Vince McMahon captured lot of attention when he sold 8.4 million shares of TKO stock. Although some have theorized that this was retaliatory move, it appears that things are going along with business as usual.
During Wrestling Observer Radio, Dave Meltzer mentioned how Vince McMahon selling 8.4 million shares of TKO stock is nothing to be concerned about. He only unloaded about 30% of what he had, and he still has plenty to maintain control of the company.
Vince McMahon has also sold company stock for a while, as have others in the company. So, as long as he keeps 7 million shares, then he is still on the board of directors.
“This is not about him being unhappy or anything like that. He’s been selling stock for years, because he had majority interest in the company, and he would cut back and cash out. He sold a lot to fund the second XFL run, among other things. It’s something that he’s been constantly doing.”
“I don’t think that it’s anything to be, you know, ‘he’s trying to get out’ or anything like that. When it gets below, if he sells to below 7 million shares, that’s when he’ll lose his board of directors seat. When it gets to that level, it’s like ‘oh he’s getting out,’ but until he gets to that level he’s not going to get out.”
It was also noted that if Vince McMahon timed his sale better, then he could have made several million more dollars. That being said, someone as rich as Vince McMahon can stand to not make as much as they can in that regard.
We will have to see what Vince McMahon does next. Selling so much TKO stock certainly piqued a lot of interest from all over, as the world watches McMahon’s wallet. Now, he has a lot less stock, but he is still in a position of power with TKO.
What’s your take on Vince McMahon selling so much company stock? Let us know what you think about this in the comments section!
Transcription by Ringside News
November 16, 2023 7:15 am