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Vince McMahon spending $500 million on new XFL

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Vince McMahon spending $500 million on new XFL

Postby KaiserGlider » Jun 30, '18, 9:27 pm

http://www.espn.com/nfl/story/_/id/2394 ... illion-xfl


Vince McMahon's commitment to his relaunched football league, the XFL, is significantly larger than originally expected.

The WWE chairman, who began funding the league by selling approximately $100 million in WWE stock and putting it into his wholly owned subsidiary Alpha Entertainment, has informed insiders that he expects to spend closer to $500 million in the league's first three seasons. The XFL is scheduled to reboot in February 2020.

"People were focused on the $100 million, but the truth is that doesn't even get us to the 20-yard line," league CEO and commissioner Oliver Luck told ESPN. Luck accepted the job June 5 and starts at his office across the street from WWE headquarters in Stamford, Connecticut, on Monday.

Luck said the biggest cost will be the salaries to pay players and coaches. He said that the average salary for the 40-man rosters will hover around $75,000, with players who are more in demand making much more than that. Players in the first iteration of the XFL, co-owned by McMahon and NBC, paid players an average of $45,000 for a 10-week schedule.

Another significant cost is insurance to cover player injuries.

"I've been at all levels of football, and the importance of a broad-based insurance program cannot be understated," Luck said.

Luck said that before McMahon announced the relaunch of the league, one of his first moves was to secure an insurance policy for the league.

"There are very few participants who underwrite for this market anymore and it is obviously costly," he said.

Luck didn't say how much coverage the league will have but did say that the insurance premiums will come to more than $10 million a year.

Shortly after McMahon announced the XFL would be coming back, Charlie Ebersol announced the launch of another professional football league, the Alliance of American Football. Ebersol directed the ESPN "30 for 30" film on the ill-fated XFL, which lasted just one season in 2001.

Ebersol, whose father, Dick, is the former president of NBC Sports and McMahon's partner on the original XFL, scheduled his league to launch a year before the XFL and has already announced the eight teams and the markets they will play in -- Atlanta, Orlando, Birmingham, Memphis, San Antonio, Salt Lake, San Diego and Phoenix.

Significantly less is known of the financial commitment the AAF has made, as the league has said that is private information. Initial investors are Peter Chernin, Peter Thiel and former NFL Pro Bowler Jared Allen.


Football experts: how much success will this have?
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Re: Vince McMahon spending $500 million on new XFL

Postby The Legend » Jul 01, '18, 9:24 am

How much success? As much success as the USFL, the first XFL and all the other football leagues that have tried to rise up. The NFL is an unbeatable force and nobody is going to ever cut their popularity or their profitability. I wish I had half a billion dollars that I could just throw away as a tax write off.
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Re: Vince McMahon spending $500 million on new XFL

Postby Hanley! » Jul 01, '18, 1:52 pm

I can't remember the name, but I heard that someone else is attempting to start a new football league in 2019 also. The XFL rebirth always seemed a dumb idea to me, but that just might kill it dead before it even gets out of the gate. It can't just be the counterargument to the NFL if there's more competition out there.

The timing of the new XFL makes me uncomfortable anyway, particularly given the McMahon's political affiliations. Do we really want to support a racist, jingoistic football league?
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Re: Vince McMahon spending $500 million on new XFL

Postby The Legend » Jul 02, '18, 8:10 am

Hanley! wrote:I can't remember the name, but I heard that someone else is attempting to start a new football league in 2019 also. The XFL rebirth always seemed a dumb idea to me, but that just might kill it dead before it even gets out of the gate. It can't just be the counterargument to the NFL if there's more competition out there.

The timing of the new XFL makes me uncomfortable anyway, particularly given the McMahon's political affiliations. Do we really want to support a racist, jingoistic football league?


The league you are referring to is the AAF (Alliance of American Football) and it will start up the week after this coming Super Bowl (about a year before the XFL). It has some interesting concepts (like instead of having owners on one side and players on the other it is giving players a voice and partial ownership of the league). It also is likely to fail, but I'd be more aligned to give it a shot, because it sounds like a decent idea and as you pointed out seems fair. The old XFL tried to be revolutionary, the new XFL is just a McMahon-Trump alliance to try and make the world ever more xenophobic.
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Re: Vince McMahon spending $500 million on new XFL

Postby DBSoT » Jul 02, '18, 12:25 pm

This league only has one chance of surviving and it is already heading in the wrong direction. To be successful, the XFL has to embrace the college football audience that the NFL has moved away from. They can't allow themselves to be the NFL-lite. No wants to watch the NFL with less talented players and harsher rules. Bring in coaches that run the the Air-Raid, triple option, Pistol option, gadget plays etc. Be open to bringing in players with less than desirable backgrounds. I don't mean the Greg Hardy's of the world, but Johnny Manziel would be possible. The teams should be located in major college football markets (Tallahassee, Tuscaloosa, Athens, Columbus, Ann Arbor, East Lansing, Austin, Norman, Clemson, etc). These areas already have huge football stadiums in place that aren't used during the summer and the schools could split the ticket sales/concessions.
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