TKO President Mark Shapiro gives an update on Vince McMahon.
McMahon has been the talk of the wrestling town for the last couple of months, but not for good reasons. The former Chairman of WWE and Executive Chairman of TKO is under federal investigation due to the Janel Grant lawsuit, which alleged that McMahon and John Laurinaitis assauled, abused, and sex trafficked Grant during her time in WWE as a staffer.
During today’s Morgan Stanley Technology, Media & Telecom Conference in San Francisco Shapiro had this to say about McMahon.
We’re not in conversations with him. We don’t know his motives, his plans or his timeline. He doesn’t work for the company, doesn’t come into the office and he’s not coming back to the company. And that’s where we sit.
McMahon made headlines on Monday after selling $420 million in TKO stock. He still owns roughly 9% of its current market value.