WWE Chairman Vince McMahon has reportedly stated that he plans to spend $500 million on the XFL in the league’s first three seasons.
According to ESPN’s Darren Rovell, McMahon began the funding of the XFL by selling approximately $100 million in WWE stock, but there’s much more on the line for the new football league that is slated to kickoff in February of 202.
“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.
According to Luck, player and coaches salaries will be the biggest cost, with the average salary of the 40-man roster hovering around $75,000. Additionally, the insurance to cover player injury is another significant cost.I’ve been at all levels of football and the importance of a broad-based insurance program cannot
Here’s what we know so far about the XFL reboot thus far:
1) Vince McMahon is the sole funding source for the league. In an interview with ESPN he says, “A chance to do it with no partners, strictly funded by me, which would allow me to look in the mirror and say, ‘You were the one who screwed this up,’ or ‘You made this thing a success.'”
2) There will be 8 teams (40-man rosters) at the start of the January 2020 season. The regular season will feature 10 games, followed by two playoff games and then the championship.
3) The XFL will announce the eight cities, expected to be large and medium-sized markets, and team names in the next couple of months. Teams will be formed by 2019.
4) Salaries will be determined after the 40-man rosters are formed, but players will earn more money for winning. “To me that’s common sense,” McMahon said, per ESPN. “Everyone in America lives when they perform, they get a raise or bonus. That’s capitalism.”
5) The ideal running time for the games will be two hours. To achieve this, there will be no extended halftimes during the games.
6) Political statements, such as kneeling during the national anthem, will be prohibited.
7) “If you have any sort of criminal record or commit a crime you aren’t playing in this league.” McMahon says even if you have a DUI you will not play in the XFL, which likely means Johnny Manziel won’t be eligible.
8) There will be no cheerleaders this time around and nicknames on jerseys may not be allowed either.
9) Unlike the first XFL, McMahon won’t be involved with the league’s content and doesn’t plan to be visible during the league’s games.
10) There will be no crossover with the XFL and WWE talent.
JUST IN: Vince McMahon’s financial commitment to his new XFL isn’t $100 million, as originally reported, it’s $500 MILLION https://t.co/8IPw6S66hc
— Darren Rovell (@darrenrovell) June 29, 2018