Vince McMahon needed to be liquid. As the Executive Chairman of TKO Group Holdings, which is the Endeavor-owned banner under which WWE and UFC operate, McMahon made headlines a month ago when it was revealed he was selling $700 million in TKO stock. Selling 8.4 million shares represented nearly 25 percent of McMahon’s holdings in TKO. The sale was disclosed in a securities filing last month, and it immediately raised questions over McMahon’s long-term future with WWE.
Sources within WWE, however, shared that McMahon has no plans to leave the company. Though the reasons were undisclosed, Sports Illustrated learned that McMahon needed to have the money liquid, which is why he sold such a hefty portion of his stock.Multiple sources have indicated that McMahon has no plans to stop working for the company. Even though his role has shifted away from creative, which is overseen by Paul “Triple H” Levesque, there is no doubt that McMahon still wields great power in the company.The focus for McMahon is handling the items assigned to him by Endeavor CEO Ari Emanuel. All accounts internally are that their working relationship remains a positive one.
Dana White, who is the UFC CEO, spoke with Sports Illustrated last week, and he highlighted McMahon’s value to the TKO enterprise.
“We didn’t have a great history before this,” said White. “Now that we’re partners, Vince could not be a better partner. And you know me–if it wasn’t the case, I wouldn’t give a f— and I’d say so. But that hasn’t been the case. He’s been a great partner.”
Source: sicom
In other news – Details for Zahara’s memorial service announced
Details of the memorial service for Zahara have been announced. Zahara, real name Bulelwa Mkutukana, died on Monday evening surrounded by family and loved ones.
An official statement shared by the family on the singer’s pages confirmed the news. Read more
