WWE Chairman and CEO Vince McMahon continues to sell off shares of WWE as he prepares for the re-launch of his football league, the XFL, in 2020.
According to recent SEC filings, McMahon recently sold 300,000 shares of WWE, valued at $74 a share, for an estimated $22 million, leaving McMahon with a hefty 3 million shares, for an estimated total well of $2 billion.
McMahon is clearly creating more financial cushion for his venture Alpha Entertainment, which owns the XFL, who recently announced the initial cities that will house XFL franchises that include Washington, Los Angeles, Dallas, Houston, Seattle, New York, St. Louis, and Tampa Bay.
As WWE has always innovative with their content distribution, highlighted by the success of the WWE Network platform, it will be interesting to see how the XFL will be setup.
With the popularity of Twitch streams and the less popular Mixer streams introducing more forms of entertainment to the potential of online streaming, it will be interesting to see how the XFL will choose to broadcast, and on how many platforms once it launches.
XFL will have it’s fair share of competition, but McMahon seems to be financially arming the league for a more successful run than it had back in the early 2000s.