AXIOS has uncovered a big story regarding Vince McMahon and his current status with WWE following their merger with UFC and Endeavor. The new entity is now known as TKO.
Vince McMahon currently holds 28.84 million TKO shares, which are valued at $3 billion dollars as of yesterday’s market close. TKO has registered all of McMahon’s shares for sale, meaning McMahon is able to avoid the lockup period that applies to other TKO stockholders like Endeavor and Silver Lake.
According to TKO’s SEC filing plan that dropped last month McMahon, along with two other TKO executives, “will be selling stockholders in this offering.” This was done to give TKO and McMahon some flexibility as he continues to be investigated by the federal government for payouts he made to cover up potential sexual allegations. As we previously reported, the LA Times had a story where attorney Jacob Frenkel told the publication that McMahon could suffer more repercussions, including financially, as his case continues to be investigated.
Through some deep research AXIOS revealed that TKO had this to say about McMahon in the SEC Filing:
“Vince McMahon’s membership on our Board could expose us to negative publicity and/or have other adverse financial and operational impacts on our business. His membership also may result in additional scrutiny or otherwise exacerbate the other risks described herein. Any of these outcomes could directly or indirectly have adverse financial and operational impacts on our business.”
At this time neither TKO nor McMahon has commented on this new information, nor is it known what the future will hold for McMahon’s current position.