He’s still in. To say that WWE has changed a lot in the last few months would be a huge understatement. The biggest change has come at the top of the company, as Vince McMahon is no longer in full control of WWE. He is still part of TKO, WWE’s new parent company, but now things have changed a little bit, as McMahon is cutting some of his ties to the company.
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According to a press release from TKO Group Holdings by way of CNBC, McMahon is planning to sell 8.4 million shares of his stock in the company. This is a value of about $700 million. Following the announcement, the company’s stock value dropped about 5% after closing at $84.90 a share. It is not clear what this means for McMahon’s future in the company, where he is still a member of the Board Of Directors.
WWE has had some sales before. Check out some of its moments over the years:
Opinion: This is an interesting change as it seems McMahon is attempting to take some steps out of the wrestling industry. It is hard to imagine him not being a part of the company that he turned into such a force but that seems to be the case again. At the end of the day he is going to be gone though, and now it seems that he may be walking away with quite the payday.
What do you think of the move? Will McMahon stay in WWE? Let us know in the comments below.
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