Vince McMahon, the longtime face of professional wrestling and former WWE CEO, has sold a sizable chunk of his remaining shares in TKO Group Holdings to Endeavor Group Holdings, marking another step away from the empire he helped build.
Endeavor — now operating as the privately held WME Group — purchased approximately 1.579 million shares of TKO’s Class A common stock directly from McMahon in a private transaction, according to a regulatory filing with the Securities and Exchange Commission on Wednesday.
The deal, valued at $250 million, was struck at a price of $158.32 per share and closed on Wednesday, according to the filing.
McMahon’s public and financial ties to WWE and TKO have steadily diminished since a wave of controversy engulfed him in early 2024.
He stepped down from the TKO board of directors in January after being accused of sexual assault and sex trafficking by a former WWE employee in a civil lawsuit. McMahon has “categorically denied” the allegations.
Janel Grant, a former WWE employee, says she was forced by her then-boss into non-consensual encounters with him and others at the company.
Last week, one of McMahon’s co-defendants, John Laurinaitis, reached a confidential settlement with Grant that stipulates he will cooperate with her attorneys and possibly testify against the wrestling mogul.
An attorney for McMahon said that the agreement between Laurinaitis and Grant “doesn’t alter the facts of this case in any way” and that the mogul “never mistreated” her.
The transaction bolsters Endeavor’s position as the dominant stakeholder in TKO Group, which was created in 2023 through the merger of WWE and UFC.
Following the latest stock acquisition, Endeavor now controls 61.7% of TKO’s outstanding shares.
This sale represents the latest move by McMahon to reduce his financial and strategic involvement in the combat sports and entertainment company.
As of April 15, McMahon still held approximately 8 million shares, giving him a 9.8% economic stake and 4.1% of the company’s voting power, per TKO’s most recent annual report.
The latest divestment brings his total TKO stock sales to over $2 billion, including a $311.2 million sale in April 2024 that involved shares purchased by both TKO and Endeavor.
The latest sale also coincides with broader changes at Endeavor.
Earlier this year, the company was taken private in a $25 billion deal led by private equity firm Silver Lake, which had long been a major backer of Endeavor and its CEO, Ari Emanuel.
The privatization effort was viewed as a way to restructure Endeavor’s sprawling holdings — which include talent agency WME, sports properties like UFC and PBR and the merged TKO entity — away from the pressures of public markets.
McMahon, who turned WWE into a global juggernaut over four decades, relinquished full operational control when the company merged with UFC under Endeavor’s leadership last year.
Despite holding a seat on the new company’s board, his role quickly came under scrutiny due to mounting legal challenges and shifting corporate priorities.
His departure from the board, coupled with his recent sales, signals a deeper retreat from the wrestling world that once revolved around his persona.
Representatives for TKO Group and WME Group declined to comment on the transaction beyond what was disclosed in the SEC filing.
McMahon has not issued a public statement regarding the stock sale.
