Former WWE Chairman Vince McMahon will sever his last ties to the wrestling promotion by selling his TKO shares and ending a fifty-year association with the company… as he wrestles a trial for sex trafficking

Vince McMahon will end his fifty-year association with WWE by selling his remaining shares in TKO to confirm his exit from the wrestling promotion.

On Friday, TKO filed a prospectus stating that McMahon would sell up to 8.02 million shares he holds in the company, worth £77.48 each and around £620 million in total .

McMahon has worked for WWE since the 1960s, before eventually buying the company from his father and turning it into a sports entertainment brand and the biggest name in professional wrestling – while making himself a billionaire in the process. road.

In 2022, he briefly retired following allegations of sexual misconduct, but managed to stage a return to the company at the end of that year to facilitate the sale of the company.

Endeavor Group Holdings purchased the company in September last year, merging it with the UFC to form a new publicly traded name, TKO – with McMahon as executive chairman.

Former WWE boss McMahon has put all of his remaining TKO shares up for sale, worth well over £500 million.

By selling his shares, McMahon will end his more than fifty-year association with the company

Paul ‘Triple H’ Levesque took control of WWE and ushered in a new era of success

However, in January the 78-year-old was forced to resign following allegations of sex trafficking, which he denied.

Since his departure, McMahon’s son-in-law Paul “Triple H” Levesque has taken over the creative reins at WWE and has been credited with the company’s recent boom.

WWE has seen back-to-back sell-out shows for its live events in the US and last week’s UK tour, as well as for flagship television productions Raw and SmackDown.

Earlier this month, they broke revenue records for WrestleMania 40, making it the biggest and highest-grossing WrestleMania in history.

Janel Grant sues McMahon, WWE and another employee for sex trafficking

McMahon, meanwhile, is facing a lawsuit after former WWE employee Janel Grant accused the billionaire of sex trafficking and claimed he defecated on his head during a threesome, among other things.

Grant also claimed she suffered bruising and bleeding after McMahon forcibly penetrated her with sex toys, which he named after his wrestler and alleged that McMahon and another WWE executive had locked her in a room at WWE headquarters in Stamford, Connecticut in June 2021 and were taking turns. sexually assaulting him.

The allegations led to McMahon’s departure from WWE, but his daughter Stephanie McMahon remains with the company and recently made her first public appearance since her father’s resignation, when she hosted the second night of WrestleMania in Philadelphia.

Also included in the prospectus was WWE Chairman Nick Khan, who has filed to sell what appears to be his entire holdings, 234,424 shares, but will remain in his position with the company.