Legendary wrestling promoter Vince McMahon has shocked the wrestling world by announcing that he plans to sell a large portion of his shares in the TKO Sports and Entertainment Group, the parent company of World Wrestling Entertainment. According to reports, McMahon is seeking to raise funds to finance a new venture which he plans to launch at the start of 2021.
McMahon has always held a controlling stake in WWE, and his announcement of this large sale comes as a surprise to the wrestling world. It is believed that a portion of his shares will be sold to external investors, while some of the money will be used to finance his new venture. Although the nature of the venture has not been disclosed, it has been speculated that it may involve the launch of a new wrestling promotion.
Mahon has always been a passionate and successful businessman, and it is no surprise that he is looking to expand his business empire. While it is unclear exactly how much of his shares McMahon will be selling, what is clear is that wrestling fans now have another reason to be excited about WWE’s future.
The news of McMahon’s planned sale has been met with mixed reactions from the wrestling community. Many worry if it will affect the company’s decision making process and the direction it will take in the future. However, there is also a sense of optimism amongst fans that McMahon’s new venture will bring great things for the wrestling world. Whatever happens, McMahon’s announcement is sure to have implications for WWE’s future, and wrestling fans across the world will be keeping close tabs on the development of his new venture.