McMahon began funding the XFL by selling approximately $100M in WWE stockGETTY IMAGES
XFL Founder Vince McMahon "expects to spend" close to $500M in the league's first three seasons, according to Darren Rovell of ESPN.com. McMahon "began funding the league by selling" approximately $100M in WWE stock and "putting it into his wholly owned subsidiary Alpha Entertainment." XFL Commissioner & CEO Oliver Luck, who begins in his role today, said, "People were focused on the $100 million, but the truth is that doesn't even get us to the 20-yard line." Luck said that the "biggest cost" for the league scheduled to reboot in February '20 will be the "salaries to pay players and coaches." He added that the "average salary for the 40-man rosters will hover around $75,000." Another "significant cost is insurance to cover player injuries." Luck: "I've been at all levels of football, and the importance of a broad-based insurance program cannot be understated." He added, "There are very few participants who underwrite for this market anymore and it is obviously costly." Rovell noted Luck "didn't say how much coverage the league will have but did say that the insurance premiums will come" to more than $10M a year (ESPN.com, 6/29).
