Vince McMahon Officially Severs Ties With The WWE

27/04/2024 00:19

For the first time in several decades, Vince McMahon won't be connected to the WWE.

Sportico has just reported that McMahon is selling the last of his shares in TKO Group Holdings. That'll essentially end his business with the WWE. 

McMahon started off as a commentator for the WWE, once known as the World Wide Wrestling Federation. In 1982, he bought the company from his father.

From Sportico's report:

TKO, which was formed with the purchase of WWE last year by Endeavor Group Holdings, filed a prospectus Friday afternoon showing that McMahon may sell up to 8.02 million shares he holds in the company, worth more than $776 million at TKO's closing price of $96.76 Friday.

Even though McMahon led the WWE to new heights, it's impossible to ignore his legal situation. 

In January, a lawsuit was filed against McMahon that accused him of sex trafficking. Janel Grant, a former employee for the WWE, accused him of putting her through "physical and emotional abuse." 

A few years earlier, McMahon reportedly agreed to pay $12 million to four women in an effort to silence their sexual misconduct and infidelity claims.

The WWE has not released a statement yet regarding McMahon's decision to sell his TKO shares.