Vince McMahon labeled as risk factor in latest TKO filing with SEC
The latest TKO Group Holdings Form 10-Q filing with the United States Securities and Exchange Commission has an interesting paragraph labeling Vince McMahon as one of the risk factors of the company.
Filed under the Legal Proceedings and Risk Factors section, the filing states, “Mr. McMahon’s membership on our Board could have adverse financial and operational impacts on our business.”
It adds that his title as Chairman of the Board could expose TKO to negative publicity and/or have other adverse financial and operational impacts on the business and may also result in additional scrutiny or otherwise exacerbate the other risks described.
McMahon has an iron-clad contract that prevents him from being dethroned for at least two years without TKO paying millions of dollars in return. McMahon could be voted out of his role if necessary after that as Endeavor controls the Board with six members versus five from WWE.