Vince McMahon, After Quitting TKO Board, Is Selling $311 Million in Stock Back to Company and Endeavor
variety.comTodd Spangler NY Digital Editor Vince McMahon continues to cash out of his stock in TKO Group Holdings, the company formed by the merger of WWE and UFC that is majority-owned by Endeavor.
McMahon, the founder of WWE, resigned from the board of TKO Group in January 2024 in the wake of sexual assault and sex trafficking allegations against him by a former employee as detailed in a lawsuit.
McMahon has strongly denied the allegations. On April 7, McMahon entered into a stock sale agreement with TKO, which will purchase 1.85 million of his shares of in TKO at a per share price of $89.01 for an aggregate amount of $165 million, per an SEC filing Monday.
TKO intends to retire the shares of stock purchased under the pact; the company intends to fund the TKO share repurchase with approximately $150 million from a revolving credit facility and with cash on hand.
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