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December 21, 2017

Vince McMahon Sells 3.34 Million Shares Of WWE Stock To Fund His Alpha Entertainment LLC Company

According to a recent SEC filing, Vince McMahon has just sold 3.34 million shares of WWE stock (valued at about $105 million currently) to fund his new Alpha Entertainment LLC company.

The filing stated:

“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.”

As noted in the report, McMahon is exploring options in the sports and entertainment worlds with the new LLC. It’s been speculated that McMahon was also looking to bring back the XFL, with wrestling journalist Brad Shepard reporting this is the case, and that an announcement could come as soon as January 25th, 2018.


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