A WWE spokesperson, in a statement to Deadspin, said, "Vince McMahon has established and is personally funding a separate entity from WWE, Alpha Entertainment, to explore investment opportunities across the sports and entertainment landscapes, including professional football".
As a result, World Wrestling Entertainment's stock price dropped $2.32, or 7.3 percent, to $29.55 after the company disclosed that McMahon sold 3.3 million shares. However, the eight-team league lasted just one season in 2001.
McMahon said that the XFL will place teams "where fans want us to go" and added that league was "nowhere near" selecting any of the cities what will be home to franchises. There will be no crossover branding with WWE talent, as was the case with the original XFL. The league isn't scheduled to open play until 2020.
Given the massive controversy surrounding the NFL and players taking a knee during the National Anthem this season, there has been a tremendous amount of speculation that the return of the XFL might cater to the more right-wing fan.
McMahon attempted a similar feat in 2001, when he launched the ill-fated XFL.
McMahon said players in his league will not be given the forum to take a personal stance while on the playing field. "I got ya. May be I do have 1 more comeback left me". However, quality play will be needed to maintain interest as the project moves forward.
Like other leagues that have attempted to create an alternative to the NFL, the XFL struggled.
- Vince praised the ESPN XFL special but said he has been discussing bringing the XFL back for years.
He's has been highly critical of the NFL, particularly with his public admonishments of players who kneel during the National Anthem to protest social justice issues. "We want really good football". The use of the SkyCam eventually took hold in the NFL, and this season the league used it as the primary camera angle for a couple games.
The XFL also featured nicknames rather than surnames on the back of player jerseys, the most infamous being "He Hate Me", worn by Las Vegas Outlaws (and future Carolina Panthers) running back Rod Smart.