Vince McMahon Sells Massive Amount Of WWE Stock, Update On XFL Trademarks

23 December, 2017, 01:56 | Author: Angelina Schmidt
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Vince McMahon recently launched Alpha Entertainment which is a company that will presumably be the parent company behind Vince's new football league, and ESPN also reports that McMahon sold 3.34 million of his WWE shares for about $100 million.

While it certainly looks like the XFL will be getting a second shot, Vince could be doing this exclusively for merchandise rights.

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A report Friday night on Twitter said an announcement about bringing back the XFL may come next month.

Vince McMahon has not yet offered a statement about anything XFL related, but rumors from CBS Sports say that he might be making an announcement on the project as soon as January 25, 2018.

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Chairman and Chief Executive Officer of World Wrestling Entertainment, Inc.

As noted, Vince McMahon sold 3.34 million shares of WWE stock today, valued at over $105 million, in order to fund his new "Alpha Entertainment, LLC".

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McMahon says he has no current plan to sell additional shares and that he will remain as WWE's Chairman and CEO "for the foreseeable future". "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 XFL also tried to combine the WWE and National Football League, with mixed results.

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The XFL, a joint venture between WWE and NBC, originally debuted in 2001 but only last one season, as WWE and NBC lost approximately $35 million each, after taxes, on the league, according to Darren Rovell. And they aren't the only ones being used to try to identify a professional football league under Alpha, as McMahon and Co. are also seeking the rights to "URFL", per Rovell.

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