Vince McMahon sold $100 million worth of World Wrestling Entertainment (WWE) shares to fund a sports and entertainment venture which could include a professional football league. The CEO filed details with the U.S. Securities and Exchange Commission (SEC) on Thursday to fund Alpha Entertainment LLC. The filing noted the entity was “established to explore investment opportunities across the sports and entertainment landscapes, including professional football.” XFL
A WWE statement said: “Mr Vince McMahon executed the sale 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.
Vince Mcmahon XFL
“Mr McMahon has informed the Company that he has no current plan to sell additional shares of the Company’s stock. And that he intends to continue in his capacity as the Company’s Chairman and CEO for the foreseeable future.”
WWE didn’t indicate in the filing what price McMahon sold his share at. But based on Thursday’s closing price of $31.87, a sale would have raised nearly $106.5 million.
So will Vince McMahon look to recreate the XFL, a league that lasted all of one year in 2001? A spokesman for WWE had no comment beyond what was in the SEC filing. Read: Top Indian tennis players from 2017.
But it would be very interesting to see if McMahon thinks he can make another go at it with a football league. The XFL was a joint venture between the WWE and NBC.
Last week, Alpha filed trademarks for URFL and UrFL, while VKM Ventures, another company led by McMahon. Filed for UFL, United Football League, and “For The Love of Football.”
Alpha also filed five trademarks for the XFL, a defunct football league which lasted one season and was headed by McMahon.
It appears Vince McMahon is trying to re-enter the world of professional football. His first entry failed nearly two decades ago.