Vince McMahon sells roughly $100 million of WWE stock to fund Alpha Entertainment

WWE Chairman Vince McMahon sold 3.34 million of Class A stock on Thursday for roughly $100 million. It was noted in the SEC filing that Vince intends to use the money to fund the Alpha Entertainment group. McMahon’s Alpha Entertainment has applied for trademarks for the XFL and URFL. The filing also includes an assurance that McMahon will continue to serve as the company’s chairman: “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.”

Powell’s POV: I hope Vince and his wealthy cronies haven’t convinced themselves that now is the time to relaunch the league because the NFL took a PR hit in some circles over the controversy over players kneeling during the national anthem. Yes, that offended some fans, but it doesn’t mean those fans will support a league with second rate players just because the league requires those players to stand for the anthem. Granted, this is a big reach on my part. I honestly have no idea what is motivating him to relaunch what is arguably his greatest business failure unless, well, it’s because he’s obsessed with making his greatest failure succeed. Obviously, we’ll wait and see what he has in mind and whether his league will have any affiliation with the NFL before passing judgement. I can only say that as a big football fan, the idea of Vince McMahon getting back in the game does not excite me.

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