McMahon previously ran the XFL, which lasted just one season (2001) and lost his company and broadcast partner NBC a total of $US138 million.
Last week, reports emerged stating that Vince McMahon was thinking about setting up a separate company away from the WWE called Alpha Entertainment, in which he is planning to bring back his former football league with, the XFL.
It is unclear what this means for WWE, though, given McMahon already spends nearly all of his time on running the company.
President Donald Trump is a longtime McMahon family friend and many people are speculating that the new organization would have the full backing of Trump, especially given his less than supportive tweets aimed at the National Football League the past few months.
On Tuesday of this week, the WWE stock was trading at $33.28, however, it closed at $31.87 today.
There are still a lot of hoops to jump through in regards to getting the renegade football league back up and running again, but the movements we've seen on Thursday show that the wheels are in motion for an alternative to the NFL to make its way back into our lives.
ESPN reported that McMahonm, chairman and chief executive of World Wrestling Entertainment, filed details with the U.S. Securities and Exchange Commission about his sale of 3.34 million shares of WWE, totaling roughly $100 million.
"After the sale, Mr. McMahon beneficially owns 32,193,375 shares of the Company's Class B common stock, which represents approximately 82.8% of the Company's total voting power and approximately 41.8% of the Company's total outstanding shares of common stock", the official legalese from SEC reads.
The planned return of the XFL has already affected WWE stock and could lead to further backlash on the stock market if the defunct league is revived.