8 months ago
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The allegations put against Vince McMahon in the past few months have shaken the wrestling industry to its core. Right after WWE and UFC merged to form TKO, Vince McMahon was given a position in the board of TKO along with a decent amount of shares in the company.
While McMahon resigned from TKO a couple of months ago, the former CEO of WWE reportedly sold 5,350,000 shares of the company for whopping $412 million. Following the sell-out McMahon is still left with around 9% of the company’s shares.
Addressing the rumored sale of TKO’s stock, Eric Bischoff, on a recent episode of Strictly Business, said that McMahon’s shares weren’t a lot to worry about. However, it could make an important swing in the company.
Bischoff stated that while McMahon doesn’t have a lot of voting power in the company, he could get others to vote along the same line and get things done his way. In addition to that, the wrestling veteran also appreciated TKO’s way of handling McMahon’s recent roller-coaster story.
“In combination with other voting shares [who] may vote along the same lines as what Vince may want to vote on? Then it could become meaningful if it’s a close vote. I think TKO has done a great job -– they’ve had to, given the litigation and everything that’s at risk -– of distancing itself from Vince McMahon and other than that 12% voting stock, which could potentially in a very unique situation matter.”
While Vince McMahon’s matter has taken a rest for the past few days, it won’t be surprising if the former CEO of WWE makes the headlines once again with another interesting move. Eric Bischoff, on the other hand, has been quite vocal on WWE’s recent storylines and will continue to address them with WrestleMania on the horizon.
What are your thoughts on Eric Bischoff’s comments regarding the Vince McMahon saga? Drop them down in the comment section below.
