Either the McMahon Family is about to have the most lucrative Christmas ever, or Vince McMahon is looking to buy a small Pacific island because he just added $100,000,000 to his bank account.
On Thursday, the WWE boss sold 3.34 millions shares of WWE stock, earning him a cool $105 million. The purpose of the cash out is said to help fund “Alpha Entertainment,” a company McMahon started independently of WWE. It’s believed that Alpha Entertainment’s next venture may be to reboot the XFL.
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Vince McMahon just sold 3.34m shares of $WWE to fund his “Alpha Entertainment LLC”. (That would be worth about $105m+ USD at current stock price.)https://t.co/zj12YzrI5W pic.twitter.com/kRVL2aUioN
— Chris Harrington (@mookieghana) December 21, 2017
Over the weekend news surfaced that Vince McMahon was planning to exhume the fallen football league – that’s how we learned about Alpha Entertainment in the first place. Even further, rumors also had McMahon targeting several XFL related trademarks. With him freeing up 3.34 million shares of WWE it looks like McMahon is stockpiling assets for a significant move.
While that sounds like a ton of money (and it is) Vince’s recent transaction only accounts for less than 5% of WWE’s shares. However, it may be the perfect kickstarter for the second chapter of the XFL.
The XFL has been effectively dead since 2001, the same year it was created. Outside of being on the butt end of some snarky jokes, the defunct football league has been off of the radar since it closed its doors. However, the tale of Vince McMahon’s failed football league got a jolt of life when ESPN released a highly acclaimed 30 for 30 documentary on the subject in early 2017.
With McMahon’s Alpha Entertainment being totally independent of WWE combined with its sole intentions being to “explore investment opportunities” it sounds like the XFL may get a second shot.
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