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Future Of Vince McMahon’s Massive Stock Position In TKO Group Unclear As He Fights Sexual Abuse Suit, President Mark Shapiro Says: “We’re Not Having Any Discussion With Him”
TKO exec Mark Shapiro said it's unclear if Vince McMahon will sell any more of his large stock holding to fund his fight against a sex abuse lawsuit.
Having built the WWE into a lucrative global business and cultural force over more than four decades, McMahon oversaw the merger of it with the UFC in a $21.4 billion combination that created TKO this year. Asked to clarify his forecast that the company intends to hold off on capital allocation until 2025, Schleimer said management expects to be in a “meaningful cash position” at the end of this year as it keeps its powder dry. MacMahon last month called the suit by Janel Grant “replete with lies, obscene made-up instances that never occurred, and is a vindictive distortion of the truth.” He said he plans to “vigorously defend myself against these baseless accusations.”
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