Copyright © 2026 Knight Sac Media. All rights reserved.https://www.siliconinvestor.com/subject.aspx?subjectid=31124 Sports IPOs: WWF Brings Power to the Street Friday, October 8, 1999 By Jeffrey R. Hirschkorn IPO.com Traditionally, stock offerings in sporting companies haven't churned out solid performances in the aftermarket. Although, with speculation swirling around the Street that George Steinbrenner, principal owner of The New York Yankees may float a 20% stake in the newly merged entity called YankeesNets that would be a fan's dream. Another offering from a sports titan is on deck to price during the week of Oct. 18. The World Wrestling Federation, founded in 1980 by the McMahon family plans to tap the public market with a ten million-share IPO at a targeted range of $14 to $16 a share and trade on Nasdaq under the ticker WWFE. Through a tag team syndicate comprised of Bear, Stearns, Credit Suisse First Boston, Merrill Lynch and e-banking specialist Wit Capital, the WWF anticipates raising $150 million, assuming the deal gets priced at the current mid-point of talk. "When the WWF offering comes up to bat, investors will be lining up to get a piece of a winning dynasty," said Randall Roth, senior analyst at Renaissance Capital Management at press time. "Investors can actually say that they own a piece of The Rock." Only bringing a portion of the cash generator public, current ownership retains nearly all of the voting power through the ownership of class B shares that carry ten votes a share. Investors purchasing the class A shares garner one vote a share. Earmarking proceeds for working capital and other corporate usages, WWFE has come a long way. Making the WWF famous in the 80's and 90's was Hulk Hogan who centered attention on helping kids stay focused with life through a widely profitable campaign called Hulkamania. The "Hulkster" brought out millions of fans to see his routine that included the famous leg drop and who could forget the famous double referee incident that caused the heavyweight title to be vacated. Most notable, Hogan established his presence in the ring with his famous theme song I'm a Real American. While the events that transpire in the ring aren't real, the money made by The World Wrestling Federation certainly is. The premier wrestling organization headed by Vince McMahon has made its bread and butter from astronomical prices associated with pay-per-view events and wrestling extravaganzas. Proving that McMahon knows how to steer the money cow is the impressive financials the company boasts. For the quarter ended July 30, net revenues soared to $76.2 million, representing a 95% increase over the same period last year when the sports titan report revenues of $39 million. Attributing to the huge rise in revenues was a 91% increase in live event sales that was associated to increased pay-per-view purchases. "While the WWF is a money maker, there i...https://www.siliconinvestor.com/images/Logo380x132.pnghttps://www.siliconinvestor.com/subject.aspx?subjectid=3112438013210