Endeavor And TKO Group Are Buying $311M More In Stock From Vince McMahon, But The Disgraced Ex-WWE Boss Still Has A Large Stake

Dade Hayes
·2-min read

More of former TKO Group Executive Chairman Vince McMahon’s large stake in the company is changing hands, with Endeavor and TKO agreeing to buy a combined $311.2 million of his stock.

In an SEC filing, Endeavor Group said it would buy shares worth about $146.2 million. TKO Group Holdings, which Endeavor controls, will buy another $165 million in stock.

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The moves follow recent comments about McMahon’s TKO position by Mark Shapiro, who is president and COO of TKO and Endeavor. On TKO’s quarterly earnings call in February with Wall Street analysts, he said the company was “on the sideline” waiting to see if McMahon would be shedding any more of his holdings. He noted that McMahon at that time still owned about 20 million shares in TKO even after selling more than 8 million last November for more than $700 million.

McMahon has needed to shore up funding for his legal expenses. The pro wrestling impresario abruptly exited as board chairman early in 2024 after a graphic lawsuit was filed by a former employee, accusing him of sex trafficking and sexual assault. Having built the WWE into a lucrative global business and cultural force over more than four decades, McMahon oversaw the merger of the wrestling organization with the UFC in a $21.4 billion combination that created TKO.

Asked on the call about the prospect of the company buying additional shares from McMahon, Shapiro said the management team would “have a look.” He added that the parties are not in any dialogue and McMahon would not have a role in the company in the future. “We’re not having any discussion with him,” Shapiro said. “He’s given us no point of view on his motive or his plans to sell or not sell, or if he does, how much. So, we’re going to wait around and find out just like you.”

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