In a move done to fund his “Alpha Entertainment” venture, Vince McMahon has sold approximately 3.34 million shares of WWE. The total value of the shares is listed at $100 million.
Details of the sale were released to the U.S. Securities and Exchange Commission. The filing noted the reason for the sale as “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 Entertainment and Football
News of the sale has fuelled further speculation that Vince could be re-starting the XFL.
Alpha Entertainment filed for 5 trademarks on December 16th related to a potential professional football league, most utilizing the name “XFL”. There was a trademark filed for “URFL”, however, so the name XFL is not a given just yet.