Vince McMahon is hinting at leaving WWE amidst mass releases - Reports
In a new finding in a recent SEC filing, Vince McMahon is setting the stage for an eventual exit from WWE. The development comes to light when the company has kicked off another round of roster cuts.
As highlighted in an Axios report, the newly-formed TKO Group Holdings has registered Vince McMahon's shares for sale, which exempts him from being in a lockup period, something that other shareholders like Endeavor and Silver Lake would have to follow.
At the time of the market's closing, McMahon's 28.84 million TKO shares were valued at $3 billion. TKO's registration plan was revealed in an SEC filing from last month on page 184, which specifically stated that two other TKO Executives apart from Vince McMahon "will be selling stockholders in this offering," giving the WWE boss the flexibility with his shares.
The wording in the filing was also brought up, clearly hinting at the possibility of a day when Vince McMahon would quit the company. It wouldn't be the first time, however, as the 78-year-old has been pushed out of the promotion once before owing to serious allegations of sexual misconduct.
The heat on one of pro wrestling's most controversial personalities still hasn't died down as he was served with a grand jury subpoena in July, but the feds have yet to charge him for a crime.
Vince McMahon, however, is still under government investigation and, as reported earlier, could face criminal and civil liabilities based on the findings, forcing him out of WWE again.
The apparent leak about Vince McMahon's potential exit has conspicuously coincided with many talents being released and the announcement of WWE's TV deal with USA Network for SmackDown, impacting TKO's stock prices. The timing of it all has given rise to much speculation, and a recent Sean Ross Sapp hinted towards the reasoning:
Is TKO prepared for Vince McMahon's WWE departure?
WWE and UFC joining forces to form a multi-billion dollar conglomerate has been viewed as Vince McMahon's way of returning despite being under intense scrutiny.
The former world champion might be an important member of the TKO Board, but even the new combat sports powerhouse understands the risks of having Mr. McMahon as a top executive.
As you can see in the organization's regulatory filing below, it was made clear that retaining Vince McMahon could attract "negative publicity" if he faced legal proceedings.
"McMahon's membership on our Board could expose us to negative publicity and/or have other adverse financial and operational impacts on our business. His membership also may result in additional scrutiny or otherwise exacerbate the other risks described herein. Any of these outcomes could directly or indirectly have adverse financial and operational impacts on our business."
A report has also revealed whether Triple H had a say in the recent releases, and you can read more on that right here.