Endeavor, TKO buying back over $311 million worth of stock from Vince McMahon

Vince McMahon is slowly but surely selling off all of his shares in TKO Group Holdings — the merged company with the UFC and WWE.

In a new filing with the Securities and Exchanges Commission on Monday, McMahon is set to sell off more than 3 million shares of his remaining holdings in the company with Endeavor — parent company and the largest shareholder in TKO — and TKO itself buying back the stock.

McMahon will sell 1,642,970 shares to Endeavor at a price of $89.01 per share, which is discounted from the current price at just over $95 per share on the stock market. All told, Endeavor will pay McMahon $146.2 million for the shares, which will increase the company’s overall ownership share in TKO.

Endeavor just recently decided to go private again after the company sold to Silver Lake, a private equity firm that already owned a major stake in the talent agency turned entertainment conglomerate. Endeavor maintains control over TKO as the largest shareholder in the company and that will only grow larger now after this latest sale to buy back stock from McMahon.

The second transaction for 1,853,724 shares at the same $89.01 price will see TKO pay McMahon $165 million to buy back that stock. TKO will use cash on hand along with a revolving line of credit to fund the purchase before retiring the stock, which is common in these kinds of buy backs.

Once the sale is finalized, McMahon will make $311.2 million from the stock.

The latest stock sale distances McMahon further and further away from the company after he resigned from TKO following a lawsuit filed against him from a former employee at WWE accusing him of sexual assault, sex trafficking and other offenses. McMahon proclaimed his innocence but ultimately stepped away from TKO where he previously served as the executive chairman.

His resignation signaled the end of the McMahon era with WWE, a company he founded and ran for over 40 years.

This past weekend, WWE put on the first ever WrestleMania event without McMahon running the show behind the curtain with many performers celebrating the new leadership at the company, primarily headed up by WWE chief content officer, Paul “Triple H” Levesque.

In addition to his split with the company, McMahon has also been selling off his stock in TKO for several months with the last transaction happening as recently as March after he dumped another $100 million worth of shares in the company.

Between the various transactions, McMahon has gotten back more than $1.4 billion from stock sales in TKO.

Following this latest sale, McMahon’s ownership share in TKO drops to approximately 8 million shares in the company. McMahon pledged 7.17 million of his shares “to secure his obligations under loans” from various banks including Morgan Stanley.

While McMahon remains a sizable shareholder in TKO, the stock available for the 78-year-old billionaire to sell is nearly all gone after this latest transaction.

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