Vince McMahon Sells 15% Of His WWE Stock In A ‘Forward Contract’
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deadline.comBy Jill Goldsmith CEO Vince McMahon has basically agreed to sell 15% of his stock in the company he founded, contributing to one analyst’s decision to slap a “sell” rating on the shares Wednesday.
WWE last year had promised a transformative deal, presumably selling the WWE Network to a large streaming company. The expectation was that if a deal were struck, it would occur in the first quarter, prior to Wrestlemania 36, which starts April 4,” said analyst Alan Gould of Loop Capital in a note to investors Wednesday. “We do not believe Mr.
McMahon would be entering a prepaid forward contract on 15% of his shares – about 3.5 million of them – in front of such an announcement.
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