WWE news: Vince McMahon sells £75million shares to fund XFL relaunch

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WWE don Vince McMahon has flogged £75million’s worth of stock in the wrestling company to help relaunch the XFL – a violent spin-off of American football – according to reports.

The CEO of World Wrestling Entertainment has flogged 3.34m shares of the wrestling brand just days after revealing he is making a move into professional football.

Vince McMahon founded the XFL in 2001
Getty Images – Getty

A statement from WWE on the growing speculation said: “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.”

And ESPN report Alpha filed for five trademarks related to the XFL on December 16, according to records with the U.S. Trademark and Patent Office.

The original XFL, a joint venture between WWE and UIS television company NBC, was launched in 2001 but lasted only one chaotic season.

WWE and NBC lost approximately 35 million dollars each and the venture goes down as one of McMahon’s few business blunders.

WWE boss Vince McMahon wants to resurrect the XFL
Getty Images – Getty
Vince McMahon has a trademark walk
Getty Images – Getty
Vince McMahon has confirmed that he has thought about reviving the XFL
Getty Images – Getty

Getty Images – Getty

The original XFL was a failed joint venture between WWE and US television company NBC[/caption]

AP2000

CEO of World Wrestling Entertainment Vince McMcMahon has flogged 3.34m shares[/caption]

The league featured eight teams that played 10 games each, and the Los Angeles Xtreme defeated the San Francisco Demons to win the first title.

McMahon was recently asked if he thought rebooting the hardcore sport and said: “Yes, I do.

“I don’t know what it would be. I don’t know if it’s going to be another XFL or what it may be or how different I would make it.

“It seems like in some way it would tie in either with the NFL itself or the owners.”


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(This story has not been edited by LIPFEED. It has been generated by a syndicated feed)


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This story has not been edited by LIPFEED. It has been generated by a syndicated feed

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