WWE boss Vince McMahon sells £75million shares to fund XFL relaunch

WWE boss Vince McMahon sells £75million shares to fund XFL relaunch

Last week, a rumor had started making the rounds that WWE Chairman Vince McMahon was aiming to revive the XFL, the rebel football league he started with NBC that only lasted for one whole season back in 2001.

Last week, reports emerged stating that Vince McMahon was thinking about setting up a separate company away from the WWE called Alpha Entertainment, in which he is planning to bring back his former football league with, the XFL.

As we've noted, it seems that Vince McMahon is once again interested in attempting to launch his own football league.

The after-hours stock price dropped to $30.80 following a report by ESPN's Darren Rovell which said McMahon had sold WWE stock to finance Alpha Entertainment. Most of that smoke was about McMahon securing trademarks related to the XFL, trademarks that he previously abandoned because he thought he was out of the pro football business.

"On December 21, 2017, Vincent K. McMahon ("Mr. McMahon"), Chairman and Chief Executive Officer of World Wrestling Entertainment, Inc".

Vince Mc Mahon speaks to the media to announce the creation of the XFL in 2000

Written in the filing for the selling of his shares, it notes that McMahon is selling "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".

The murmurs about an XFL return started to surface previous year, when the WWE attempted to trademark "He Hate Me", the infamous nickname held by Rod Smart.

On Thursday, McMahon sold 3.34 million shares of WWE, which is worth $100 million.

The report also said that McMahon only sold 4.3 percent of the company's total outstanding shares and showed that McMahon now holds 82.8 percent of the company's voting power after the sale.

Panthers' Luke Kuechly Selected To 2018 Pro Bowl
Due to a season ending injury, Wentz will not play im the Pro Bowl this year. "We've got bigger things at stake". PANTHERS: The NFL reduced linebacker Thomas Davis' suspension from two games to one following his appeal.

Related Articles

  • Apple admits to slowing down older iPhones

    The company included code in iOS 10.2.1 earlier this year that was a fix for iPhone 6 users experiencing sudden shutdowns . So, rather than planned obsolescence as many had assumed, it turns out there's a good reason for throttling performance.
    MLS to make major announcement in Nashville Wednesday

    MLS to make major announcement in Nashville Wednesday

    And those for the MLS didn't do a good enough job at convincing city voters WHY this was actually good for them. A second team in Southern California, Los Angeles FC, will begin play in 2018 at a new stadium next to the L.A.
    Jayda Fransen: Twitter suspends Britain First leader retweeted by Donald Trump

    Jayda Fransen: Twitter suspends Britain First leader retweeted by Donald Trump

    The new rules were a response to years of outrage over Twitter allowing hate to flourish on its site. The suspensions are part of Twitter attempt to better combat hate-speech and abuse on its platform.
  • Klopp explains Salah's, Chamberlain's start with Liverpool

    Klopp explains Salah's, Chamberlain's start with Liverpool

    He said: "Against us most of the time Giroud played from the beginning so that shows the style Arsenal choose against us". He said: "It's all so different, he has become more and more a Liverpool player".
    Cavs working to get Isaiah Thomas run at G League practices

    Cavs working to get Isaiah Thomas run at G League practices

    Thomas aggravated an existing hip injury in last season's playoffs and has been recovering throughout the offseason. A Cavs source described the Napa excursion as a "nice way to break up a long trip".
    Democrat wins recount in Virginia House race

    Democrat wins recount in Virginia House race

    But on Wednesday morning Yancey's campaign asked the court to accept a ballot that had been tossed aside as an overvote. In the initial count, Simonds had been behind by 10 votes, and the recount found her ahead instead by one vote.
  • Here We Go Again: The Mamma Mia 2 Trailer Is Here

    Here We Go Again: The Mamma Mia 2 Trailer Is Here

    We also catch a glimpse of a radiant-looking Cher , who plays Sophie's grandmother in her first big screen appearance since 2010 . Sophie has her answer, everyone's happy, they go off singing, and the story is finished.
    Apple Just Confirmed Your Worst Suspicions About Your Slow iPhone

    Apple Just Confirmed Your Worst Suspicions About Your Slow iPhone

    According to the tech company, iPhones are slowed down to protect the lithium-ion battery from becoming faulty. It had always been rumored that Apple purposefully caused its phones to slow down over time .
    Senators Call on Al Franken Not to Resign Amid Sexual Abuse Charges

    Senators Call on Al Franken Not to Resign Amid Sexual Abuse Charges

    A special election will be held in Minnesota to permanently fill the seat timed to next year's midterm elections in November. He'd hoped to make his case to the Senate Ethics Committee that his behavior shouldn't require him to give up the seat.
  • Top EU Court Rules Uber Is A Taxi Service

    Top EU Court Rules Uber Is A Taxi Service

    The EU court's senior adviser had said in a legal opinion in May that Uber was indeed a transport company. The company has rejected that argument, saying it will harm innovation.
    Not aware of free trade deal with access for financial services - Barnier

    Not aware of free trade deal with access for financial services - Barnier

    Britain will need a transition after Brexit that will avoid businesses having to adjust to new rules and regulations twice. More than 100 banks operating in London are branches of lenders headquartered elsewhere in the EU.
    Census: Wyoming lost more residents than any other state

    Census: Wyoming lost more residents than any other state

    And once again, Texas' population grew by the largest number of any state in the country, as it has for every year this decade. Census Bureau on Wednesday announced that Idaho's population from July 2016 to July 2017 increased 2.2 percent to 1.7 million.