has disclosed his intention to sell approximately 25% of his holdings in the company.
In the report filed with the U.S. Securities and Exchange Commission, TKO disclosed that McMahon is seeking to sell 5,350,000 Class A common shares, valued at $411,950,000 as of the filing date. The report listed McMahon as a “former Director” of TKO, as he had resigned from his positions of Executive Chair and member of the Board of Directors on January 26, 2024, after he was named in a lawsuit that accused him of sexual assault and human trafficking.
This intended sale marks the second time in recent history that McMahon has sold a substantial number of his shares in TKO. In November 2023, he sold 8.4 million shares for approximately $670 million.
After this sale, McMahon will own approximately 14.25 million shares in TKO, representing about 17% of the voting shares.