Newly uncovered documents and text messages obtained by Wrestlenomics and POST Wrestling reveal that a top executive who now leads TKO Group Holdings accurately anticipated Vince McMahon’s return to WWE — as well as the company’s eventual sale to Endeavor.
The report, released Monday, includes images of private text messages disclosed as part of the ongoing WWE shareholder lawsuit. The lawsuit alleges that McMahon violated his fiduciary duties by orchestrating WWE’s merger with UFC to form TKO, arguing that the move was designed to preserve McMahon’s control rather than secure the most favorable outcome for shareholders.
Among the most significant revelations is a July 22, 2022 text message from Mark Shapiro, who currently serves as TKO’s president and COO and was a senior Endeavor executive at the time. The message was sent to current TKO Chief Financial Officer Andrew Schleimer and then-Endeavor CFO Jason Lublin — notably on the same day McMahon publicly announced his retirement from WWE.
“Nick and Stephanie are going to take over the WWE for the next nine months,” Shapiro wrote. “Vince [will] be back with a new board, or he will take the company private, or he will sell it/coming to us. The race is on. The courtship is on.”
The message references Nick Khan and Stephanie McMahon, who assumed leadership roles following McMahon’s initial exit. At the time, Shapiro’s certainty appeared speculative — yet events unfolded in near-perfect alignment with his prediction.
McMahon returned to WWE less than six months later, rejoining the board in January 2023 with the stated goal of facilitating a company sale. Just three months after his return, WWE announced its deal with Endeavor, ultimately leading to the formation of TKO.
The newly disclosed records also lend weight to long-standing speculation that McMahon remained involved in WWE’s creative direction in early 2023, including the build to WrestleMania 39. This appears to contradict comments made by Khan during a CNBC appearance, where he stated that McMahon was not involved in creative because he no longer held an executive role at that time.
The shareholder lawsuit challenging McMahon’s actions and the merger process is currently scheduled to proceed to trial in June 2026, a case that could have lasting implications for corporate governance within WWE and its parent company, TKO.
