WWE chairman and XFL owner Vince McMahon is looking to invest far more money in the reboot of the XFL, which is scheduled to launch in February 2020.
McMahon sold approximately $100 million in WWE stock and placed it in his wholly owned subsidiary Alpha Entertainment, but now he has informed insiders that he expects to spend closer to $500 million in the league’s first three seasons.
“People were focused on the $100 million, but the truth is that doesn’t even get us to the 20-yard line,” XFL CEO and commissioner Oliver Luck said, according to ESPN.
Luck said the biggest cost will be the salaries to pay players and coaches saying that the average salary for the 40-man rosters will hover around $75,000 which is a jump from the originally XFL where players made $45,000 for a 10-week schedule.
Another significant cost is to secure an insurance policy for the league.
“There are very few participants who underwrite for this market anymore and it is obviously costly,” Luck said.
The XFL will start with competition right out of the gate as the Alliance of American Football will already have one season under it’s belt by the time the XFL reboots.