The XFL lost $60 million this past season, according to Forbes, the first season since Vince McMahon sold the league to a group led by Dwayne “The Rock” Johnson in late 2020.
This version of the XFL under Johnson and longtime business partner and ex-wife Dany Garcia led a consortium to purchase the league for $15 million, which returned this past season.
Despite the financial loss Johnson insists that the “league of opportunity” will have long-term success.
“Football was my dream,” Johnson said in an interview with Forbes. “The NFL was my thing. I was going to buy my parents their first house. Football didn’t end on my terms. I wish I’d had the XFL when I was coming out.”
As of May 22, 67 players who participated in the XFL during the 2023 season had been invited workout for NFL teams. Twenty-two of them signed NFL contracts, according to the league.
Johnson insists that the XFL is not a side business for him, and that the league has a vision under the current model they’re following.
“This is not just an endeavor that’s going to fill up a portfolio and one day we flip it and we’re out,” Johnson said. “This is legacy. This is the long game.”
The league is projecting $100 million in revenue next season, Forbes indicated.
Nearly one-quarter of its income comes from ESPN, which pays the league $20 million per season.
The aforementioned Garcia, chair of the XFL, echoed Johnson’s sentiments regarding the league’s ability to progress.
“We’re extremely well-capitalized for the long-term,” Garcia said. “This is our new WWE. The next massive live property.”
Eight teams played in the XFL this past season, which ended on May 13 after the Arlington Renegades defeated DC Defenders in the league’s Championship game.
The Renegades were 4-6 in the regular season, while the Defenders finished 9-1.
The championship game had over 22,000 fans in attendance and was reportedly watched by 1.4 million people on TV.
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