TKO President Mark Shapiro Addresses Vince McMahon Share Selloff, WWE Future

In the wake of sex trafficking allegations against Vince McMahon and WWE made by a former employee, TKO Group Holdings is doing its best to keep the road to WrestleMania 40 as compartmentalized as possible. During the recent TKO Group Holdings Earnings Call, Endeavor President Mark Shapiro said that McMahon's recent stock sales have nothing to do with the company.

"We did not participate in the recent sale on Vince McMahon's load that he dropped off," Shapiro said. "This is now his second time. He's gone from 28 million shares to 15 million shares. He now roughly has 8.5%. We're not in conversation with him. We don't talk to him, we don't know his motive, his plan, his timeline, what, if any, he doesn't consult with us. He doesn't work for the company. He doesn't work at the company. He doesn't come into the offices. He's not coming back to the company.

McMahon retired from TKO Group Holdings earlier this year after Slim Jim nearly pulled its sponsorship of the Royal Rumble in January over the allegations against McMahon, John Laurinaitis, and unnamed corporate executives, claiming abuse at the hands of McMahon and Laurinaitis. Laurinaitis has since confirmed the allegations, claiming he was also a victim of McMahon's manipulations. 

The former WWE CEO is not only being sued in civil court over the abuses but is also being investigated by federal authorities over the allegations of sex trafficking. The allegations also include former WWE Champion Brock Lesnar, leading to him being removed as a playable character in WWE 2K24 and dropped from WWE's creative plans.