HomeFree ArticleLatest NewsVince McMahon set to sell major stake in TKO Group Holdings

Vince McMahon set to sell major stake in TKO Group Holdings

Vince McMahon set to sell major stake in TKO Group Holdings

Vince McMahon, the former controlling shareholder of WWE and current executive chairman of TKO Group Holdings, has revealed plans to sell 8.4 million of his shares in the new parent company overseeing both the Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE).

The shares, estimated at approximately $700 million, represent a significant portion of McMahon’s holdings, which totalled over 28 million shares as of August, according to regulatory filings.

TKO Group Holdings announced McMahon’s intention to divest, with the company’s CEO, Ari Emanuel, and other top executives, including President and COO Mark Shapiro, expressing interest in acquiring shares from McMahon. TKO itself is not selling any shares in this transaction.

In other developments, the UFC has secured new long-term broadcast agreements for Canadian rights with Sportsnet and TVA Sports, effective from 2024. Sportsnet will be the exclusive English-language broadcaster for UFC Fight Night cards and pay-per-view prelims, available on its channels and live streaming on Sportsnet+. Simultaneously, TVA Sports will cater to French-speaking Canadians nationwide, extending the UFC’s reach across the country.

Sportsnet and TVA Sports, former broadcast partners of the UFC from 2011 to 2014, will also feature additional premium UFC live programming on multiple platforms, including Dana White’s Contender Series.

Adding to its multimedia endeavours, the UFC has collaborated with Roku to present a three-part original documentary titled ‘Fight Inc: Inside the UFC. This exclusive content, celebrating three decades of the UFC, will be available on The Roku Channel, providing viewers with behind-the-scenes insights into pivotal moments during the organisation’s 30th-anniversary year.

On the sponsorship front, the UFC is expanding its partnership with Atomic Brands. Monaco Cocktails, along with other Atomic products, will now be featured in every UFC event, including both pay-per-view (PPV) events and Fight Nights.

Monaco, designated as the promotion’s official hard lemonade and canned vodka cocktail earlier this year, will additionally serve as the UFC’s official canned cocktail under this multi-year agreement.

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