Vince McMahon, the billionaire wrestling mogul, has big plans for the future as he intends to sell a large portion of his stake in WWE parent company, TKO. It is estimated that McMahon currently owns approximately 8.4 million shares of the company, which account for over 26% of the entire equity.
The potential sale that McMahon is contemplating could see about 3 million of his shares changing hands, and depending on how the market fares, it would net the former WWE chairman somewhere between $110 and $190 million.
The exact details of the proposed sale are still unknown but it is believed to be part of a strategy to help McMahon diversify his portfolio. It is also possible that McMahon is simply looking to capitalize on TKO’s impressive market performance in the past few months as shares have risen from a low of $113 in July to the current level of $213.
McMahon’s role at TKO is unclear following the sale, but he is still expected to have a say in the company’s strategic direction. For instance, McMahon will remain a board member and is believed to have significant voting power on certain decisions. However, his departure from TKO will have implications for other shareholders in the company as the amount of stock that he holds is significant.
For now, this is all speculation but it is a development that investors and wrestling fans should watch out for as it could have major influence over the future of WWE. It remains to be seen what this sale could mean for the company in the long run, but McMahon’s move could inject new capital into TKO and potentially fund further expansion and growth. It also adds an interesting twist to the ongoing shareholder battle between McMahon and other major investors for control of TKO.