Vince McMahon sells off a significant amount of TKO stock 

Former WWE CEO and current Executive Chairman of TKO Group Holdings, Vince McMahon, is reportedly selling off a significant amount of his TKO shares.

According to a report from Dave Meltzer, McMahon is selling over 8 million of his TKO shares. This is out of the total 28.84 million shares McMahon is said to own. The sale includes roughly 30% of his shares to the tune of 713 million dollars.

At this time, there is no word on what this means for McMahon's role within TKO Group Holdings itself.

This news comes one day after an SEC filing from TKO stating that the company saw "Mr. McMahon’s membership on our Board" as a potential for "negative publicity" and "other adverse financial and operational impacts on our business."

In June 2022, Vince McMahon stepped down as CEO and Chairman of WWE due to an internal investigation into alleged affairs within the company. In April of this year, WWE merged with UFC parent company Endeavor. WWE was sold to Endeavor in a $9.3 billion deal, making the new company, TKO Group Holdings, have a combined valuation of over $20 billion.

This news is breaking, with likely more updates to come.