Reports revealed earlier this month that Vince McMahon was planning to sell 8.4 million of his TKO stock. Looks like he scored a major payout, as such.
Breakdown Of Vince McMahon’s TKO Share Sale
Brandon Thurston of Wrestlenomics initially broke the story around VKM’s TKO stock selling. Looks like he was interested in unloading 30 percent of his 28 million shares in the organization.
Thurston recently provided a breakdown on X/Twitter. It seems Vince McMahon sold 8.4 million shares at $76.41 each share. This is the price after a commission and underwriting discount to Morgan Stanley.
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This scored him $641,844,000 in total. According to Thurston, the Executive Chairman still holds 20 million shares, which equals out to 12 percent of the organization, a decrease from his initial 16 percent.
It’s important to note that VKM needs to hold 7 million shares to stay on as Executive Chairman of the company. Still, there is other news when it comes to TKO and the WWE.
McMahon “Okays” WWE Advertising Change
In the past, Vince McMahon has been against logos and advertising featured around the ringside area and ring canvas. However, it looks like his decision on this has changed.
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A lot has to do with TKO Group’s recent earnings. Looks like he’s now on board with advertising in the above-mentioned areas.
In fact, he’s in favor of increased ads in and around ringside. Apparently, this is something WWE’s CEO, Nick Khan, has been pushing for a while now.
The announcement of Endeavor purchasing the WWE sent shockwaves through the industry and was revealed right after WrestleMania 39 in April of this year. Still, the deal was “sealed” in September of this year, and the company now falls under the TKO umbrella, along with the UFC.
