WWE chairman Vince McMahon sold 3.34 million shares of company stock on Thursday in an apparent fundraising effort to revive the XFL. Or as the publicly traded company’s Securities and Exchange Commission (SEC) filing states, “to explore investment opportunities across the sports and entertainment landscapes, including professional football.”
As a result of the sell-off, Alpha Entertainment LLC suddenly finds itself flush with cash. And that company has been busy filing XFL patents this month — attorneys there even did some back in 2016.
Remember the XFL? That was the WWE-fied NFL alternative that folded after just one season and lost tons of money for both Vince’s WWE and partner NBC. So… let’s do that again?
McMahon’s 3+ million sold shares represent about 4.3 percent of WWE’s outstanding Class A and Class B shares. Considering WWE shares closed around $32 apiece on Thursday, that means McMahon unloaded more than $100 million in stock.
The father of Shane McMahon and Stephanie McMahon (and father-in-law to wrestler Triple H) still owns 32,193,375 shares of WWE Class B common stock. That’s about 82.8 percent of the pro-wrestling promotion corporation’s voting power and roughly 41.8 percent of the company’s outstanding shares of common stock.
After news of McMahon’s sale reached Wall Street, others began unloading, too. WWE shares were actually trading down more than 9 percent at one point this morning.
And here is the full legalese from Thursday’s SEC filing:
On December 21, 2017, Vincent K. McMahon (“Mr. McMahon”), Chairman and Chief Executive Officer of World Wrestling Entertainment, Inc. (the “Company”), sold 3,340,000 shares of the Company’s Class A common stock in a block trade made in accordance with the provisions of Rule 144 of the Securities Act of 1933, as amended. Mr. McMahon executed the sale 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. 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.
The shares sold by Mr. McMahon represent approximately 4.3% of the Company’s total outstanding shares of Class A and Class B common stock. After the sale, Mr. McMahon beneficially owns 32,193,375 shares of the Company’s Class B common stock, which represents approximately 82.8% of the Company’s total voting power and approximately 41.8% of the Company’s total outstanding shares of common stock.
Every WWE Champion Ever, Ranked by Number of Reigns (Photos)
Pro-wrestling championship belts change hands (or waists) like grapplers change ring gear these days, though it wasn't always that way. Bobby Lashley is the current WWE Championship after an incredibly short-lived reign by The Miz (and after one violent Hurt Lock in the main event of March 1, 2021's "Monday Night Raw" episode).
The Miz (yes, Mike from "The Real World") only had the belt for eight days. Really though, Lashley's violent "Elimination Chamber" attack on then-champ Drew McIntyre is what set Miz up for his second WWE Championship. In other words, the belt found the correct waist in the end.
This is Lashley's first-ever stint as WWE Champion, and it's spanned several pay-per-views. Up next is Sunday's "Hell in a Cell," which fans can watch on Peacock.
Scroll through our gallery to see every WWE Champion ever, ranked by their number(s) of title wins. Remember: this is a list of those who won the WWWF Championship, the WWF Championship or the WWE Championship. So don't come after us, Universal Champions, et al.
Rank: 31 (tie) Wrestler: Jinder Mahal # of Reigns: 1
Shortly before this publishing, the "Modern-Day Maharaja" dropped the title to A.J. Styles, ending a somewhat confusing run right before the WWE went to India.
Rank: 31 (tie) Wrestler: John "Bradshaw" Layfield # of Reigns: 1
JBL has taken his heel persona from the ring to the announce table. Never without a cowboy hat, Layfield thankfully leaves his lariat clothesline at home.
Rank: 31 (tie) Wrestler: The Ultimate Warrior # of Reigns: 1
The muscle-bound maniac who handed Hulk Hogan his first-ever "WrestleMania" loss died after suffering a heart attack three days after being inducted into the WWE Hall of Fame.
Rank: 31 (tie) Wrestler: Pedro Morales # of Reigns: 1
History lesson: Back in the WWWF days, Morales became the first guy in wrestling history to win all three of the major men's titles -- the WWF Championship, the Intercontinental Championship and the WWF Tag Team Championship -- in the company.
Rank: 31 (tie) Wrestler: Bobby Lashley # of Reigns: 1
Rank: 16 (tie) Wrestler: The Miz # of Reigns: 2
The kid from "The Real World" made good on his over-the-top MTV promos. One of the best on the mic, Miz has been holding down the Intercontinental Championship more than any other Superstar of the past few years.
Rank: 16 (tie) Wrestler: Bob Backlund # of Reigns: 2
Backlund couldn't "Make Darren Young Great Again" -- or even keep the guy employed -- but the master of the cross-face chicken wing had a pretty incredible career of his own.
From Buddy Rogers to Bobby Lashley, here are all the guys from the old WWWF and WWF days — and beyond
Pro-wrestling championship belts change hands (or waists) like grapplers change ring gear these days, though it wasn't always that way. Bobby Lashley is the current WWE Championship after an incredibly short-lived reign by The Miz (and after one violent Hurt Lock in the main event of March 1, 2021's "Monday Night Raw" episode).
The Miz (yes, Mike from "The Real World") only had the belt for eight days. Really though, Lashley's violent "Elimination Chamber" attack on then-champ Drew McIntyre is what set Miz up for his second WWE Championship. In other words, the belt found the correct waist in the end.
This is Lashley's first-ever stint as WWE Champion, and it's spanned several pay-per-views. Up next is Sunday's "Hell in a Cell," which fans can watch on Peacock.
Scroll through our gallery to see every WWE Champion ever, ranked by their number(s) of title wins. Remember: this is a list of those who won the WWWF Championship, the WWF Championship or the WWE Championship. So don't come after us, Universal Champions, et al.
