It wasn’t supposed to end like this. The XFL 2.0 was supposed to come back in a huge way and it did just that as fans continued to tune in and come out to the stadium to watch the product.
Nobody saw a worldwide pandemic coming and it effectively shut the doors to the league possibly forever after they filed for bankruptcy and fired all employees.
Even still, Vince McMahon is still hoping to break the bank and the XFL is searching for a buyer, according to Dan Primack of Axios.com.
“Investment bank Houlihan Lokey is managing the process, with letters of intent due by June 12, according to a pitch deck obtained by Axios. Formal bids are due on July 6.
Here are the basic selling points that are laid out by the report:
- The XFL claims to have been on page to generate $46 million in revenue during its debut season, before it was cut short.
- This includes average game attendance of nearly 20,000, with an attendee net promoter score of 66. Plus 1.9 million average broadcast viewers for nationally distributed games.
- Both attendance and viewership were declining as the season progressed — something not noted in the pitch deck — but not the sort of crashes seen by the XFL in its first incarnation or by the more recent upstart failure of the Alliance of American Football.
Seeing as how the XFL filed for Chapter 11, it appears the league is trying to proceed, but it will be under different ownership than Vince McMahon.