The Vince McMahon era is indeed coming to an end as the ex-WWE Chairman's remaining shares in TKO Group Holdings have been listed for sale.
A filing published on April 12 revealed that 8,021,405 TKO shares belonging to Vince McMahon had been registered for sale. This allows for the shares to be bought and sold with less administrative friction. This move doesn’t necessarily mean that Vince will be selling all of his shares, although he might. Should every share be sold, it would mean that McMahon has no official stake in TKO Group Holdings.
This move comes mere days after McMahon sold 1.642 million shares to Endeavor while TKO purchased 1.853 million shares. These two sales earned McMahon an approximate $293 million.
McMahon unloaded 5.35 million shares in early March and sold 3.48 million more shares that same month. With his 8,021,405 shares, McMahon retains a 4.7% stake in TKO.
A New Era Dawns
McMahon's selling of shares comes at a pivotal time for WWE as the promotion continues to distance itself from the former Chairman. Over WrestleMania week, there was a lot of talk of a 'new era' in WWE with Stephanie McMahon calling this the 'Paul Levesque Era' during WrestleMania 40: Sunday.
It's hard not to notice this 'new era' both on WWE programming and behind the scenes. WWE's changes to its on-screen production have been praised by fans who appreciate the new style of Lee Fitting who has replaced company veteran Kevin Dunn. Behind the scenes, Dan Ventrelle has left WWE as the company's Head of Talent Relations with Triple H and Shawn Michaels overseeing both talent and talent development.