The XFL was back this year after the previous reboot of the spring football league stalled as a result of COVID-19. But while the league did have a successful season on the field, that doesn’t mean it was profitable to the bottom line.
According to a report from Forbes, the XFL lost an estimated $60 million in 2023 and is cutting some jobs. But the league is still optimistic about the future.
“We’re extremely well-capitalized for the long-term,” said XFL chair Dany Garcia. “This is our new WWE. The next massive live property.”
Even though the XFL is not yet profitable, Gerry Cardinale – who founded and runs XFL co-owner RedBird Capital – thinks that the XFL can become profitable in five years.
“It’s not a flip the switch and all of a sudden you’re successful,” he told Forbes. “It took MLS 30 years to get to their current average team and implied league valuations. I believe we can do it in five years.”
Still, a $60 million deficit is pretty brutal for the league, and the sports world had plenty to say about it on social media.
SI just baiting the casuals here
Real football fans are excited to have another favorite team. More stars to watch. More games to bet. Eventually another video game to play.
The XFL didn’t lose 60m. They commited a 60m investment to the game we love. https://t.co/SYxYN7PYUX
— Matty Fresh (@MattyFreshTV) June 11, 2023
NFL can subsidize until they can return a profit, which is normal for a starter to lose in first 3 years. If handled properly NFL will finally have a true Developmental League https://t.co/1LnLy6vOKB
— Yinka Ayinde (@Saxyprince) June 12, 2023
Rock being outed as very fake, unlikeable, manipulative and someone who doesnt acknowledge the Tribal Chief has killed his brand this last year hasnt it? https://t.co/O8EVKgnnp6
— IANdrew Dice Clay (@IANdrewDiceClay) June 10, 2023
as I've said before, spring football is good because it costs rich people tons of money chasing a mirage https://t.co/JB6jAPSEvD
— Katie (@KatesOfHeaven) June 11, 2023
Back Adam debacle
Young Rock canceled
XFL in the red
The Rock is having a rough year lol https://t.co/n4afRuxZbF— "Tired Doc" Chris Mueller (@BR_Doctor) June 10, 2023
The last few months for the Rock……not ideal. https://t.co/pKgBuuwHht
— Brandon 🗽 (@GPHatesThisApp) June 10, 2023
It will certainly be interesting to see how the XFL grows in the future and whether or not it will be able to turn a profit in the long run.
[Forbes]
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