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In a disappointing turn of events, Dwayne “The Rock” Johnson’s revitalization of the XFL has faced significant financial challenges during its first season in 2023.
According to a report by Forbes’s Jabari Young, the XFL suffered losses exceeding $60 million and the organization had to make difficult decisions and reduce its workforce.
This season marked the return of the XFL after its previous attempt in 2020 was cut short due to the devastating impact of the Coronavirus pandemic. Furthermore, it was the first full season for the XFL since its initial incarnation in 2001, which unfortunately led to the league folding.
While Forbes estimates that the XFL incurred losses of around $60 million throughout the 2023 season, there are optimistic projections for the future. The XFL reportedly anticipates generating $100 million in revenue during the upcoming season.
It is worth noting that approximately 25% of the league’s income stems from its broadcasting deal with ESPN, which pays $20 million per season.
Despite the financial setback, Dwayne Johnson, who holds a controlling interest in the XFL along with his business partner Dany Garcia, remains committed to not only expanding the league’s fan base but also transforming it into a profitable venture.
Acknowledging the challenges faced during the first year under his ownership, Johnson remains optimistic and believes that there is a viable path forward.
Johnson’s vision for the XFL extends far beyond short-term gains. He emphasized that his goal was to overcome the initial season hurdles and build a lasting legacy.
“My goal was to get through the first season,” Johnson said. “This is not just an endeavor that’s going to full up a portfolio and one day we flip it and we’re out. This is legacy. This is the long game.”
As the XFL enters a critical phase in its journey, only time will reveal the ultimate outcome of Johnson and Garcia’s ambitious venture. Regardless of the challenges they face, it is evident that they are not backing down.