In a press release and SEC filing Thursday, TKO, the company formed from the merger of WWE and UFC, announced that Vince McMahon is selling 8.4 million shares of his stock.
The news follows an announcement in September that 28 million shares of McMahon's TKO stock — all of it — would be placed up for sale. But while that filing expressed a future intent, this one is slightly different, as the sale is underwritten by Morgan Stanley and MUFG Securities Americas, meaning the banks have promised to sell the shares for McMahon, with McMahon keeping the profits .
While it's not totally clear what McMahon's future plans are, and whether this heralds his exit from the company, the announcement does follow reports that McMahon was removed from creative control of WWE television programs and directed to focus on securing television rights deals for the company instead.
Vince Mcmahon TKO Stock Sale Press Release SEC Filing Merger WWE UFC Shares Morgan Stanley MUFG Securities Americas
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