Vince McMahon Sells Millions Of Dollars Worth Of WWE Stock To Help Fund The XFL
A new SEC filing made by WWE today revealed that Vince McMahon sold 3,204,427 shares of company stock, worth around $270 million.
The filing noted that the sale was primarily to fund Vince's Alpha Entertainment LLC, which oversees the XFL football league that will re-launch in 2020. Vince informed the company that he has no current plan to sell additional shares, and that he intends to continue his role as WWE Chairman and CEO for the foreseeable future.
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The shares sold today represent 4.1% of the total outstanding shares of stock. Vince still owns 28,682,948 shares of WWE stock, which represents approximately 36.8% of the company's total shares of stock and 80.1% of the total voting power.