Vince McMahon has very deep pockets but he’s claimed that no WWE money will be paying for the revival of the XFL. He sold a ton of his stock to be able to comfortably afford his new venture on the football field and although we might not have any idea which cities will be a part of the XFL’s big comeback, we know how much McMahon had to shell out to make it happen.
We previously thought Vince McMahon paid around $100 million for his latest attempt at owning a pro football company but as it turns out that number was very low.
ESPN reports that Vince McMahon has informed insiders that he actually paid close to $500 million instead. “People were focused on the $100 million, but the truth is that doesn’t even get us to the 20-yard line,” XFL CEO Oliver Luck told ESPN.
The biggest cost for the league will be salaries for players and coaches and an average salary will be around $75,000. Of course, players with much more demand could make more than that but 75 grand seemed to be the average at this juncture. During the first version of the XFL players only made around $45,000 for the season so at least they’re paying much better this time around.
With insurance premiums topping around $10 million a year there are a lot of expenses that will come with the business of holding a live sporting event as well. Therefore, Vince McMahon’s investment of $100 million certainly helped but it won’t do much to really see this vision to the end zone due to all of the costs associated with this kind of undertaking.