The XFL, an American football minor league comprising eight teams across the United States, has garnered renewed attention. The league, previously less celebrated, underwent a significant transformation with Johnson’s entry into the fold.
In August 2020, Dwayne Johnson, in collaboration with a consortium of investors, which included his business partner Dany Garcia and RedBird Capital Partners, completed the acquisition of the XFL. This strategic move came as a lifeline for the league, which had declared bankruptcy in April 2020, seeking a viable buyer.
The acquisition was executed at a reported price tag of $15 million. Moreover, it was the third attempt to rejuvenate the league after two previous unsuccessful endeavors.
While the journey to profitability has been marked by challenges, the league has recently shown promise. According to Forbes, the XFL had a significant financial setback earlier this year in 2023, sustaining a loss of around $60 million and prompting the unfortunate reduction of its personnel. However, with 2024 on the horizon, the league is positioned for a potential turnaround, with forecasts of up to $100 million in earnings.
The league’s owners remain cautiously optimistic about their future prospects. Despite the financial hardships, the XFL managed to secure an average of 14.4 thousand viewers per game. Additionally, it exhibited an impressive 18% growth rate during week 10 of its operation.
Not only this, an astounding 28 million fans tuned in to watch XFL games in 2023. Lastly, it garnered an additional 770 thousand followers across various social media platforms. Overall, these promising metrics underscore a trajectory of long-term growth and prosperity for the XFL.
XFL is expected to be merged with USFL
The XFL and USFL, two promising alternatives to the NFL, are now in advanced discussions about a potential merger. This strategic move arises from the shared recognition of the challenges they face because of the NFL.
Sources reveal that this merger would be a partnership of equals, a formidable union that must first secure regulatory approval. The ambitious goal is to finalize the merger in time for the 2024 season. It will the stage for an exciting new era in professional football.
Notably, Fox Corp. boasts ownership of the USFL, while the XFL is under the stewardship of none other than Dwayne “The Rock” Johnson, alongside his business partner Dany Garcia and RedBird Capital Partners.
In terms of broadcasting, game coverage for this combined league is expected to be divided between Fox and XFL media partner Disney. The USFL, on the other hand, has a broadcast agreement with NBC, however, the fate of this collaboration is unclear. Fans can wait for the official confirmation which is expected to be announced this week.