Kemo
11-08-2023, 06:58 PM
TKO Group Holdings could go on to create great things in the years to come if Vince McMahon can control himself.
The official launch of TKO Group Holdings took place in September, with a ceremony at the New York Stock Exchange featuring names from WWE, Endeavor, and UFC. TKO's launch comes six months after it was announced that Endeavor would be acquiring WWE for the sum of $9.3 billion.
This week, TKO gave its 2023 third-quarter financial results. In an SEC filing, McMahon, who serves as TKO's Executive Chairman, was listed under the 'Risk Factor' section. The description underneath McMahon's name said that the hush-money scandal of 2022 could prove detrimental to the company.
"The special committee of independent members of WWE’s Board of Directors’ investigation into allegations of misconduct by Mr. McMahon, and any further allegations and investigations may have an adverse financial and operational impact on our business performance."
The 2022 scandal saw McMahon face accusations from multiple former employees who alleged that they were paid to keep quiet about unwarranted advances by the Chairman. After stepping away from the promotion due to the investigation, McMahon retired in July but strong-armed his way back into the promotion in January of this year. While McMahon was willing to retire again for WWE to find a buyer (or so he claimed) Ari Emanuel insisted on keeping McMahon with TKO.
The filing added that McMahon is expected to reimburse TKO for reasonable expenses related to the investigations into his alleged actions. It also notes that McMahon "has made or will make all related payments personally."
The official launch of TKO Group Holdings took place in September, with a ceremony at the New York Stock Exchange featuring names from WWE, Endeavor, and UFC. TKO's launch comes six months after it was announced that Endeavor would be acquiring WWE for the sum of $9.3 billion.
This week, TKO gave its 2023 third-quarter financial results. In an SEC filing, McMahon, who serves as TKO's Executive Chairman, was listed under the 'Risk Factor' section. The description underneath McMahon's name said that the hush-money scandal of 2022 could prove detrimental to the company.
"The special committee of independent members of WWE’s Board of Directors’ investigation into allegations of misconduct by Mr. McMahon, and any further allegations and investigations may have an adverse financial and operational impact on our business performance."
The 2022 scandal saw McMahon face accusations from multiple former employees who alleged that they were paid to keep quiet about unwarranted advances by the Chairman. After stepping away from the promotion due to the investigation, McMahon retired in July but strong-armed his way back into the promotion in January of this year. While McMahon was willing to retire again for WWE to find a buyer (or so he claimed) Ari Emanuel insisted on keeping McMahon with TKO.
The filing added that McMahon is expected to reimburse TKO for reasonable expenses related to the investigations into his alleged actions. It also notes that McMahon "has made or will make all related payments personally."