To follow up on our earlier story about a report on Heavy.com that stated that WWE Executive Vice President of Global Media Shane McMahon recently cashed out $50 of his $80 million dollars in WWE stock to possibly buy a stake in the UFC, it turns out to not be the case. According to a report on WrestlingINC.com, McMahon had sold a minor amount of his stock back in July, but he has made no sales since, according to the WWE SEC Filing Page. Since Shane is an officer of the company, the WWE would have to report any sales of stock that he makes.
Shane McMahon and former WWE Canada President Carl DeMarco met with the UFC earlier this month. UFC President Dana White has declined to discuss in detail the meeting he had with McMahon, simply noting that he was a good friend and “you never know.”
McMahon, son of WWE CEO Vince McMahon, gave his notice to WWE last month and will be leaving the organization effective January 1, 2010.
“Shane has decided to pursue other opportunities in the marketplace,” Vince McMahon said during a conference call with WWE investors earlier this month. “Some people perceive this to be a family business, but I do not.”
Shane McMahon is a big MMA fan, and at one point in time had talks with PRIDE about purchasing the company before PRIDE sold to Zuffa. Apparently the deal was dead despite the McMahons’ having enough money to purchase the organization due to Vince McMahon’s lack of interest in MMA.
It appears that if Shane McMahon were to work with the UFC, it would be as an employee and not as an investor. McMahon would likely help the UFC expand internationally. Stay tuned to FightLine.com for further updates on this story.