But ... it's all a load of bollox.
Social networking site Twitter has been buzzing with rumours that McMahon is reported to be interested in purchasing the club from current owner Mike Ashley.
Ashley has come in for renewed criticism from fans after the club sold prize asset Yohan Cabaye to Paris St Germain in the January transfer window, and he celebrated Spurs' 4-0 win over Newcastle in Leicester Square last week.
Ashley bought a controlling interest in the club from Sir John Hall and Freddy Shepherd in 2007 for a reported £134m.
Its current value is said by US business magazine Forbes to be in the region of £168m, but Ashley would also expect interest-free loans which he has made to the club to be repaid.
The rumour suggested billionaire McMahon has been checking out the club with a view to making a bid.
It quoted a ‘Newcastle insider’ as saying: “Vince McMahon has been sniffing around the club and seems keen on pursuing his interest.
“He sees England as an untapped market for his wrestling empire. He has even indicated he could put on wrestling bouts at St James’s Park.
“Obviously it is very early days, but there is hope the fans may get what they want, with Ashley leaving.
“Buying a club like Newcastle would throw him into the spotlight in England, which is just what he is looking to do.”
However, sources at Newcastle have dismissed the report.
"The club is not for sale, although Mike Ashley could be persuaded to sell if the price was right."