WWE chairman sells shares to fund his football league dream

Vince McMahon - WWE Chairman & CEO- InsideSport
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WWE Chairman, Vince McMahon’s is once again ready to live his dream of owning a successful professional football league.

McMahon has sold 3.34 million WWE shares, worth around $100 million, to fund his dream project. The SEC filing noted that McMahon “executed the sale primarily to fund a separate entity from the Company, Alpha Entertainment LLC, which McMahon established to explore investment opportunities across the sports and entertainment landscapes, including professional football.”

WWE stock dropped by over 3% in after hours trading to $30.80 per share after the sell out by McMahon who is holding position of chairman and CEO of World Wrestling Entertainment

McMohan did so, the filing noted, “primarily to fund a separate entity from the Company, Alpha Entertainment LLC, which McMahon established to explore

investment opportunities across the sports and entertainment landscapes, including professional football.”

The filing comes after WWE confirmed earlier in the week that Alpha Entertainment, which was founded in September, was, in fact, an entity of McMahon’s.

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

The original XFL, a joint venture between WWE and NBC, debuted in 2001 and lasted only one season. WWE and NBC lost approximately $35 million each, after taxes, on the league.


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