Reason Why Nick Khan Sold WWE Stock Revealed
Nick Khan had a good reason to sell WWE stock.
As the President of WWE, Nick Khan is one of the most powerful people involved in the company. Khan has played a major role in significant WWE deals over the past couple of years including the sale of the company to Endeavor, moving Raw to Neltfix (that includes WWE coverage for international fans), and choosing cities to host major events like WrestleMania, among other things.
Due to his status in the company, Nick Khan’s name appears in the news sometimes regarding the sale of stock. That’s something that has to be made public because WWE’s TKO Group is a publicly traded company.
According to Dave Meltzer of the Wrestling Observer Newsletter, part of Nick Khan’s recent stock sale was done partially to pay taxes.
Nick Khan sold 22,693 shares of TKO stock for $2,394,846.54 on 7/22 and another 23,509 shares for $2,492,659.27 so it was a total of $4,887,505.81 in stock sales over the two days. He still has 198,509 shares which this week were worth $21.25 million.
The stock sale was partially to pay for Khan’s taxes. Khan did the same thing last year when he sold 25,231 shares at the same time of the year.
Nick Khan And Paul Levesque Meet London Mayor About Hosting WrestleMania
It was reported on Thursday that WWE’s Nick Khan and Chief Content Officer Paul “Triple H” Levesque met with London, England mayor Sadiq Khan about Wembley Stadium possibly hosting WrestleMania in the future. Nick Khan spoke about how they needed to talk more about it.
“Sadiq Khan and his team are working hard on positioning London as a sport and entertainment capital of Europe and it has been great to hear more on his vision for how WWE can support them on that journey.”
“WrestleMania has delivered more than $1.25 billion in economic impact for its host cities, with this year’s event in Philadelphia attracting over 145,000 fans from 64 countries. There is a lot that needs to be discussed further but we share the ambition of Mayor Khan in trying to bring a stand-out WWE Premium Live event to London.”
The meeting took place because John Cena has spoken about London hosting WrestleMania and the Mayor of London Sadiq Khan went public with his desire to bring WrestleMania to the city back in April as well.