Vince McMahon Sells Over 2 Million Shares of WWE Stock
With rumors of a UFC sale circulating, stockholders are on edge in other sports and entertainment companies. So it’s understandable why some would be a bit freaked out to learn Vince McMahon has just sold over 2 million shares of WWE stock.
On Monday, Vince sold 2,191,894 shares totaling approximately $39,256,821. The sale is reportedly for “estate planning purposes,” which should relieve at least some of the shareholders worried about a sale. At the very least, Vince assured shareholders he has no plans on selling the company or giving away majority stake.
This leaves Vince with 37,080,747 shares representing 48.8 percent of the company. This is still a majority interest, although not nearly as high as in previous years, as Vince had owned closer to 63 percent of WWE stock prior to several sales in the past couple years. Ultimately, Vince has no current plans to sell any more stock outside of possible sales from his own personal trust. And, of course, he plans to remain on-board as Chairman and CEO of WWE. Because, really now, the notion of WWE ever being run by someone from outside the McMahon family seems downright crazy — even if there’s an argument to be made that the family has been deliriously out-of-touch with their audience in recent years.
Anyway, what do you think about all of this? Would you ever want to see the McMahons sell WWE? Or should it remain a family business? Sound off in the comments!
And for more WWE news, find out who Batista really doesn’t want to fight at any future Wrestlemanias!