“Vince McMahon About To Cash In On A Big Piece Of WWE Payday!
Vince McMahon, the legendary professional wrestling magnate, has reportedly revealed plans to sell a big portion of his stake in World Wrestling Entertainment's parent company TKO. Despite the uncertain future of the wrestling industry, which has been devastated by the coronavirus pandemic, McMahon is reportedly planning to soon offload a large portion of his shares in the publicly traded TKO. The transaction would leave McMahon with a holding of around 30% in the company, and be a major shakeup of the company's infrastructure. McMahon has been the Chairman and CEO of World Wrestling Entertainment since 1982, and his central role in the growth of the company is a major factor in the decision to sell a portion of his stake. The massive deal is anticipated to raise around $500 million, and could provide a boost for the company at a time when the future of professional wrestling is coming into question. The exact date and amount of the transaction, as well as the recipients of the shares has not been revealed, though details are expected to emerge in the coming weeks and months. The sale of McMahon's shares in TKO will likely have a major impact on the WWE and its future, and all eyes will be on the situation going forward.