With the Alliance of American Football barely clinging to life, America’s other spring football league has plenty of cash on hand.
Vince McMahon, who plans to give the XFL another shot next year, has sold $272 million worth of WWE stock, and company filings say that money will primarily go toward the XFL.
“Mr. McMahon executed the sale primarily to fund a separate entity from the Company . . . which Mr. McMahon established to explore investment opportunities across the sports and entertainment landscapes, including launching a professional football league under the name ‘XFL’,” the company said in its SEC filing.
McMahon still controls the WWE, but he has made it clear that he’s serious about pouring his own money into the XFL. McMahon has said he’s ready to spend $500 million over the first three years of the XFL to get the league off the ground, suggesting that even if the league struggles to gain traction at first, he’ll stick with it rather than pulling the plug after one season, which he did last time he launched the XFL — and which the AAF is doing today.