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While TKO has been distancing itself from former WWE CEO Vince McMahon, it appears that things are playing out differently with the former WWE Chairman no longer connected with the company at all potentially in the future. A new report has emerged about the former boss' status with the company.
Ever since the emergence of the allegations against Vince McMahon in the Janel Grant lawsuit, the company has distanced itself from him. He stepped down from his position on the board and was no longer connected other than with the huge amount of stock he held.
Since then, the ex-chairman has been putting parts of his shares on sale for massive amounts of money. Quite a few sales have gone through, and it now appears that things have headed to another level.
According to a TKO Group filing with the SEC, all of Vince McMahon's remaining shares are now registered for sale. They have not been sold yet, but they are up for sale now. This will be his exit as an owner if the sales take place.
At this time, he holds around 5% of the stock, making a huge amount of cash as a result.
What McMahon has planned for his cash is not clear at this time, or if he has a plan at all. However, it should be noted that his agreement had a 12-month non-compete in the wrestling business should he choose to enter it. So, he cannot enter the space until at least January of next year.
Vince McMahon's potential exit from WWE comes after a very successful WrestleMania under Triple H
Should the sale go through, Vince McMahon's potential exit comes after WWE's most successful WrestleMania.
it was also the first-ever event that was held by the company where he was not involved at all. Triple H was the one calling the shots and as announced by Stephanie McMahon, it was the start of a whole new era in the company - the Paul Levesque Era.
