TKO Buys $293 Million Worth Of Shares From Vince McMahon

Vince McMahon continues to fill his pockets by selling his shares of TKO, except this time it’s TKO who is buying them.

According to a recent SEC Filing, TKO has agreed to buy 1,642,970 valued at $142.6 million from McMahon. On top of that, they’ve have also agreed to buy an additional 1,853,724 shares for $150 million, which brings the grand total to $293 million. Brandon Thurston from WrestleNomics reports that McMahon is down to 4.7% of TKO’s total shares.

The full SEC filing can be read below.

On April 4, 2024, WME IMG, LLC (“Endeavor”), an indirect subsidiary of Endeavor Group Holdings, Inc. (“EGH”), the parent company of TKO Group Holdings, Inc. (“TKO” or the “Company”), entered into a stock purchase agreement (the “Stock Purchase Agreement”) with Vincent K. McMahon (“Seller”), pursuant to which Endeavor agreed to purchase 1,642,970 shares of Class A common stock of TKO, par value $0.00001 per share (the “Common Stock”), held by Seller at a per share price of $89.01 for an aggregate amount of $146.2 million (the “Endeavor Share Purchase”). Endeavor expects the Endeavor Share Purchase to close on or about April 9, 2024, subject to the satisfaction of customary closing conditions.

On April 7, 2024, TKO entered into a stock purchase agreement (the “TKO Stock Purchase Agreement”) with the Seller, pursuant to which TKO agreed to purchase 1,853,724 shares of Common Stock of TKO held by Seller at a per share price of $89.01 for an aggregate amount of $165.0 million (the “TKO Share Purchase”). TKO expects the TKO Share Purchase to close on or about April 10, 2024, subject to the satisfaction of customary closing conditions. TKO intends to retire the shares of Common Stock purchased in the TKO Share Purchase following the closing of the TKO Share Purchase. TKO intends to fund the TKO Share Repurchase with approximately $150.0 million of borrowings under the revolving credit facility under the First Lien Credit Agreement dated as of August 18, 2016 by and among Zuffa Guarantor, LLC, UFC Holdings, LLC, the lenders party thereto from time to time and Goldman Sachs Bank USA, as Administrative Agent, and with cash on hand.