It looks like the stock market didn’t take like news that Vince McMahon sold some of his WWE stocks.
News came out on Thursday that WWE Chairman and CEO Vince McMahon sold off $100 million in stocks of WWE in order to fund a possible resurrection of the Extreme Football League (XFL), which only lasted one season back in 2001.
As a Reddit poster pointed out on Friday, WWE’s stock has taken a hit and is down over two points now that it’s been revealed what McMahon has done.
This is normal, but if McMahon ends up announcing that the XFL is coming back, the stock for WWE will likely fall a little more. We can’t imagine that investors would be confident in XFL becoming a success a second time around.
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It continues to look like McMahon plans on relaunching the XFL after he filed for five trademarks that pertain to the league, as well as starting a new company in September called Alpha Entertainment.
A WWE spokesman even told Deadspin that McMahon “has established and is personally funding a separate entity from WWE, Alpha Entertainment, to explore investment opportunities across the sports and entertainment landscape, including professional football.”
Aside from the XFL trademarks, Alpha Entertainment also filed trademarks for “URFL” and “UrFL” back in September. A company that has the same initials as McMahon, VKM Ventures LLC, filed trademarks for “For the Love of Football” and “United Football League” around the same time.
If McMahon does bring back the XFL, he has to believe that he could end up having a better product than the NFL, whose ratings have been dropping over the past two years.
The only problem is that the XFL was known for being more violent than the NFL and having fewer rules. In this day and age where head injuries are a major concern, we are not sure how McMahon could make his league better than the NFL without having any regards for safety.
Another issue with the XFL was the fact that the level of play wasn’t very good. Some players like former quarterback Tommy Maddox stood out and were able to get jobs in the NFL, but overall, it was a terrible looking product.
Comment below and tell us whether you think the XFL could work out a second time around.
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