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Vince McMahon resigned from the promotion earlier this year after the lawsuit by former WWE employee Janel Grant came to light. There has now been another update on the 78-year-old's status with the company.
Mr. McMahon resigned from WWE ahead of Royal Rumble 2024 in January after the disturbing allegations by Grant were made public. He has been accused of sex trafficking the former employee, and former Head of Talent Relations John Laurinaitis has come out against McMahon following the allegations.
It has been reported today by Brendan Coffey of Sportico that McMahon has now sold his remaining shares in TKO Group Holdings, Inc. TKO filed a prospectus today showing that McMahon could sell the 8.02 shares he holds in the company, which is worth more than $776 million.
It was also noted that Nick Khan will be selling all of his 234,424 shares in the company but will remain in his official position in the company. The promotion merged with Endeavor Group Holdings, Inc., the parent company of UFC, last September to form TKO Group Holdings, Inc.
WWE veteran comments on the possibility of Vince McMahon starting a new promotion
Wrestling legend Dutch Mantell recently discussed Vince McMahon possibly starting another promotion after his WWE exit although he claimed it was highly unlikely.
Speaking on Sportskeeda Wrestling's Smack Talk show, Mantell commented on McMahon possibly returning to professional wrestling with a brand new promotion. The pro wrestling veteran claimed that it was unlikely and suggested that McMahon might be too afraid to even try it.
"Nah, I don't believe that... He may be, and I think he does it because he's got the money to do it... But I don't think that he would even attempt to start a new promotion, because I think he would fear the rejection of the fans. I think that means more to him than anything. People would say, 'Ah, he's an idiot'. He's this, he's that'. And I don't think he can handle that," said Mantell. [From 1:05:33 - 1:06:11]
You can watch his comments in the video below:
McMahon's trainer recently shared that the former CEO did not get to attend this year's WrestleMania event in Philadelphia. It will be interesting to see what the future holds for him outside of the company.
