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President of TKO Mark Shapiro addressed Vince McMahon’s status and stock holdings during recent TKO Financials call. Despite McMahon’s resignation from his role as TKO Executive Chairman on January 26, he maintains a significant portion of the voting power due to his controlling shares in stock.
“Obviously, we’re talking about Vince McMahon, specifically, in terms of cashing stock. He still holds, I believe, 20 million shares. It’s all registered. He’ll do whatever he is going to do and we’re on the sidelines, we’ll have a look, we’ll see, we have no idea on timing. We’re not having a discussion with him. He’s given us no point of view on his motive or if he plans to sell or not sell or if he does, how much. We’re going to wait around and find out, just like you,” Shapiro stated during the call.
This comment sheds light on the uncertainty surrounding McMahon’s intentions regarding his stock holdings. Despite speculation, there has been no communication from McMahon regarding his plans to sell or retain his shares, leaving TKO and investors alike in the dark.
The discussion surrounding McMahon comes amidst legal troubles for the former WWE executive. On January 25, a lawsuit was filed by former WWE employee Janel Grant against Vince McMahon, WWE, and former executive John Laurinaitis. The lawsuit alleges McMahon’s involvement in sex trafficking, emotional abuse, and sexual assault.
McMahon has vehemently denied these allegations, but the lawsuit adds another layer of complexity to his already scrutinized public image.
What impact do you anticipate McMahon’s significant stock holdings could have on TKO’s operations and shareholder confidence moving forward? Let us know in the comments below.
February 27, 2024 6:14 pm
