Earlier this year, Vince McMahon stepped down from his position within the WWE amidst the controversy surrounding former employee Janel Grant’s lawsuit. Now, there’s a fresh update on the 78-year-old’s connection to the company.
McMahon’s resignation came ahead of Royal Rumble 2024 in January, following the troubling allegations made by Grant. Accusations of sex trafficking have been leveled against him, with former Head of Talent Relations John Laurinaitis publicly opposing McMahon in light of these claims.
Today, Brendan Coffey of Sportico reported that McMahon has divested his remaining shares in TKO Group Holdings, Inc. The company filed a prospectus revealing McMahon’s intention to sell his 8.02 shares, valued at over $776 million.
Additionally, Nick Khan is set to sell all 234,424 of his shares in the company but will retain his official position within it. Last September, WWE merged with Endeavor Group Holdings, Inc., the parent company of UFC, to form TKO Group Holdings, Inc.
WWE veteran comments on the possibility of Vince McMahon starting a new promotion
Discussing McMahon’s potential venture into starting a new promotion post his WWE exit, wrestling legend Dutch Mantell recently weighed in on the matter, deeming it highly improbable.
During an appearance on Sportskeeda Wrestling’s Smack Talk show, Mantell shared his thoughts on McMahon’s rumored return to professional wrestling with a new promotion.
He expressed skepticism, suggesting that McMahon might be deterred by fear.
“Nah, I don’t believe that… He may be, and I think he does it because he’s got the money to do it… But I don’t think that he would even attempt to start a new promotion, because I think he would fear the rejection of the fans. I think that means more to him than anything. People would say, ‘Ah, he’s an idiot’. He’s this, he’s that’. And I don’t think he can handle that,” Mantell remarked.
McMahon’s absence from this year’s WrestleMania, as shared by his trainer, underscores the uncertainty surrounding his future beyond the WWE. As speculation mounts, the wrestling world awaits McMahon’s next move with bated breath.
