Endeavor Management Team To Buy Shares In TKO Group Holdings As Former WWE Chief Vince McMahon Sells Almost One-Third Of His Stake
deadline.comVince McMahon, the longtime former CEO of WWE, is selling nearly one-third of his stake in TKO Group Holdings. The wrestling impresario is unloading 8.4 million shares, which had a market value of around $700 million as of Thursday’s close.
Last summer, McMahon was listed as owning 28 million shares in TKO, the newly formed parent of WWE and UFC. Endeavor, which owns the UFC, holds a 51% controlling interest in TKO, which began trading last September.
In connection with McMahon’s sale, an SEC filing said, Endeavor, CEO Ari Emanuel; President and COO Mark Shapiro; and other members of Endeavor’s board of directors have “indicated an interest” in picking up TKO shares worth $100 million.
Emanuel and Shapiro are in line to buy $1 million in stock apiece, with an unnamed director ticketed for $850,000. No shares are being sold by the company as part of the transaction, a press release noted.
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