Vince McMahon Sells $100M USD of WWE Shares to Fund Sports-Based Entity
Could we see the XFL return?
It looks like Vince McMahon’s football dreams may be resurfacing. Recently the CEO of World Wrestling Entertainment sold 3.34 million shares of WWE, equivalent to an estimate of $100 million USD. The transaction was filed with the U.S. Securities and Exchange Commission which was noted: “primarily to fund a separate entity from the Company, Alpha Entertainment LLC, which Mr. McMahon established to explore investment opportunities across the sports and entertainment landscapes, including professional football.”
Alpha Entertainment, another entity of McMahon’s, filed for five trademarks in relation to the XFL with some including the intention to trademark the XFL as a professional football league plus merchandise. Last week, WWE filed to trademark the popular “He Hate Me” nickname worn by former XFL player Rod Smart.
The XFL made its debut in 2001 and only lasted one season with WWE and NBC losing an estimate of $35 million USD each, after taxes. Do you think Vince McMahon has a new and improved formula to help usher in the return of the XFL?
Let us know what you think in the comments section below.
You can also take a look at the trailer for ESPN’s 30 for 30: This Was the XFL.
