WWE is suddenly worth a whole boatload of money. Vince McMahon’s professional wrestling sports entertainment monolith is worth over a billion more dollars than it was this time last year, clocking in at a market valuation of $2.5 billion. And what does Vince do when he is worth a ton of money and feels invincible? He creates failed spinoff companies!

WWE responded to an inquiry from Deadspin explaining that Vince McMahon has created a new company separate from WWE named "Alpha Entertainment" (of course it is), "to explore investment opportunities across the sports and entertainment landscapes, including professional football."

Vince McMahon hasn’t attempted to create a new foothold in the sports or entertainment worlds outside of WWE since the failed single season of the original XFL in 2001. XFL, a joint venture between the then-WWF and NBC, suffered horrible ratings after an initial spike of interest, thanks to wonky timeslots and poorly played football. The XFL attempted to mimic the WWF’s massive success at the time by introducing wacky backstage segments and scantily clad women (you know, the reason everyone likes wrestling!) to no avail.

WWE has apparently also renewed a trademark for "He Hate Me", according to David Bixenspan, writer for Deadspin. "He Hate Me" is the infamous nickname of player Rod Smart, who played for the XFL’s Las Vegas Outlaws and went on to play in the 2003 Super Bowl as a member of the NFL’s Carolina Panthers. One of the XFL’s attempts to stand apart from the NFL was allowing players to choose their own pro wrestling-style nicknames to emblazon on the backs of their jerseys.

So while it’s still far from confirmed and could easily be something else — other speculation includes some sort of an e-sports league — it may be time to dust off your Los Angeles Xtreme hat, throw back a couple Steveweiser and get ready for some mediocre, gimmick infused football!

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