TKO Announces $1 Billion in Share Buybacks—Fueled by Confidence, Term Loan, and Big Plans

TKO Group Holdings is putting its money where its mouth is. The powerhouse behind WWE and UFC just announced a massive $1 billion repurchase of its Class A common stock, sending a strong message about its faith in the company’s future—and its value on Wall Street.

In a new press release, TKO revealed that it has entered into an accelerated share repurchase (ASR) agreement worth $800 million with Morgan Stanley. That move will be followed by a $174 million 10b5-1 trading plan and a previously completed $26 million repurchase via a private transaction. Altogether, this brings the total value of the plan to a clean $1 billion—sourced directly from a $1.0 billion term loan that closed on September 15. President and COO Mark Shapiro didn’t hold back in explaining the company’s rationale:

“This plan to repurchase $1 billion in shares reflects our conviction in the business and the intrinsic value of our stock,” he said. “The repurchases, together with the recent 100% increase to our quarterly cash dividend program, reflect our continued commitment to a robust and sustainable capital return program.”

Shapiro made it clear this wasn’t a one-off stunt, adding:

“We remain focused on executing our balanced capital deployment strategy to deliver long-term value for our shareholders.”

The ASR agreement will see TKO pay $800 million upfront on September 16, 2025, and receive an initial delivery of approximately 3.16 million shares. The final number of shares will depend on the volume-weighted average price of TKO’s stock through December, when the ASR deal is expected to wrap up.

Once the ASR program is completed, the $174 million 10b5-1 plan will kick in. All of these transactions are part of TKO’s previously announced $2 billion share repurchase authorization.

TKO’s aggressive move comes on the heels of major momentum in both its wrestling and combat sports divisions. WWE and UFC continue to dominate their respective lanes, while Zuffa Boxing—founded by Dana White in collaboration with Turki Al-Sheikh of Riyadh Season—recently promoted the blockbuster Terrence Crawford vs. Canelo Alvarez fight.

It’s not just TV ratings and premium live events that matter anymore. TKO is proving it knows how to play the long game financially—and is willing to invest big to back it up.