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Vince McMahon Sells His WWE Shares, May Start XFL-Type Football League: Report

The WWE chairman sold about $100 million worth of stock, and could be ready to take on the NFL again, according to an ESPN report.

Vince McMahon WWET
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Nearly two decades ago, Vince McMahon and the WWE created the XFL as an alternative for football fans during the NFL off-season. While the league lasted only one season, and McMahon ultimately called it a "colossal failure," it appears that the wrestling entertainment mogul is ready to try it again.

McMahon recently sold 3.34 million shares of his WWE stock, collectively valued at about $100 million, to help fund a new sports venture that could include professional football, according to Darren Rovell at ESPN.

In the filing, McMahon noted that it was "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".

Rumors have been flying in recent weeks that McMahon may be trying to restart the XFL, but it’s possible that any football league created under the Alpha Entertainment venture could be named something else. ESPN also reported that the company is looking to tradeMark The term "URFL".

The WWE released a press statement after rumors and reports that McMahon could be bringing back the XFL, or another football-related venture.

"Vince McMahon has established and is personally funding a separate entity from WWE, Alpha Entertainment, to explore investment opportunities across the sports and entertainment landscapes, including professional football," the release stated. "Mr. McMahon has nothing further to announce at this time."

McMahon has yet to release any information on his new venture, but an announcement could be coming. Freelance wrestling journalist Brad Shepard reported on Twitter that McMahon may make an announcement about a new football league on Jan. 25, 2018.

Could "He Hate Me" have a second life after the XFL? Only time will tell.

 

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