Vince McMahon sells $100 million of WWE stock to fund Alpha Entertainment

[cero2k]

Source: f4wonline.com

In a move that could indicate a further move toward getting more involved with professional football, WWE chairman Vince McMahon sold 3.34 million Class A common shares of company stock Thursday for what could be in the ballpark of $100+ million dollars.

As noted in the SEC filing, "Mr. 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. 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 Chief Executive Officer for the foreseeable future.

"The shares sold by Mr. McMahon represent approximately 4.3% of the Company’s total outstanding shares of Class A and Class B common stock. 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."

After hours trading saw the stock drop to $30.80/share.

Over the weekend, it broke that McMahon could be looking to bring back the XFL and make the announcement as early as January which led to a further reveal about the creation of Alpha Entertainment.

Earlier this month, Alpha Entertainment applied for five new XFL trademarks that cover the league restarting and merchandise. Additionally, they would like to trademark 'URFL'.

[Big Red Machine]

He's actually doing this, isn't he?

[cero2k]

Yeap. This could be the point Triple H takes over

[XIV]

XFL. It wasn't just a flop. It was a horrific flop. You will never compete with the NFL. It's become more worldwide these last few years, it certainly comes over here in the UK a few times a year (to which I have been as a Dolphins fan... do not judge me).

The XFL is never going to be anything, how has Vince not learned that it is a fruitless endeavour.

[Big Red Machine]

Yeap. This could be the point Triple H takes over

Lance Storm was saying that this could provide an interesting opportunity to see which aspects of the product (with the subtext being the ones that people find bothersome) that are just Vince things and which are things that don't solely come from Vince. I'd imagine that any moment at which Hunter is in charge rather than Vince also constitutes a major loss of power for Kevin Dunn, which can only be a good thing.

[KILLdozer]

He Hate Me is making a return.