Vince McMahon has sold $311 million worth of TKO shares back to the company and Endeavor, bringing his total earnings from stock sales to about $1.5 billion. This comes after his resignation from the board of TKO Group in January 2024 amidst sexual assault and sex trafficking allegations, which he has strongly denied. Meanwhile, WWE's WrestleMania 40 marked the highest-selling single night in WWE history with in-person attendance of 72,755, and Stephanie McMahon made a surprise appearance at the event. Endeavor, which recently announced a deal to go private with private-equity firm Silver Lake, is not including TKO Group in the transaction and it will remain a publicly traded company.
Vince McMahon, former WWE executive, is selling $311.2 million worth of TKO stock to the company and Endeavor, further distancing himself from the sports entertainment firm. This move comes after McMahon's exit from the company in January and follows TKO's acquisition of WWE. The stock repurchase plan will increase Endeavor's ownership stake in TKO, while Triple H has been given creative control and Dwayne "The Rock" Johnson has joined as a board member.
TKO Group Holdings, the parent company of UFC, has agreed to pay $335 million to settle two class-action lawsuits filed by former UFC fighters alleging antitrust law violations. The lawsuits claimed that UFC paid fighters less than they were entitled to and engaged in anticompetitive actions. The settlement will be paid in installments over time and is subject to court approval.
TKO Group Holdings, the parent company of the UFC, has agreed to pay $335 million to settle a lawsuit filed by fighters nearly a decade ago, just before a trial was scheduled to start. The fighters had claimed that the UFC violated the Sherman Antitrust Act by abusing its monopoly power to limit their pay. The settlement will be paid in installments over an agreed-upon period of time and is subject to judicial approval. This comes as TKO, which is 51% owned by Endeavor, faces legal challenges unrelated to the UFC suits, including a bombshell lawsuit against former WWE executive chairman Vince McMahon and a class-action suit alleging a "sham sales process" in the merger of the UFC and WWE.
TKO Group Holdings President Mark Shapiro addressed Vince McMahon's recent stock selloff, stating that the company did not participate and is not in conversation with McMahon. McMahon retired from TKO earlier this year amid sex trafficking allegations, which also involve former WWE Champion Brock Lesnar. The allegations have led to legal action and federal investigation, impacting WWE's creative plans and partnerships.
TKO President Mark Shapiro affirmed that Vince McMahon is not returning to the company after selling $412 million in TKO stock, reducing his holdings to 15 million shares. McMahon abruptly left the board amid a sexual abuse lawsuit and has been distancing himself from the company. Despite his significant role in transforming WWE into a global media enterprise, McMahon has faced allegations of sexual harassment and misconduct, including a recent lawsuit from a former employee, which he intends to fight.
Vince McMahon sold over five million shares in TKO Group Holdings, the parent company of WWE, netting over $400 million. Following the sale, McMahon still owns 15 million shares, about nine percent of TKO stock, and remains executive chairman of the company. McMahon resigned from TKO in January after being named in a sex-trafficking lawsuit and accused of covering up the alleged rape of a former WWE talent.
Vince McMahon cashed in $400 million by selling over 5 million shares in WWE-parent TKO Group Holdings, following his resignation over sex-trafficking allegations. The sale comes after a lawsuit by former WWE employee Janel Grant, who accused McMahon of sexual abuse and trafficking. McMahon still owns 15 million shares in the company. Other sexual assault allegations against him have also surfaced, including claims by WWE star Ashley Massaro. McMahon is reportedly under federal investigation over Grant’s claims.
Vince McMahon, who resigned from his role as executive chairman of TKO Group Holdings in January, is selling off over $400 million worth of stock in the company, following a previous sale of $700 million worth of stock in November. This move comes after McMahon left the company due to a lawsuit filed against him by a former WWE employee. Endeavor, the parent company to TKO Group Holdings, acquired WWE and maintains a 51-percent controlling interest over the company. McMahon's latest stock sale raises questions about the future ownership of the company.
Dwayne 'The Rock' Johnson has acquired the rights to various WWE catchphrases, nicknames, and taglines from his wrestling days, including "The Rock," "Candy Ass," and "If you smell what The Rock is cooking." This transfer of intellectual property comes as part of his deal to join the board of directors of TKO Group Holdings, formed by Endeavor, which merged WWE and the UFC. Johnson also received $30 million in TKO stock and $491,000 in royalty payments from WWE, with ongoing royalties and rights for licensed products.
Dwayne Johnson, also known as The Rock, now owns the intellectual property rights and trademarks to his WWE stage name and a plethora of associated nicknames, catchphrases, and insults, including "Jabroni" and "Candy Ass." This comes as part of a deal with WWE owner TKO Group Holdings, which also granted Johnson a stock award valued at $30 million and the ability to collect royalties from merchandise sales bearing The Rock trademarks.
Vince McMahon's tenure as executive chairman of TKO Group Holdings, the owner of WWE, came to an end following a bombshell lawsuit from a former WWE employee accusing him of sex trafficking and battery. The lawsuit led to a major sponsor pausing its promotional activities, impacting the company's bottom line. McMahon ultimately resigned from TKO, with the company seeking to distance itself from his alleged past transgressions. The lawsuit's graphic details took senior leadership and company talent by surprise, prompting TKO to take the matter seriously and act immediately. McMahon's departure may allow the company to move forward without his influence, but his significant ownership stake still raises questions about his long-term impact on TKO.
Shares in TKO Group Holdings fell as investors weigh potential downside from the lawsuit filed against Vince McMahon and former WWE talent chief John Laurinaitis by former employee Janel Grant, who accused them of sex trafficking, battery, and rape. WWE's Chief Content Officer Paul Levesque, known as "Triple H," touted the company's recent successes and chose to focus on the positives when asked about the controversy. Analysts are cautious about TKO's stock due to the legal risks and Vince McMahon's significant ownership stake in the company.
WWE Chief Content Officer Triple H commented on The Rock joining TKO Group Holdings' Board of Directors, expressing excitement about the opportunity to have The Rock's expertise and influence. He also discussed the future of WWE, emphasizing the importance of honoring the company's rich history and engaging with wrestling legends. Despite recent controversies, WWE's product remains popular, and fans are eager to see what Triple H and the creative team have planned for WrestleMania 40.
Vince McMahon has resigned from his role as executive chairman of TKO Group Holdings, the parent company of WWE and UFC, amid allegations of rape, assault, and sex trafficking. The resignation comes after former WWE employee Janel Grant filed a lawsuit accusing McMahon of coercing her into a sexual relationship, sharing naked images of her with senior WWE staffers, and forcing her into group sex situations. McMahon denied the claims but announced his resignation out of respect for the company and its stakeholders. This isn't the first time McMahon has faced sexual misconduct accusations, and the lawsuit comes at a pivotal time for TKO, which recently announced a $5 billion deal with Netflix.
