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Update On Vince McMahon Remaining in Control at WWE

Posted By: Ben Jordan Kerin on Nov 16, 2023

Update On Vince McMahon Remaining in Control at WWE

Vince McMahon has recently sold a significant portion of his TKO Group stock, leading to speculation about his future role in the company.

On November 9th, it was revealed that Vince McMahon intended to sell 8.4 million shares of his TKO stock, approximately 30% of his total 28 million shares in the company.

Dave Meltzer, speaking on Wrestling Observer Radio, commented on Vince McMahon’s sale of shares, highlighting the threshold of stock ownership McMahon needs to maintain to keep his position on the TKO Board:

"This is not about him being unhappy or anything like that. He’s been selling his stock for years because he had a majority interest in the company, and then it was down to – he would cut back and cash out.

He sold a lot to fund the second XFL, among other things, but it’s something that he has been constantly doing. I don’t think that it’s anything to be – people are going like he’s trying to get out or something like that. When it gets below – if he sells to below 7 million shares that’s when he’ll lose his board of directors seat at that point, that would say, yes, he’s getting out. Until he gets to that level he’s still chairman of the board. He’s not going to get out."

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— Ben Jordan Kerin Nov 16, 2023 09:24AM

Source: tjrwrestling.net
Tags: #wwe #vince mcmahon #tko

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