By Jason Powell, ProWrestling.net Editor (@prowrestlingnet)
WWE owned 23.5 percent of Class B stock in the XFL, but the company didn’t actually pay for it. Mike Florio of ProFootballTalk.com reports that WWE received equity in the XFL at no payment or financial obligation, and that it was apparently done in exchange for granting Vince McMahon the authority to launch the XFL through Alpha Entertainment.
Powell’s POV: So Vince rewarded one company he owns with stock from another company that he owns. Got it. There is also talk that WWE received the stock in exchange for Alpha Entertainment using the XFL name. For those who missed it, the XFL filed bankruptcy on Monday.