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WWE Rumors: Vince McMahon Sells 2M Shares, Company in Trouble?

World Wrestling Entertainment CEO Vince McMahon is selling over two million of his shares of he company.

According to the document obtained from the Securities and Exchange Commission (SEC), the elder McMahon has sold 2,191,894 of his WWE stock on Monday for an estimated amount of $30 million. Given the sale, McMahon's ownership has been decreased to 48.8 percent.

In another report by Wrestling News, McMahon still owns 37,080,747 shares of the company's Class B stock, which represents around 86 percent of the WWE's total voting power, and 48.8 percent of the company's total outstanding shares of common stock.

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Speculations have begun to arise about McMahon's intent to sell the company and possible financial troubles. However, McMahon himself shut down any ideas of sale, noting that it was merely decided upon "for liquidity and asset diversification purposes."

"Mr. McMahon informed the Company that he has no current plans to sell any shares of the Company's stock and that he intends to continue in his capacity as the Company's Chairman and Chief Executive Officer for the foreseeable future," an excerpt of the SEC document reads.

According to another report by WrestleView, McMahon owned approximately 63 percent of the company stock over the last few years, prior to to the most recent sale.

As far back as 2014, McMahon net worth has been on a decline. In a May 2014 report by Forbes.com, the WWE Chief Executive Officer lost $350 million, dropping 40 percent since the market open of the said period.

The reason for the said drop in stock value was the WWE's signing of a new television deal at the time with NBC Universal, for supposedly "less than some investors had hoped."

The report adds that while the same TV deal did help McMahon in the WWE when shares skyrocketed to 89 percent in the first three months of 2014, the dramatic drop happened months later, when the company announced its new online streaming service, which took out $235 million from McMahon's net worth.

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