TKO Group Holdings announced a $1 billion share repurchase program on March 10 2026, comprising an $800 million accelerated repurchase and a $200 million 10b5‑1 trading plan. The program completes the company’s previously authorized $2 billion share buyback.
The buyback is financed in part by a new $900 million first‑lien term loan, increasing secured leverage but providing the liquidity needed for the repurchase while preserving capital for strategic initiatives.
Mark Shapiro, President and COO, said, "Our plan to repurchase $1 billion of additional shares reflects our continued confidence in TKO's business and long‑term prospects. This next phase of repurchases will all but satisfy our $2 billion share repurchase authorization and reinforce our commitment to a robust capital return program. We remain focused on disciplined capital deployment, high‑quality execution, and delivering meaningful value for our shareholders."
The program follows a history of capital returns, including a September 2025 accelerated repurchase of $800 million and a $174 million 10b5‑1 plan, and a 100 % dividend increase in recent months. The company also declared a $0.78 per share dividend in February 2026, up from $0.76 per share in September 2025.
TKO’s portfolio includes UFC, WWE, PBR, IMG, and On Location. While segment‑level revenue figures are not disclosed, the decision to fund the buyback with debt signals management’s belief that the company’s cash‑flow generation is robust enough to support both shareholder returns and future growth investments.
The program reduces the share count, which should lift earnings per share, but the added debt introduces interest‑rate risk. Analysts have expressed mixed views on valuation, with some downgrading the stock in February 2026 over concerns that the current price may be high relative to fundamentals.
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