WWE Chairman & CEO Vince McMahon sold 306,000 shares of company stock back on November 30.
WWE made a new SEC filing on Monday and revealed that McMahon sold 306,000 shares of WWE stock for a total of $22,866,523.61.
It’s possible Vince unloaded the stock to help finance the XFL launch planned for 2020. Vince sold $100 million worth of stock to launch the Alpha Entertainment company last year as the parent company of the league, and he has reportedly told people that he expects to spend an estimated $500 million in the first three years of operations. The league is scheduled to officially announce the 8 host cities & venues for the inaugural season on Wednesday.
Vince still owns 31,887,375 shares of stock, which would be worth almost $2.4 billion at the current stock price of $73.59 per share.