New SEC Filing Hints That Vince McMahon May Leave WWE

WWE is going through a lot of changes. The company merged with UFC and is now under TKO, and the brand-new company came with cuts already. Over 100 employees were fired from WWE, and a slew of main roster releases followed.

A recent SEC filing has shed light on a potential desire by Vince McMahon to distance himself from WWE following the recent merger with Endeavor, which united WWE and the UFC.

It’s important to note that Vince McMahon remains under federal government investigation, with a search warrant executed by federal authorities after a federal grand jury issued a subpoena to McMahon on July 17th. To date, no charges have been brought against him in connection with allegations of sexual misconduct and infidelity dating back to 2006.

As previously reported, Jacob Frenkel, Chair of Dickinson Wright’s Government Investigations & Securities Enforcement Practice Group and a former senior counsel in the SEC’s Division of Enforcement, expressed the possibility that McMahon could face criminal or civil liabilities that might compel him to step away from his role within WWE.

Following the merger, Vince McMahon currently holds 28.84 million shares of TKO, which are presently valued at $3 billion. That is a huge chunk of the new company, but he is not the majority shareholder.

AXIOS has reported on the registration filings made by TKO, highlighting that Vince McMahon’s registration allows him to bypass the lockup period that applies to other TKO stockholders such as Endeavor and Silver Lake.

TKO initially revealed its registration plan in an SEC filing in August, indicating that McMahon, alongside two other TKO executives, “will be selling stockholders in this offering.” This suggests the potential for Vince McMahon’s eventual departure from the company.

In a regulatory filing, TKO acknowledged that “McMahon’s membership on our Board could expose us to negative publicity and/or have other adverse financial and operational impacts on our business. His membership also may result in additional scrutiny or otherwise exacerbate the other risks described herein. Any of these outcomes could directly or indirectly have adverse financial and operational impacts on our business.”

Vince McMahon was observed using a cane to navigate stairs and address WWE employees this week, having undergone spinal surgery during the summer.

We will have to see what happens next. WWE certainly went through a tremendous change over the past year, and it’s anyone’s guess what Vince McMahon will be doing in 2024.

What’s your take on WWE’s future? Sound off in the comments to let us know what you think!