Vince McMahon sells over 2 million shares of WWE
With all the talk these days in combat sports seemingly surrounding a complete sale of a promotion or a minority stake, the first significant sale didn’t involve UFC or TNA, but rather Vince McMahon of WWE.
On Monday, McMahon sold 2,191,894 shares of WWE stock for approximately $36,165,921 before taxes, said to be for estate planning purposes.
The WWE’s primary owner and creator is left with 37,080,747 shares which represents 48.8 percent of the company. For most of the past 15 years, McMahon had owned closer to 63 percent of company stock before sales over the past few years.
The 70-year-old McMahon said that other than possible sales of stock in his trust, which this represented, he has no current plans to sell any additional stock and intends to continue in his role and Chairman and CEO for the foreseeable future.
WWE stock closed at $17.91 per share today, down slightly (0.02) while the NYSE was up 1.02%.
Dave Meltzer is the founder and lead writer on the Wrestling Observer Newsletter, the weekly constant when it comes to news and reviews in pro wrestling and mixed martial arts for more than 40 years. Dave also co-hosts Wrestling Observer Radio with Bryan Alvarez and had had bylines for The National, Yahoo Sports, MMA Fighting and others.