With a net worth in the billions, it's no secret WWE Chairman and CEO Vince McMahon has some money to play around with. He could buy a fancy new yacht or a piece of vintage sports memorabilia and still be living large. Nobody is to judge how someone spends their hard-earned cash, but pro wrestling's leader is prepared to lose a good chunk of change in the coming years.
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The XFL is back, and that's great news for football fans everywhere. And unlike the failed Alliance of American Football (AAF), this professional football league is here to stay. Sure, it might not challenge the NFL or have an event as big as the Super Bowl, but you better believe McMahon and XFL commissioner Oliver Luck are willing to do whatever it takes to be successful.
Back in June 2018, ESPN reported McMahon was expected to spend $500 million in the reboot league's first three seasons. He started his funding by selling $100 million worth of WWE stock and putting it into Alpha Entertainment. That's obviously a lot of money, and yet it still doesn't seem like a lot, especially considering what he's expecting to lose.
According to multiple reports, including Dave Meltzer of the Wrestling Observer Radio and Ringside News, McMahon's plan at the moment is to lose $375 million in the first three years of the XFL relaunch.
Vince McMahon XFL Investment
Vince McMahon is set to lose a crazy amount of money when the XFL launches:https://t.co/LudAddPRMy
— WrestleTalk (@WrestleTalk_TV) February 3, 2020
In 2001, when the old XFL ended, Vince McMahon lost approximately $35 million. It stung back then, no doubt, but the World Wrestling Entertainment CEO is ready to make a big push with the new XFL and give everyone the pro football league it deserves.
There is a plan in place, of course. Mr. McMahon might lose the money initially over the first three seasons, but the hope of a big-time television contract at the end of that is considered the winning formula this second time around, via Ringside News.
"The way it's structured is that Vince is probably gonna lose $375 million on this league and he will and he knows and that's what he's gonna do and at the end of those three years the idea is that he will be able to get television deals that will total over $125 million a year which will cover his losses and then he's okay. You know... there's a lot of factors involved in that. Again, the ratings are one of them. If he can get... if these stations feel it's valuable to pay that much. It's not as long of a shot as everyone thinks."
Would Fox be interested? How about NBC or CBS? Only time will tell, especially after this first season of spring football, but there is definitely hype and buzz for this to be more successful than the original XFL.
For starters, the teams are in great markets. Having Dallas, Houston, Los Angeles, New York, St. Louis, Seattle, Tampa Bay and Washington D.C. on the list is huge and could play a major role in whether or not the league gets its lucrative television deal.
At the end of the day, though, the fact McMahon is prepared to lose $375 million just to get this going is a sign of dedication. It's also pretty insane.
