Vince McMahon Sells $100 Million Worth Of WWE Shares To Help Fund New Sports Company
Dec 22, 2017, 12:00 AM | Updated: Jan 4, 2019, 11:22 am
(Photo by Ethan Miller/Getty Images)
(Photo by Ethan Miller/Getty Images)
(Photo by Ethan Miller/Getty Images)
Alpha Entertainment LLC, which was founded WWE chairman and CEO of World Wrestling Entertainment Vince McMahon back in September, just received more funding from its owner.
On Thursday, reports came out that McMahon filed details with the U.S. Securities and Exchange Commission for the sale of 3.34 million shares of WWE, equaling about $100 million.
McMahon did this to help support his newly established company, which is hoping to bring back the debunk XFL…or, at least, something similar to it.
According to ESPN, the filing noted that McMahon is selling his shares “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.”
Alpha filed for five trademarks related to the XFL on Dec. 16, according to records with the U.S. Trademark and Patent Office.
The filings seek to trademark the XFL as a professional football league and also cover merchandise related to the league. Previous XFL trademarks were abandoned over a period of time from 2002 to ’05.
During the XFL’s one season run, the NBC and WWE lost approximately $35 million each.
The company also sought to trademark “URFL.”
