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Something’s going on.

A few weeks ago we brought up the scary news that one of the McMahons (of World Wrestling Entertainment fame) sniffing around the UFC. But according to a variety of people who actually pay attention to that high flying elbow dropping hick soap opera, it’s the good McMahon: Shane McMahon.

I’ll let the guys on Fightlinker with PhDs in Wrestlemania tell you what separates Shane from his dad Vince and all the scummy, morally reprehensible shit that goes down in the WWE and just concentrate on the meaty question in this story: is there any truth to the rumor that Shane will be joining the UFC? Here’s what Dana said over the weekend:

* On a meeting with Shane McMahon, the son of WWE head Vince McMahon, who recently left the wrestling organization. “He’s a huge MMA fan, and you never know,” said White.

And here’s what is saying:

The sticking point, as it so often seems to be in the fight business, is money. McMahon, who recently cashed out more than $50 million in WWE stock (and still has another $30 million in stock), doesn’t want to be a mere employee. He wants to buy into a thriving company, joining Dana White as a minority owner of the company owned by Station’s Casino magnates Frank and Lorenzo Fertitta. The Fertittas have struggled mightily, and very publicly, with a real-estate bust in Las Vegas that caught them unprepared. They may actually, as strange as this seems for two billionaires, need the money. That may be the difference between whether we see Shane McMahon inside the UFC Octagon in 2010.

But hey, even if the Fertittas ‘need the money’, the UFC is already ‘making the money’, and at a pretty damn good pace too. While there seems to be little doubt that Shane McMahon could help the UFC make more, it’s a pretty big step to imagine the UFC needing to make more so badly that they’d cut someone else in on ownership. If this deal is gonna happen, it’d be more about Dana and the Fertittas really digging whatever ruthless plan for world domination Shane is selling them than anything else. Or who knows … perhaps keeping him from becoming competition.