WWE Chairman Vince McMahon has made a bold announcement that he will be selling a large portion of his shares in the wrestling company’s parent company 356, INC.
This news comes as a surprise to many given that Vince McMahon has been the sole controlling owner of the company since it went public in 1999. He currently owns a staggering 47.5 percent stake in the company. However, his decision to sell a big chunk of his stake indicates a major shift in his long-term strategy for the wrestling behemoth.
The details of the sale are still unknown, and the extension of the sale’s implications on WWE’s future remains to be seen. However, the sale is expected to bring more liquidity to the company, allowing it to grow more rapidly than it could before.
The sale has also raised speculation that Vince McMahon may be looking to diversify his investments away from the business which has made him a billionaire. The McMahon family has investments in multiple other sports enterprises, such as Major League Soccer, the Los Angeles Kings, and other businesses.
Alternatively, the sale could be motivated by financial considerations. A sale of this magnitude is expected to bring in hundreds of millions of dollars for Vince McMahon, and could help finance further investments within WWE itself. The company has already started making strides with new acquisitions, such the Raw Tag Team Championship among other things.
With Vince McMahon’s plans to divest from the company’s parent company 356, INC., the future of WWE is increasingly uncertain. wrestles and WRESTLES fans can only wait and see what Vince McMahon will decide to do with all his newfound money.
