Vince McMahon led WWE for decades, and the company did as Mr. McMahon directed. Now, McMahon is not so much of a factor anymore, and the former Chairman of the Board is selling a lot of the stock he had.
This week, it was reported that Vince McMahon unloaded 8.4 million shares of TKO stock. That was a lot of shares to sell, and a lot of fans wondered what was going on. McMahon’s intentions could have been very complicated.
TKO Group Holdings revealed in a financial filing submitted to the SEC today containing details the following information concerning Risk Factors and potential legal proceedings that might affect their business.
The examination by the special committee, comprised of independent members from WWE’s Board of Directors, into the accusations of misconduct attributed to Mr. McMahon, and any additional claims and investigations, could potentially lead to negative consequences for our business performance, both financially and operationally.
During his 83 Weeks podcast, Eric Bischoff brought up Vince McMahon unloading so much WWE stock. He proposed that it may have been bit of a “f*ck you” move on Mr. McMahon’s part, because he was just called a risk.
“Just in terms of timing it was announced that Vince McMahon is a risk, and then he sells 8 million shares. Do you think that was, ‘Oh, I’m a risk, am I? Well, screw you I’m gonna dump a bunch of stock on the market, let’s see how you think about that?”
When asked if that is how Eric Bischoff took it, the former Executive Director of WWE SmackDown said, “it’s just a thought, I don’t know that Vince is bitter that way, but that’s a lot of money just ot make a point. You can’t — he’s still human. He’s still flawed. If you’ve got that much money, it’s a f*ck you, I don’t know.”
We will have to see what happens next in this situation. Vince McMahon unloading 8.4 million shares of WWE stock certainly brought a lot of attention his direction, and it just may give WWE the kind of attention that they don’t want right now.
What’s your take on Vince McMahon selling so much WWE stock? Let us know what you think in the comments!
Transcription by Ringside News
November 15, 2023 7:07 pm