Vince McMahon Sells $100 Million WWE Stock To Fund Alpha Entertainment
The XFL revival draws closer...
Vince McMahon has officially sold 3.34 million shares of WWE company stock, fuelling speculation that the Chairman is moving closer to an XFL revival.
The stock sold roughly equates to $100 million. As per the company's SEC filing report, it was done to directly fund Alpha Entertainment LLC, which was recently set up for investment opportunities in professional football, with trademarks like "UFL" and "United Football League" already filed.
It's thought that McMahon will use Alpha to bring back an XFL equivalent though a January announcement, though this is all speculation at the moment. Regardless, this stock movement suggests there's something to the rumours that Vince is looking to re-enter the professional football business, despite past failings.
The original XFL remains one of the biggest money pits in WWE history. A complete business failure, it saw McMahon lose $35 million on his original investment, and is generally regarded as one of his biggest professional embarrassments. His motivations for reviving it remain unclear, but it's certainly a bold move.
January feels a little ambitious for something as vast as a brand new professional sports league, but if anything, this move shows that Vince isn't willing to waste any time.