Vince McMahon sells $100 million worth of WWE shares, applies for new XFL trademarks

ESPN.com is reporting that Vince McMahon has sold $100 million worth of WWE shares, primarily to help fund his new separate entity Alpha Entertainment, LLC.

The official filing noted that McMahon’s new investment entity, separate from WWE, was “established to explore investment opportunities across the sports and entertainment landscapes, including professional football.”

According to reports with the U.S. Trademark and Patent Office, Alpha recently filed for five new trademarks related to the former XFL on December 16. Previous XFL trademarks were abandoned from 2002-2005. The trademark “URFL” was also sought after.

WWE issued the following statement on the move, courtesy of PWInsider.com.

“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.”