WWE Rumors: Vince McMahon's role in the company after selling shares revealed?
- Is Vince putting in his time and money into XFL?
What's the story?
According to Fightful, Vince McMahon will remain WWE Chairman going forward despite selling a large chunk of his shares.
Vince McMahon is preparing to launch the XFL in 2020.
In case you didn't know
Vince McMahon has always wanted to be the king of the world. After buying WCW in 2001, Vince McMahon launched his own football league called XFL the same year.
The Extreme Football League was meant to rival the NFL. In 2001, It was a joint venture between NBC and WWE. Essentially, the league had no franchise owners and was a single entity league.
The league ended being a failure with heavy losses for WWE. The ratings were abysmal, to say the least with critics that the league's fundamentals just didn't work.
But Vince McMahon never gives up. In late 2017, Vince McMahon sold a large chunk of WWE stock to form Alpha Entertainment. In January 2018, Alpha Entertainment announced that the XFL would return.
The heart of the matter
Most of the WWE Universe believe that Vince McMahon will be busy with his new venture, he won't have time for WWE. This would leave the door open to Triple H and Stephanie taking over. But that doesn't seem to be the case.
As originally reported by Brandon Howard Thurston on Twitter,
Vince McMahon today sold over 3 million shares of his WWE stock, a value of roughly $270 million. The sale was primarily to fund Alpha Entertainment/XFL. After the sale, Vince still has 36.8% of company stock and 80.1% of voting power.
The report goes more into depth but it does highlight
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.
It does seem likely that Vince McMahon is not going anywhere. Vince McMahon may be 73 but he's not ready to leave WWE any time soon.
Vince Mcmahon plans to launch the XFL in 2020. In the meantime, WrestleMania 35 will be held on April 07, 2019 with Ronda Rousey, Becky Lynch, and Charlotte Flair headlining the show of shows.
Do you think the XFL will be a success? Comment belowPublished 28 Mar 2019, 11:05 IST