Ex-WWE Chairman Vince McMahon's $412 million sale goes through; takes place days after replacement announcement

Ex-WWE Chairman Vince McMahon's $412 million sale has gone through days after the Stamford-based company announced his replacement.

Mr. McMahon is no longer the WWE Chairman or even part of the TKO Group Holdings. He resigned after allegations came out from a lawsuit by ex-WWE employee Janel Grant. Since his name was included in the scandal, the former chairman stepped down from his position.

The document showed that he had sold TKO shares worth approximately $412 million. The 78-year-old had sold 5.35 million shares in the market at a price of $77.

It is now confirmed that the sale has gone through. While the initial report came out on March 5, 2024, it was confirmed on March 7, 2024.

He still has approximately 15 million shares within the company.

The sale came days after Ari Emanuel was announced as the new Executive Chair of the board while still holding the position of CEO. Meanwhile, Steven R. Koonin was appointed to become the Lead Independent Director in a new position. The announcement came on February 22, 2024, with the sale coming within two weeks of the same.

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Vince McMahon once threatened to fine a former WWE star for flirting

Former WWE star Mario Mancini revealed that once when he had been flirting with some of the audience members, he was confronted by Vince McMahon.

While speaking in an exclusive interview on Sportskeeda Wrestling's UnSKripted podcast, he expressed that he was told if he was outside the dressing room again, then Mr. McMahon would fine him.

"When I became a professional wrestler, I found a whole other world of fans. One time I was by the steel barricades in the back of a dressing room in Brantford, Ontario, signing autographs and you know, chilling with the ladies. And everybody was smiling and everything and all of a sudden everybody's face just went straight. I said, 'Gee, how come everybody...' I looked over my shoulder and it was Vince. He said are you here to have a good time or to work?' And I go, 'Well Vince, I try to do both.' And he goes, 'I see you outside the dressing room again, I am gonna fine ya.'"

Vince McMahon was known to do whatever he thought was needed to keep his superstars in line.