TKO and WWE have maintained their distance from Vince McMahon in the wake of the lawsuit that claims he engaged in sex trafficking, shared explicit videos and nude photos of Janel Grant without permission, and other things involving the former WWE employee.
When the suit was revealed, McMahon resigned from his position at TKO. The lawsuit also named the company and its former executive, John Laurnatis.
McMahon has been cashing out his TKO stock in recent months, with the most recent transaction taking place on Monday, when he sold 5,350,000 TKO shares for $412 million. He had previously sold stock in November for $612 million. He still owns about 15 million shares, or roughly 9% of all TKO stock.
TKO COO Mark Shapiro spoke at the Morgan Stanley Conference today, noting that McMahon has nothing to do with the company and will not return.
Shapiro stated, “He doesn’t work for the company. He doesn’t work at the company … and he’s not coming back to the company.”
Shapiro says TKO did not participate in Vince McMahon's most recent stock sale. He roughly has 8.5%. We don't talk to him, we don't know his motives, his plans, his timelines. He doesn't work for the company. He doesn't come into the offices. He's not coming back to the company.
— Brandon Thurston (@BrandonThurston) March 6, 2024
TKO president Mark Shapiro says they have no connection with Vince McMahon for his recent $411 million stock sale. Vince has nothing to do with WWE anymore:
“He doesn’t work for the company. He doesn’t work at the company … and he’s not coming back to the company.”#WWE #UFC
— Damon Martin (@DamonMartin) March 6, 2024
