Vince McMahon expected to spend close to $500M on XFL
It appears the new version of the XFL is going to be an expensive venture for Vince McMahon, as according to ESPN's Darren Rovell, the WWE chairman has told insiders he expects to spend close to $500 million in the league's first three seasons.
McMahon sold $100 million in WWE stock to begin the funding of the league through his company Alpha Entertainment, but it appears his investment in the XFL will be much higher than that.
"People were focused on the $100 million, but the truth is that doesn't even get us to the 20-yard line," XFL commissioner and CEO Oliver Luck told ESPN.
The average salaries for the 40-man rosters will be approximately $75,000, with top names making significantly more than that. That's much higher than the $45,000 average McMahon and NBC paid players in his first version of the XFL.
One of the reasons for the high costs is the league insurance policy to cover player injury, something Luck said McMahon secured before he announced the target date for the new league.
The XFL is slated to begin play in February 2020.