WWE shareholders may have raised eyebrows at the disclosure that WWE owns 23.5 percent of the Class B stock in the XFL, especially since Vince McMahon said in 2018 that the venture would be “strictly funded” by McMahon.
As it turns out, it was.
Relevant SEC filings made by WWE reveal that the company received equity in the XFL at no payment or other financial obligation, as apparent consideration for granting McMahon the authority to launch the XFL via a separate entity, Alpha Entertainment LLC.
Still, the equity interest contradicts McMahon’s claim that there would be no crossover with WWE. Obviously, there was. But it cost WWE nothing -- which is good because it may end up being worth nothing, too.
