UFC and WWE’s parent company TKO has reportedly lost stocks of Vince McMahon.
Last year, Vince McMahon sold the WWE to Endeavor Group Holdings, which combined WWE with UFC into a new public company. Through this, McMahon was allotted shares of the newly formed company as well.
The deal took place less than six months ago and now, Vince McMahon has filed to sell 5.35 million shares of TKO. The share are estimated to be valued at around $411 million. Interestingly, these are just about a quarter of the shares that are owned by McMahon.
The news was broken out after a Form 144 was filed with the Securities & Exchange Commission earlier this week. Form 144 is required by the SEC to be filed when or before the shares are actually sold on the market.
Vince McMahon came out of retirement last year to orchestrate the sale of WWE with the parent group of UFC, Endeavor. As the new company was formed, McMahon took on the role of executive chairman. He stepped down from the position in January after he a lawsuit was filed against him accusing him of sexual assault.
Dana White credits Vince McMahon for brokering huge deal in Saudi Arabia
Over the past few months, there have been rumors about how the UFC would be heading to Saudi Arabia. The rumors were recently confirmed and it was revealed that the promotion will hold the events for the first time in Riyadh this year.
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Speaking about the same during an interview with Sports Business Journal, Dana White revealed that Vince McMahon played a vital role in finalizing the deal. He said:
“It was Vince McMahon. It was 100% Vince McMahon. He made every call, he didn’t make on more without picking up the phone and calling me and getting me in the loop, and seeing if I was cool with this and that. He went from being, oddly enough, I don’t know why, an enemy to being an unbelievably incredible partner.”
That said, it remains to be seen when the UFC finally head over to Saudi Arabia this year.
Also Read: Anthony Joshua vs Francis Ngannou UK Time and TV: Where To Watch The ‘Knockout Chaos’ Live At GMT?
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