The WWE-UFC merger under TKO Group Holdings was completed more than a week ago. As a result, Vince McMahonlost majority share power over his company for the first time in almost four decades. Recently, a regulatory filing shed light on the new Executive Chairman’s possible future within the Endeavor-owned promotion. According to it, Vince is hinting towards exiting the family business.
AXIOS has exclusively reported that TKO has registered Vince McMahon’s shares for sale, which were recently valued at $3 billion. Therefore, it allows him to avoid the lockup period that applies to other stockholders, such as Endeavor and Silver Lake. Furthermore, the billionaire’s presence proves to be one of TKO’s greatest liabilities due to his ongoing federal investigation.
Previously, McMahon stepped down from his position as Chairman due to hush-money allegations. He ended up returning in January this year to complete the sale of his promotion. In July, the 78-year-old was served with a federal search warrant and grand jury subpoena. The SEC filing of TKO suggests that Mr. McMahon along with two executives will be “selling stockholders in this offering.”
In fact, TKO itself says in the filing: “Vince McMahon’s membership on our Board could expose us to negative publicity and/or have other adverse financial and operational impacts on our business. His membership also may result in additional scrutiny or otherwise exacerbate the other risks described herein. Any of these outcomes could directly or indirectly have adverse financial and operational impacts on our business.”
Vince McMahon returned earlier this month after recovering from his spinal surgery. Furthermore, he held an employee meeting where he reportedly walked with the assistance of a cane. It will be interesting to see what lies ahead for the Executive Chairman, with his position seemingly in jeopardy.
Mansoor reveals Vince McMahon almost fired LA Knight
WWE released the Maximum Male Models, Mansoor and Mace, yesterday afternoon. Later, the pair disclosed their time with the company during a Twitch stream. Mansoor revealed that Vince McMahon almost fired LA Knightdue to the former not liking the “Max Dupri” character.
“He was going to get fired. He was this close to being let go. For whatever reason, Vince hated his Max Dupri vignettes. He wanted him to be a sniveling little scummy agent,” claimed the 27-year-old. However, LA Knight would soon revert back to his NXT persona after Triple H took over WWE’s creative department.
Afterwards, the MMM tag team would appear sporadically on television. Also, Maxxine Dupri’s departure from the group further averted them from the main roster. Meanwhile, The Megastar asserted his place in WWE as one of the most popular wrestlers in the world currently.
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