Latest news with #DenverDebacle
Newsweek
14 hours ago
- Business
- Newsweek
Vince McMahon Sells Significant Amount Of TKO Shares
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Former WWE Chairman Vince McMahon has continued to divest his holdings in TKO Group Holdings, selling another significant block of stock valued at approximately $250 million. This latest transaction, detailed in an SEC filing made on Wednesday, June 4, 2025, saw Endeavor purchase the shares from McMahon. Endeavor, the majority owner of TKO, was taken private by equity firm Silver Lake earlier this year. The filing indicates that Endeavor acquired 1,579,080 shares of Class A common stock from McMahon at $158.32 per share. This sale reduces McMahon's remaining stake in TKO Group Holdings, the parent company of WWE and UFC. According to Wrestlenomics' Brandon Thurston, assuming no other transactions since September 2024, McMahon now holds 6,442,325 shares of TKO, which represents approximately 3% ownership of the company. More news: WWE News: Steve Austin Reveals Real-Life Vince McMahon Confrontation It's important to note that McMahon has no voting rights within TKO. This $250 million sale is part of a larger pattern of divestment by McMahon. Fourteen months ago, around April 2024, he initially listed all of his TKO stock, then over 8 million shares, for sale. Between late 2023 and the spring of 2024, McMahon had already liquidated over $1.5 billion in TKO stock through five distinct sales transactions. Chairman of World Wrestling Entertainment, Vince McMahon, attends the World Wrestling Entertainment "Denver Debacle" press conference at the Hard Rock Cafe, Times Square on May 21, 2009 in New York City. Chairman of World Wrestling Entertainment, Vince McMahon, attends the World Wrestling Entertainment "Denver Debacle" press conference at the Hard Rock Cafe, Times Square on May 21, 2009 in New York new sale to Endeavor now pushes his total TKO stock sales well beyond the $2 billion mark since the TKO merger in September 2023. McMahon resigned as TKO Executive Chairman and from the TKO board in January 2024. His departure followed the filing of a lawsuit by former WWE employee Janel Grant, which includes serious allegations of sexual assault and sex trafficking against McMahon, which he has denied. He also remains a defendant in the "ring boys" lawsuit, alleging negligence related to past abuse, and a shareholder lawsuit concerning the TKO merger process. Amidst these legal challenges, McMahon has been establishing a new sports, entertainment, and media investment firm named 14TH & I, signaling his focus on ventures outside the company he led for decades. There have been rumors that McMahon is interested in buying back WWE, and if he is, then that's great. However, not only does he not have the cash to do so, but also, Endeavor is not looking to sell WWE, which is making them major cash right now. More WWE News: For more on WWE, head to Newsweek Sports.
Newsweek
22-05-2025
- Entertainment
- Newsweek
Triple H Says Vince McMahon Thought Iconic WWE Moment Would Not Work
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. WWE Chief Content Officer Paul 'Triple H' Levesque recently reflected on his poignant in-ring retirement announcement, revealing that former WWE CEO Vince McMahon initially had reservations about how the segment would be received. Levesque, however, perceived the moment as one of triumph and celebration. The powerful segment occurred at the start of night two of WrestleMania 38, hosted at AT&T Stadium. It was there that Levesque formally concluded his storied in-ring career, a decision that followed a serious cardiac procedure for a heart issue from which he has since made a full recovery. Discussing this memorable event on a recent episode of "Stephanie's Places," Levesque shared McMahon's initial perspective. He recounted how McMahon questioned the idea of opening such a grand show with what he perceived as a somber announcement. Levesque detailed the conversation, stating, "The moment in Dallas (at WrestleMania 38), Vince (McMahon) asked me to go open the show. The idea of going and putting my boots in the ring was not what he had in mind. Like, 'Why do you wanna -- I gotta open the show with a downer,' and I said, 'I don't see it as a downer. I see it as kind of a triumphant moment. I'm back." More news: WWE News: Steve Austin Reveals Real-Life Vince McMahon Confrontation In separate news concerning Vince McMahon, developments continue in the sex trafficking lawsuit filed against him, WWE, and former executive John Laurinaitis by ex-WWE employee Janel Grant. An update on May 7th, 2025, indicated that a judge had permitted Grant to proceed with an updated version of her lawsuit against the defendants. Superstar Triple H and Chairman of World Wrestling Entertainment, Vince McMahon, attend the World Wrestling Entertainment "Denver Debacle" press conference at the Hard Rock Cafe, Times Square on May 21, 2009 in New York City.... Superstar Triple H and Chairman of World Wrestling Entertainment, Vince McMahon, attend the World Wrestling Entertainment "Denver Debacle" press conference at the Hard Rock Cafe, Times Square on May 21, 2009 in New York City. MoreFurthermore, a significant decision was made in the legal proceedings to temporarily halt the discovery process in the case. This pause means that the phase where both sides gather evidence and information from each other is currently on hold, pending further legal deliberations or rulings. The lawsuit has scrutinized McMahon and WWE, with allegations detailing serious misconduct. The allowance of the amended complaint and the stay on discovery represent the latest procedural steps in what is expected to be a complex and closely watched legal battle. Triple H has been praised by WWE fans since taking over creative and breathing new life into the product. More WWE News: For more on WWE, head to Newsweek Sports.
