Former WWE CEO Vince McMahon is reportedly signaling his 50-year tenure with the corporation by selling off his remaining shares in TKO, the parent company that owns both WWE and UFC. However, the latest report clarified that the 78-year-old has listed the remaining holdings under the company rather than selling all of his shares at once.
McMahon resigned from his position at the Stamford-based company prior to the Royal Rumble 2024 because of major sex trafficking claims made by John Laurinaitis, who used to be the Head of Talent Relations for WWE. Shortly after these occurrences, he started selling off his stock.
Based on TKO’s most recent closing price of $96.76, a recent report showed that McMahon could sell up to 8.02 million shares, which are worth over $776 million. About these ongoing reports, an official from Sportico noted, “The filing makes the shares eligible for sale, but doesn’t mean they will be sold. In practice across the corporate world, such filings typically result in the sale of the listed shares shortly after.”
Including November, McMahon has made $1.365 billion on the sale of TKO shares. If he sells the rest, he may make more than $2 billion. However, with Vince McMahon on the way to selling his shares and showing no sign of returning to Stamford-based promotion, many speculate he might start a new wrestling promotion. But wrestling great Dutch Mantell doesn’t think McMahon will find any additional opportunities elsewhere.
Dutch Mantell doubts Vince McMahon’s ability to manage a new wrestling promotion
Mantell recently talked about what he thinks about the idea of Vince McMahon starting a new wrestling company after he leaves WWE by selling all of his TKO shares. He offered doubt on it and said McMahon might not try it because he’s afraid of the backlash from his fans he got in recent times.
As Seespotrun transcribed, the WWE veteran said, “No, I don’t believe so… He might do it, and I think he does it because he has the money to do it… But I don’t think he would even try to start a new promotion, because I think he would fear rejection from fans. I think that means more to him than anything. People said, “Ah, he’s an idiot.” He is this, he is that.” And I don’t think he can handle that.”
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