The XFL was a colossal failure for Vince McMahon and NBC. But never tell ol’ Vinny Mac what he can and can’t do, because it looks like the WWE chairman is freakin’ going for it again.
You may have heard the news in recent weeks that McMahon had started a new company, separate from his pro wrestling enterprise, called Alpha Entertainment. According to a spokesperson, the purpose of this company is to “explore investment opportunities across the sports and entertainment landscape, including professional football.” The project is being funded personally by McMahon, and he made a drastic move earlier this week to give it an influx of cash.
— Chris Harrington (@mookieghana) December 21, 2017
McMahon sold just over $100 million worth of WWE stock, which will presumably provide capital for whatever it is that Alpha Entertainment has planned. While it’s true that McMahon has given up a little bit of WWE ownership by selling these shares, they actually amount to less than five percent of the total shares. That means Vince is still the majority owner of WWE, for now.
Alpha Entertainment has filed for a couple interesting trademarks so far, including the “XFL” and the “UFL” and the “URFL.” It’s widely considered that the XFL trademarks are simply renewals of previous ones, especially as the ESPN 30 for 30 documentary This Was The XFL recently came out to much fan interest. The other trademarks, however, are likely to be the first seeds of a new professional football league that McMahon is determined to get off the ground.
The original XFL cost the WWE (and therefore Vince McMahon) and NBC almost $40 million when it failed miserably back in 2001. It’s unlikely that anyone will be willing to partner with McMahon on another pro football league, so it looks like he’s going to just pony up his own dough to make it happen. Godspeed, you crazy man.