McMahon sells $100 million worth of WWE stock
Vince McMahon sold $100 million worth of WWE stock today to fund Alpha Entertainment, which he created, in part, to fund a pro football venture.
Alpha Entertainment filed for 5 trademarks last week to the “XFL.”
The filings were originally made by the WWE months ago, as Rovell later clarified, but “the records say they did it” on Dec. 16 and the trademark requests have since been relinquished to McMahon and Alpha Entertainment, which WWE previously told Deadspin is an unrelated entity meant “to explore investment opportunities across the sports and entertainment landscapes, including professional football.”
A follow-up report by Rovell on ESPN.com said McMahon is also fresh off a sale of 3.34 million WWE shares (or about $100 million worth) to help fund his Alpha Entertainment company amid his pursuit of a new XFL.