Vince McMahon Selling $713 Million In WWE Stock

WWE Executive Chairman exercises right to sell 30% of current company stock.

Vince McMahon 2023
CNBC

Vince McMahon intends to sell 8.4 million shares in TKO Group Holdings, the newco formed through WWE and the UFC's merger this September.

The 78-year-old is looking to sell approximately 30% of his total Class A common stock in the company, amounting to around $713 million by yesterday's market value. TKO CEO Ari Emanuel and COO Mark Shapiro are seeking to buy $1 million of McMahon's stock. Other TKO directors, meanwhile, are set to pursue approximately $850,000's worth.

TKO Group Holdings itself will then buy around $100 million back from Vince.

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Per the relevant SEC filing:

TKO Announces Secondary Offering of 8,400,000 Shares of Class A Common Stock by a Selling Stockholder
NEW YORK, New York (November 9, 2023) - TKO Group Holdings, Inc. (NYSE: TKO) (“TKO” or the “Company”), a premium sports and entertainment company, today announced that one of its stockholders, Mr. Vincent K. McMahon (the “Selling Stockholder”), intends to offer for sale in an underwritten secondary offering 8,400,000 shares of the Company’s Class A common stock, par value $0.00001 (the “Class A Common Stock”), pursuant to the Company’s shelf registration statement filed with the Securities and Exchange Commission (the “SEC”), of which the Company intends to repurchase from the underwriter approximately $100.0 million of shares of our Class A Common Stock. The Selling Stockholder will receive all of the net proceeds from this offering. No shares are being sold by the Company. In connection with the offering, Ariel Emanuel, the Company’s Chief Executive Officer and director, Mark Shapiro, the Company’s President, Chief Operating Officer and director, and certain other of the Company’s directors have indicated an interest in purchasing up to $1.0 million, $1.0 million and $850.0 thousand, respectively, of the Company’s Class A Common Stock offered in the offering at the public offering price.

McMahon was appointed TKO's Executive Chairman upon the company's formation, having returned to WWE under the same title in January, doing so to facilitate the market-leading wrestling promotion's sale to Endeavor.

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Andy has been with WhatCulture for eight years and is currently WhatCulture's Wrestling Channel Manager. A writer, presenter, and editor with 10+ years of experience in online media, he has been a sponge for all wrestling knowledge since playing an old Royal Rumble 1992 VHS to ruin in his childhood. Having previously worked for Bleacher Report, Andy specialises in short and long-form writing, video presenting, voiceover acting, and editing, all characterised by expert wrestling knowledge and commentary. Andy is as much a fan of 1985 Jim Crockett Promotions as he is present-day AEW and WWE - just don't make him choose between the two.