Vince McMahon declares bankruptcy after betting on Undertaker
Professional wrestling promoter and former billionaire Vince McMahon has declared bankruptcy after betting his entire vast fortune on the Undertaker defeating Brock Lesnar at the recent WrestleMania pay-per-view.
McMahon, like practically every wrestling spectator on earth, believed the Undertaker’s victory was a foregone conclusion, given his flawless 21-match winning streak at past WrestleMania events.
The Chairman of WWE therefore wagered his life savings, as well as his Connecticut mansion and part-ownership of WWE, on the presumed outcome of the match.
Lesnar’s shocking victory not only ended the Undertaker’s streak, but also ended McMahon’s long-held position as the richest wrestling promoter in history.
Now penniless, a bedraggled McMahon was last seen panhandling on a Stamford street corner, offering passersby the opportunity to become members of his infamous “Kiss My Ass Club” in exchange for a dollar, which has generated little interest.
Hoping to learn how to live below the poverty line, McMahon has reportedly sought advice from several members of the TNA roster.