XFL Mar 5, 2023; Arlington, TX, USA; The XFL logo on the goal post during a game between the Arlington Renegades and the Orlando Guardians during the second half at Choctaw Stadium. Mandatory Credit: Raymond Carlin III-USA TODAY Sports

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.

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.