3% Share

In a recent development, former WWE Chairman Vince McMahon has reportedly sold approximately $400 million worth of his stock in TKO Holdings, WWE's parent company. As a result, McMahon now holds an 8.3% share of TKO, down from his previous 12%.

The news comes after Eric Bischoff, speaking on the "Strictly Business" podcast, commented on McMahon's stake in TKO. Bischoff pointed out that while a 12% share may not seem significant at first, it could become influential if combined with other voting shares that align with McMahon's preferences.

"In combination with other voting shares [who] may vote along the same lines as what Vince may want to vote on? Then it could become meaningful if it's a close vote," said Bischoff. However, he also suggested that McMahon's relationship with TKO, aside from the voting stock, might not have much practical impact.

Acknowledging the ongoing litigation against McMahon, Bischoff praised TKO Holdings for their handling of the situation. "I think TKO has done a great job -- they've had to, given the litigation and everything that's at risk -- of distancing itself from Vince McMahon," he commended.

Bischoff further speculated that McMahon might eventually sell off his shares or pass them on to his family members upon his death. "Vince will eventually cash out or his family will inherit his shares upon death. Technically it could [matter], but practically I don't think it'll ever matter," he added.

The exact reasons behind McMahon's decision to sell a significant portion of his TKO stock remain unknown. However, the sale brings his stake down to 8.3%, potentially reshaping the power dynamics within the company.

It is worth noting that the allegations against Vince McMahon are yet to be proven in court, and the case against him is still ongoing. Only time will reveal the outcome of the legal proceedings and whether they will impact McMahon's position in TKO Holdings.

As of now, McMahon's sell-off of TKO stock underscores his actions to distance himself from the company, while still maintaining a notable ownership stake. Industry insiders will be closely watching how this move may influence the future direction of both WWE and TKO Holdings.

Should any further developments arise regarding Vince McMahon's shares in TKO or the ongoing litigation, Wrestling Inc. will provide updates accordingly.

Please credit "Strictly Business" and acknowledge Wrestling Inc. for the transcription of quotes used in this article.