McMahon to spend $500 million to restart XFL

XFL commissioner Oliver Luck said players will earn an average of $75,000 when the league begins play in February 2020.Photo Credit: Ben Queen-USA TODAY Sports (file photo)

Vince McMahon said he plans to spend $500 million over the first three seasons of the XFL.

The reincarnation of the XFL is scheduled to begin in February 2020.

McMahon, chairman and founder of World Wrestling Entertainment, initially sold $100 million worth of the professional wrestling league’s stock when he decided to bring back the XFL.

XFL commissioner Oliver Luck told ESPN that the largest expense of the league will be on salaries for players and coaches. The average salary will be about $75,000, with well-known players perhaps earning more.

By contrast, the NFL spends about $5 billion per year on players’ salaries alone.

The XFL’s first run in 2001 lasted just one season and reportedly lost as much as $50 million.

The resurrection of the XFL is expected to field eight teams with a 10-game schedule. Four teams will advance to the playoffs.