An SEC filing on Friday evening about Vince McMahon putting up all of his remaining TKO stock for sale was reported by some media outlets as new, breaking news.
However, it was merely the next step in a process that began two weeks ago.
TKO filed a prospectus "related to the resale of up to 8,258,887 shares of our Class A common stock" that included McMahon's remaining 8,021,405 shares in addition to 234,424 shares from WWE president Nick Khan and 3508 shares by TKO Board member Steven Koonin.
Friday's filing was merely a final version of the preliminary version that came out on April 12th that was reported by several outlets including ours.
By filing, it doesn't mean all the shares will be sold by the three men involved. Rather, the process is one that Wrestlenomics' Brandon Thurston had previously "allows the public to buy them and therefore might allow McMahon, Khan, and Koonin to get a better deal and to complete any transactions with less administrative friction."
The stock closed Friday at $96.76/share, down from the $98 the stock closed at on April 12th.
In today's Wrestling Observer Newsletter, our Dave Meltzer reported that sources told him that starting a new wrestling promotion is not of interest to McMahon but that he does want to look at other business opportunities in the future.
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