Amidst rumors swirling online that former WWE Chairman Vince McMahon wants to buy back WWE over two years since its initial sale to Endeavor Group Holdings, a new report indicates he owns even less stock in the company than before. In the latest edition of "The Wrestling Observer Newsletter," Dave Meltzer reportedthat Endeavor purchased 1.93% of TKO shares, a total of 1,579,080, from McMahon on Tuesday for $250 million.
Meltzer confirmed the sale would give Endeavor 62% ownership of TKO Group Holdings, which includes WWE and UFC. McMahon still has almost 6.5 million shares, worth over $1 million. He owns 7.9% of TKO stock, or just over 3% of WWE, UFC, and the rest of TKO's companies.Meltzer wrote in the newsletter that the sale was part of stock buybacks by Silver Lake West, the company that put up a majority of the money to purchase the UFC.
McMahon remains embroiled in multiple legal battles, including the "Ring Boy" lawsuit filed against him, Linda McMahon, and WWE in the Maryland District Court where five anonymous plaintiffs alleged the McMahons failed to protect them from sexual abuse in the 1980s at the hands of former ring announcer Mel Phillips. The McMahons and TKO filed to dismiss the lawsuit in April.
The former chairman is also being sued by former employee Janel Grant, who alleged abuse and sex trafficking by McMahon in an initial suit in January 2024. An amended version of the lawsuit was accepted by a judge in May. Former WWE head of talent relations John Laurinaitis was also initially named in the suit, but entered a private settlement with Grant that dismisses him from the suit in exchange for providing evidence.
