REPORT: Vince McMahon Expects To Spend $500 Million on XFL
It looks like Vince McMahon is all in and wants to make damn sure his league succeeds this time around.
Vince McMahon’s commitment to his league the second time around was expected to be astronomical in terms of the sheer money he would put up, but no one thought it would be this much.
The WWE chairman sold approximately $100 million in WWE stock and put it into Alpha Entertainment, which he also owns, and sources state that he expects to spend closer to $500 million in the league’s first three seasons, according to ESPN’s Darren Rovell.
“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, who accepted the job June 5, but starts at his office across the street from WWE headquarters in Stamford, Conn. on Monday.
Luck said the biggest cost will be the salaries to pay players and coaches. Luck, for the first time, said the average salary for the 40-man rosters will hover around $75,000, with players that 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 injury.
“I’ve been at all levels of football and the importance of a broad-based insurance program cannot be understated,” Luck said.
Shortly after McMahon announced the XFL would be making a comeback — Charlie Ebersol, director of the ESPN “30 for 30” film on the ill-fated XFL, announced the launch of The Alliance of American Football, which will premiere one year before the XFL.