Vince McMahon

The former executive has earned nearly $1.2 billion through TKO Group stock sales to date. TKO Group was formed last year through the Endeavor-led merger of UFC and WWE. Endeavor maintains a majority interest in TKO.

The sale comes after McMahon stepped down from his posts at TKO Group due to a lawsuit accusing him of sex trafficking and battery by a former WWE employee.

Slammed by allegations of rape, defecation, sex trafficking and more, Vince McMahon is out at WWE and UFC parent company TKO Group Holdings. “I stand by my prior statement that Ms. Grant’s lawsuit is replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth,” McMahon said Friday evening of the scorching lawsuit against him filed earlier this week. “I intend to vigorously defend myself against these baseless accusations, and look forward to clearing my name. However, out of respect for the WWE Universe, the extraordinary TKO business and its board members and shareholders, partners and constituents, and all of the employees and Superstars who helped make WWE into the global leader it is today, I have decided to resign from my executive chairmanship and the TKO board of directors, effective immediately,” the WWE co-founder added.

Janel Grant accuses the wrestling mogul of coercing her into sex with him and others at the company. She calls the company probe into sexual misconduct allegations a “sham.”

A search warrant was executed on McMahon, 77, on July 17 in response to multiple alleged payments made after being accused by multiple women of sexual misconduct. In its SEC filing on Wednesday, the WWE stated it “has received voluntary and compulsory legal demands for documents, including from federal law enforcement and regulatory agencies, concerning the investigation and related subject matters.” The WWE’s filing also stated that McMahon “went on medical leave” until further notice “after undergoing major spinal surgery.”

WWE today confirmed the return of Vince McMahon to its board and said it’s removed three directors to make room for the former CEO and two of his allies. “Today, we announce that the founder of WWE, Vince McMahon, will be returning to the Board,” said WWE Chair and Co-CEO Stephanie McMahon, Co-CEO Nick Khan and Chief Content Officer Paul Levesque. “We also welcome back Michelle Wilson and George Barrios to our board of directors. Together, we look forward to exploring all strategic alternatives to maximize shareholder value.”

Vince McMahon, the majority owner and former chief executive of World Wrestling Entertainment who retired last year amid a misconduct probe, plans to return to the company and pursue a sale of the business. McMahon, who has majority voting power through his ownership of WWE’s Class-B stock, said Thursday he had told the company that he is electing himself and two former co-presidents and directors, Michelle Wilson and George Barrios, to the board. The move to reinstate McMahon, which the board previously rebuffed, and the others will require three current directors to vacate their positions.

Actions come as the wrestling-company board assesses the damage caused by the former CEO’s secret hush pacts.

World Wrestling Entertainment said Tuesday an independent board probe of former CEO Vince McMahon showed additional unrecorded payments of $5 million, bringing the total to $19.6 million. McMahon resigned from all positions at WWE on July 22 after news broke and the company acknowledged they were investigating him for misconduct and subsequent payouts to women. He remains a stockholder with a controlling interest in the company.

World Wrestling Entertainment said Monday that $14.6 million of  payments by former CEO Vince McMahon from 2006 to 2022 weren’t recorded in the company’s accounts but should have been, and as a result the company will revise some of its previously issued financial statements. McMahon resigned Friday as CEO and chairman of WWE in the midst of a scandal that has the board investigating him for payouts to women, including former employees, in exchange for silence over affairs and inappropriate conduct

In a brief statement issued by World Wrestling Entertainment Friday, Vince McMahon said he is retiring as the company’s chairman and CEO. He noted that he remains its majority shareholder. McMahon stepped down temporarily as CEO and chairman of WWE in mid-June during an investigation into alleged misconduct. Earlier this month, the Wall Street Journal reported McMahon agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity.

The longtime chief of World Wrestling Entertainment Inc. secured nondisclosure agreements to keep secret allegations of sexual misconduct and infidelity.

Vince McMahon is stepping aside as CEO and board chairman of WWE amid an ongoing investigation into claims of misconduct by himself and head of talent relations John Laurinaitis, the company announced Friday. Stephanie McMahon, Vince’s daughter who took a leave of absence last month from her role as the company’s chief marketing officer, will serve as interim CEO and chairman.

The board of World Wrestling Entertainment is investigating a secret $3 million settlement that longtime chief executive Vince McMahon agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board inquiry. The January 2022 separation agreement bars the now-former employee, who was hired as a paralegal in 2019, from discussing her relationship with McMahon or disparaging him, the people said.

Major League Wrestling is accusing WWE and its CEO Vince McMahon of forcing Tubi to scuttle a streaming deal with MLW in a new lawsuit. The lawsuit, which was filed on Tuesday in California, also goes on to accuse McMahon of intimidating Vice TV, which had a programming deal with MLW, out of airing more content from the upstart wrestling league.

Dwayne Johnson, Dany Garcia and RedBird Capital have acquired the XFL. Founded by WWE CEO Vince McMahon, the football league was scheduled to go bankruptcy auction today, but Johnson, Garcia and RedBird acquired its parent company, Alpha Entertainment, for approximately $15 million.

As the bankrupt XFL looks for a buyer, the buyer could be its founder. XFL creditors “seem to believe” McMahon is positioning to buy the league out of bankruptcy. Separately, XFL President Jeffrey Pollack has contacted stadiums in Seattle and St. Louis about reinstating the league’s lease agreements.

Advertisers have been slow to the table to support the newly-revived XFL league, which kicks off this weekend. Interest is finally stirring, according to ESPN and ABC, but uncertain audience engagement and the memory of past alternative pro-football league failures cast a shadow over its prospects.

“The XFL has a good chance to become a small, viable opportunity for clients based on its WWE ownership backing,” says Adam Schwartz of Horizon Media. “I don’t think the XFL will ever become the NFL, but if the product is strong, it will get viewers to watch and, perhaps, to gamble on the games [and] that will draw more viewer interest.”

Vince McMahon’s second try at the XFL announced its eight team names and logos on Wednesday. The rebooted league, which had an ill-fated attempt that lasted just one season in 2001, will begin play next February on the weekend following Super Bowl LIV.

This is the second time Vince McMahon has launched a football league. The networks will start airing its games its games when the new league starts on Feb. 8, 2020, after the NFL season ends with the Super Bowl. The first version of the XFL — a joint venture of WWE and NBC — lasted one season in 2001.