Vince McMahon sells $100M of WWE shares, potentially to restart XFL

23 December, 2017, 01:54 | Author: Raquel Nash
  • Vince McMahon

WWE don Vince McMahon has flogged £75million's worth of stock in the wrestling company to help relaunch the XFL - a violent spin-off of American football - according to reports.

A statement from WWE on the growing speculation said: "Vince McMahon has established and is personally funding a separate entity from WWE, Alpha Entertainment, to explore investment opportunities across the sports and entertainment landscapes, including professional football".

It promised to be a more entertaining, and aggressive form of the National Football League, but it only lasted one season and lost McMahon's WWE and co-sponsors NBC $35 million each.

What does this mean for the WWE? News of both broke today.

Alpha filed for five trademarks to the XFL on December 16, according to records with the U.S. Trademark and Patent Office.

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The report also revealed that five trademarks were filed to "XFL" regarding the rights for distribution of professional football content, downloadable software, toys and sporting goods, apparel, and hundreds of other details.

Now, years removed the league sinking, it looks like McMahon and Co. are looking to get back in the football business.

At the time, McMahon claimed it would be the "xtra fun league" to the NFL's "no fun league", using wrestling commentators such as Jim Ross and Jerry "The King" Lawler as the lead voices of the XFL.

"After the sale, Mr. McMahon beneficially owns 32,193,375 shares of the Company's Class B common stock, which represents approximately 82.8% of the Company's total voting power and approximately 41.8% of the Company's total outstanding shares of common stock", the official legalese from SEC reads. The XFL only had one season, but season two may be on its way.



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