Vince McMahon and WWE are being sued by a shareholder over suspected overlap between the wrestling company and the XFL football league.
Upon relaunching the XFL, McMahon declared that his wrestling operation would be independent of the upstart football organization. In order to do so, he started Alpha Entertainment to fund the venture independently.
However, according to the lawsuit that was filed on December 26th in Delaware Chancery Court by an Oklahoma firefighters pension fund, the group believes that McMahon and other senior WWE officers are violating their duties to investors by using WWE resources to help fund the XFL.
According to a report from Bloomberg Law, breach of duty isn't the only thing being alleged in the lawsuit. It also states that WWE's board members may have failed to ensure that McMahon would not "engage in transactions that conflict with WWE's interests" as it relates to the XFL.
The lawsuit is asking for access to records that specifically detail how involved WWE has been with XFL. The Bloomberg Law report states that Oklahoma firefighters pension fund has "a credible basis to believe" that their suspicions are correct on both of these allegations.0comments
What kind of impact this lawsuit will actually have on the XFL and WWE remains to be seen. The process could move forward with McMahon and his company having to spend money and time defending themselves in court. It's also possible that the issue could be settled out of court.
The XFL is scheduled to kickoff in February 2020 following the conclusion of the NFL season. The first game will be on Saturday, February 8th at 2:00 p.m. Eastern when Seattle visits Washington, D.C. The inaugural game will be broadcast on ABC.
Did you know ComicBook.com has a podcast? That's right folks, ComicBook Nation is available every Wednesday and Friday bringing you the best breakdowns of the week's biggest news from Kofi Outlaw, Matt Aguilar, Janell Wheeler & the rest of the staff at the site. Catch the newest episode right here or subscribe on iTunes today!
Disclosure: ComicBook is owned by CBS Interactive, a division of ViacomCBS.