Former WWE Chairman Vince McMahon has sold around $250 million (Rs 21,46,11,24,900) worth of stock in TKO Group Holdings, the parent company of WWE and UFC, according to The New York Post. The sale was conducted privately with Endeavor Group Holdings. This significant stock liquidation comes as McMahon faces an ongoing sex trafficking lawsuit and works on launching a new entertainment venture. The move marks a major financial step amid his current legal difficulties.
Vince McMahon has long been the prominent figurehead of WWE, recognized worldwide for his role in professional wrestling. However, since a series of controversies emerged in early 2024, his public and financial connections to WWE and TKO have gradually weakened.
The transaction, valued at $250 million, was completed at a price of $158.32 per share and finalized on Wednesday, according to official filings, according to The Post.
He stepped down from the TKO board of directors in January after being accused of sexual assault and sex trafficking by a former WWE employee in a civil lawsuit. McMahon has "categorically denied" the allegations.
Janel Grant, a former WWE employee, says she was forced by her then-boss into non-consensual encounters with him and others at the company.
Last week, one of McMahon's co-defendants, John Laurinaitis, reached a confidential settlement with Grant that stipulates he will cooperate with her attorneys and possibly testify against the wrestling mogul.
An attorney for McMahon said that the agreement between Laurinaitis and Grant "doesn't alter the facts of this case in any way" and that the mogul "never mistreated" her.
The transaction bolsters Endeavor's position as the dominant stakeholder in TKO Group, which was created in 2023 through the merger of WWE and UFC.
