Vince McMahon Commits $500 Million to New XFL
WWE Chariman Vince McMahon is expected to spend $500 million on the XFL, according to ESPN.
After McMahon announced in January that he was re-launching the XFL, he sold $100 million in WWE stock to provide league funding. However, McMahon expects to spend around $500 million on the league in the first three seasons, reports ESPN.
"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.
The biggest cost for the league will be salaries for the players and coaches. Luck said that average salaries for a 40-man roster would start around $75,000, but more popular players could earn more.
The original XFL, which only lasted for one season in 2001, paid players an average of $45,000 for a 10-week schedule.
The XFL will re-launch in 2020 with eight teams of 40-man rosters playing a 10-game schedule. McMahon said the game will be played faster—in about two hours—and will be more “fan-centric.” It will not feature any crossovers from WWE talent.
The original league promised a brand of football somehow even more violent than the NFL, lasted just one season in 2001 and cost both WWE and NBC millions of dollars.
