Vince McMahon sells WWE stock to finance new company, XFL trademarks filed

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A WWE spokesman confirmed last week to Deadspin that McMahon has created a separate entity called Alpha Entertainment and it will look at new investment opportunities including football. The company's Securities and Exchange Commission (SEC) official filing states that it's being used "to explore investment opportunities across the sports and entertainment landscapes, including professional football", according to The Wrap.

It is unclear what this means for WWE, though, given McMahon already spends nearly all of his time on running the company.

On Tuesday of this week, the WWE stock was trading at $33.28, however, it closed at $31.87 today. 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.

Sports Business Reporter Darren Rovell, also reported that Alpha Entertainment filed for five trademarks to "XFL" on December 16, with it showing up in the trademark office filing this week.

Allsport
Allsport

Anyone who grew up with the WWE (or WWF back in the day) will remember the company's eccentric owner Vince McMahon. "Previous XFL trademarks were abandoned over a period of time from 2002 to '05".

McMahon's sale represents ~4.3% of the company's total outstanding Class A and Class B common stock.

It promised to be a more entertaining, and aggressive form of the National Football League, but it only lasted one season and lost McMahon's WWE and co-sponsors NBC $35 million each. The XFL only had one season, but season two may be on its way.

The XFL, which was a joint venture between WWE and NBC, was supposed to be a direct competitor to the NFL.

More news: Google to activate Chrome's native ad blocker on February 15

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