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WWE Chairman Vince McMahon will spend $ 500 million of his own money on a new XFL



Vince McMahon enters his plans for the new XFL.

The WWE chairman shows his commitment to revive the football league by investing $ 500 million of his own money in the first three seasons of his return, a person with knowledge of the decision tells TheWrap.

As TheWrap previously reported, McMahon began supporting the league by selling $ 100 million worth of WWE shares and moving it to Alpha Entertainment, its wholly owned subsidiary. However, that did not turn out to be close to what they'll need to make this thing happen.

"People focused on the $ 100 million, but the truth is we do not even reach the 20-meter line, "said League CEO and Commissioner Oliver Luck ESPN.

The average salary for the 40-man rosters is set at around $ 75,000, with the cost of insurance being an additional factor that increases the cost of running the league.

The XFL is scheduled to launch in February 2020.

More to follow …


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