[ad_1]
Vince McMahon is once again making some financial moves, this time by selling his shares in TKO. But there’s a twist this time – TKO is actually buying back those shares from McMahon.
In a recent SEC filing, it was revealed that TKO has agreed to purchase 1,642,970 shares from McMahon, valued at $142.6 million. But that’s not all – they have also agreed to buy an additional 1,853,724 shares for $150 million, bringing the total transaction to a whopping $293 million. According to Brandon Thurston from WrestleNomics, this means that McMahon now only holds 4.7% of TKO’s total shares.
You can read the full SEC filing below for all the nitty-gritty details.
On April 4, 2024, WME IMG, LLC (a subsidiary of Endeavor Group Holdings, Inc.) entered into a stock purchase agreement with Vincent K. McMahon. In this deal, Endeavor agreed to buy 1,642,970 shares of TKO’s Class A common stock from McMahon at $89.01 per share, totaling $146.2 million. This transaction is expected to close around April 9, 2024, pending the usual closing conditions.
On April 7, 2024, TKO itself entered into a stock purchase agreement with McMahon, agreeing to purchase 1,853,724 shares of TKO’s common stock from him at the same price of $89.01 per share, totaling $165.0 million. This deal is expected to close around April 10, 2024. TKO plans to retire these shares after the transaction is completed, and they will be funding this purchase with $150.0 million in borrowings and cash on hand.