Vince McMahon is slowly but surely selling off all of his shares in TKO Group Holdings — the merged company with the UFC and WWE.
In a new filing with the Securities and Exchanges Commission on Monday, McMahon is set to sell off more than 3 million shares of his remaining holdings in the company with Endeavor — parent company and the largest shareholder in TKO — and TKO itself buying back the stock.
McMahon will sell 1,642,970 shares to Endeavor at a price of $89.01 per share, which is discounted from the current price at just over $95 per share on the stock market. All told, Endeavor will pay McMahon $146.2 million for the shares, which will increase the company’s overall ownership share in TKO.
Endeavor just recently decided to go private again after the company sold to Silver Lake, a private equity firm that already owned a major stake in the talent agency turned entertainment conglomerate. Endeavor maintains control over TKO as the largest shareholder in the company and that will only grow larger now after this latest sale to buy back stock from McMahon.
The second transaction for 1,853,724 shares at the same $89.01 price will see TKO pay McMahon $165 million to buy back that stock. TKO will use cash on hand along with a revolving line of credit to fund the purchase before retiring the stock, which is common in these kinds of buy backs.
Once the sale is finalized, McMahon will make $311.2 million from the stock.
Endeavor, TKO buying back over $311 million worth of stock from Vince McMahon - MMA Fighting
