Vince McMahon Sells $100 Million Worth of Shares to Fund Alpha Entertainment

Submitted by Jeff Whalen on December 21, 2017 - 9:20pm
Posted In:
[Previous Article] - [Next Article] - [Contact Author] - [Forums]



Sponsored Links

-- In what could potentially be a revealing move amidst rumors of him getting back into the football business, WWE CEO Vince McMahon sold 3.34 million shares of WWE, which amounts to roughly $100 million.

-- According to the filing, McMahon sold his shares "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."

-- As noted earlier in the week, McMahon has already filed for several XFL and football related trademarks, fueling further rumors that he is either going to re-launch the XFL or some other variation of a football league separate from WWE, but which for all intents and purposes will be funded by his pro wrestling corporation.

"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."





Menu Image
Search rajah.com:





© 1997 - 2018 Rajah.com || Contact Us || Privacy Policy

This site uses cookies to deliver its services, to personalize ads and to analyze traffic. Information about your use of this site is shared with its partners. By using this site, you agree to its use of cookies. For details, click here.