I know there are a ton of people in the world with money, but can Vince McMahon actually find a buyer for the XFL?
The XFL’s bankruptcy was filed under Chapter 11. Chapter 11 is used for a company to reorganize, and now the XFL is up for sale. McMahon still would like to be a part of the XFL, according to reports, but it must happen quickly.
You have one month and one day to submit a letter of intent to buy the XFL, if you have not heard. The XFL and owner Vince McMahon is reportedly going to sell the rights to the XFL.
Dan Primack of Axios is reporting that Houlihan Lokey is managing the sale and any party interested in buying the XFL must submit a letter of intent by June 12th, with formal bids for the league ending on July 6.
XFL Attendance was really good through six weeks
The XFL claims to have been on page to generate $46 million in revenue during its debut season, before it was cut short.
This includes average game attendance of nearly 20,000, with an attendee net promoter score of 66. Plus 1.9 million average broadcast viewers for nationally distributed games.
Both attendance and viewership were declining as the season progressed — something not noted in the pitch deck — but not the sort of crashes seen by the XFL in its first incarnation or by the more recent upstart failure of the Alliance of American Football.
I honestly believe that the XFL would make money and it would give players a shot, but there are so many expenses. Until the NFL backs a league, I cannot see a league making it on it’s own. There are too many expenses.
There are crazy rich people who want to buy a pro team that may not be able to afford it. Last week, Alex Rodriguez and Jennifer Lopez tried to buy the New York Mets, and even though they are rich they could not get the backing. Could a former player like Peyton Manning that has a ton of money buy the league? I doubt it, but it sounds good.