Former WWE chairman Vince McMahon has sold stocks worth about $250 million (about Rs 21,46,11,24,900) of TKO Group Holdings.

Thisfor a long time and is well known in the world of professional wrestling. According to the New York Post, the sale was done privately with Endeavor Group Holdings. This massive stock sale has taken place when McMahon is facing a sex trafficking lawsuit. Apart from this, he is preparing to start a new entertainment business.

How did Vince McMahon come under the shadow of controversies?

After several controversies surfaced in early 2024, his public and financial relationship with WWE and TKO has gradually weakened. According to official documents, the transaction was completed on Wednesday at a price of $158.32 per share.

In January, McMahon resigned from TKO's board of directors after a former WWE employee accused him of sexual harassment and sex trafficking. McMahon has flatly denied the allegations as "completely unfounded."

Former employee Janelle Grant claims her then-boss McMahon forced her into sexual relations at the company and that others were involved.

Last week, a man named John Laurinaitis reached a settlement with Grant.

It includes a condition that he will cooperate with Grant's lawyers and possibly testify against McMahon.

'No mistreatment'

McMahon's lawyer has said the settlement between Laurinaitis and Grant "does not change the facts of the case in any way" and that McMahon "never mistreated" Grant.

The stock sale further strengthens Endeavor Group's position in the TKO Group. It was formed by the merger of WWE and UFC in 2023. This transaction is a significant step for McMahon, as he is fighting a legal battle on one hand and planning to start a new entertainment venture on the other.