Vince McMahon Sells $100M Worth Of WWE Shares, Eyeing Return To Professional Football
WWE Chairman & CEO Vince McMahon has been the subject of rumors that indicate that the sports entertainment pioneer is going to try his hand at professional football again.
McMahon recently sold 3.34 million shares of World Wrestling Entertainment (WWE), equaling about $100 million, filed with the U.S. Securities and Exchange Commission (h/t ESPN).
The filing notes that, “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.”
Additionally, Alpha Entertainment, which was founded by McMahon back in September of this year, filed for five trademarks to the XFL back on December 16th and also sought to trademark “URFL.”
The filings seek to trademark the XFL as a professional football league and also cover XFL related merchandise.
The XFL, which was a collaboration between WWE and NBC, debuted in 2001 and only lasted one season but is still discussed today due to it’s unique nuances and deviation from traditional NFL football.
All signs point to McMahon giving the XFL another run, or establishing a new league. Regardless, McMahon is eyeing a return to the professional football landscape.
Rumors have circulated that a formal announcement related to the XFL and/or McMahon’s professional football plans may take place January 25th, 2018.
With player protests and a watered down NFL product, an XFL revival may be what football fans need and what the NFL needs to improve the sport as a whole.
Additionally, McMahon may be on to another revolutionary step as his ‘WWE Network’ has proven that he can find success in a subscription-based video streaming service market.
Doing something similar to ‘WWE Network”, but solely dedicated to McMahon’s professional football venture(s) could be both revolutionary and massively successful.
Even the thought of airing games on ‘WWE Network’ could be a stroke of genius for both the network and the potential new league.