Vince McMahon’s relaunch of the XFL is coming in 2020. Now some investors want answers about how they’re handling the money.
We previously reported that a WWE investor has sued the company for more information. This case in the Delaware Chancery Court against WWE is seeking to find out how Vince McMahon is keeping his two companies separate.
Forbes reports additional details on the lawsuit including what they are looking for. The plaintiff owns 107 shares of WWE stock valued at around $6,860.
The Oklahoma Firefighters Pension and Retirement fund is seeking to find out how WWE is being compensated for any owned trademarks. There is a question whether Vince McMahon had deals secured when making the initial XFL re-launch announcement. They also want to know if Vince McMahon had WWE’s best interests in mind when making those deals.
- Did Alpha Entertainment, the XFL’s parent company, which is wholly owned by Vince McMahon, pay fair market value to WWE for the intellectual property of the original XFL, which included giving WWE a percentage of the company?
- Is Alpha paying WWE fair market value for the support services that WWE is providing as part of that deal?
- Was the XFL revival announced before the deal was completed?
- In general, did McMahon and WWE, including WWE’s lawyers, act in a way that was not in WWE’s best interests?
This case is just getting going and it could be a long time until we hear any momentum. We will continue to monitor this situation and bring any updates as this on-going story develops.
Thanks to Wrestlenomics Radio for the notes