Vince McMahon and Nick Kahn are selling all their TKO shares

WWE founder Vince McMahon is finalizing his exit from TKO Group Holdings by selling his remaining shares, potentially severing his ties with the business he shaped over 50 years.

McMahon, who started with WWE in the 1960s, became a billionaire by transforming it into a leading sports entertainment brand. Last year, after stepping down amid sexual misconduct settlements, McMahon engineered WWE’s sale to Endeavor Group Holdings, which merged WWE into the newly formed TKO.

TKO Group Holdings, established through Endeavor Group Holdings’ acquisition of WWE last year, disclosed in a prospectus on Friday that Vince McMahon is selling up to 8.02 million shares he owns in the company. These shares are valued at over $776 million, based on TKO’s closing price of $96.76 on Friday.┬áSince November, McMahon has already sold shares worth $1.365 billion and could surpass $2 billion with this sale.

WWE president Nick Khan has also listed to sell all his shares, including restricted stock units totaling 234,424 shares. Nick Khan is currently serving as the President and Chief Revenue Officer of WWE. He took on this role in August 2020, bringing with him a wealth of experience in entertainment and sports media.

As WWE President, Khan has been a key player in strategic decisions, especially those involving media rights and business development. His tenure has seen significant deals, such as the agreement with Peacock, which saw WWE Network’s exclusive streaming rights in the United States move to NBCUniversal’s Peacock service in a deal reportedly worth over $1 billion.

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