Vince McMahon is Going to Waste $500 Million on the XFL
06/29/2018
We've been sitting here reading the reports that WWE Chairman Vince McMahon expects to spend $500 million of his own money in the first three years the XFL reboot, and a few thoughts come to mind:
The immediate reaction is that the man is out of his mind. McMahon's non-wrestling ventures (from promoting Evel Knievel, to a bodybuilding league, to a movie studio, to say, the first XFL) have never done well, and there's no reason to think this will be any different. There are approximately 500 million better ways to spend the money. Giving us $1 million to buy more coffee for our office, and then setting the rest of it on fire would probably be more productive use of the cash than this NFL wanna-be. The main reason we doubt that he'll actually spend that much money in three years is that the odds are against the XFL lasting three years.
No doubt, many will say, "Hey, he's a businessman taking a risk. It doesn't get more American than that!" They're welcome to have that opinion. We'd just say it's more financially responsible as a 72-year-old man to perhaps make more conservative moves and, say, focus on establishing a more memorable non-wrestling legacy. McMahon could do a world of good if he donated the money to charity. (On second thought, maybe he should stay away from those.)
On the other hand, TV rights to live sporting events are worth an insane amount of money, as McMahon well knows, having just struck new TV deals worth more than $2 billion combined for Monday Night Raw and Smackdown Live. When you've got that kind of safety net, and that much money to play with, why not take a chance?
What really might be the most interesting part of this story is what the XFL will mean for the WWE. McMahon is a legendary and notorious control freak, and his focus on his new toy should finally give son-in-law/mostly-retired wrestler/ WWE VP of Talent Paul Levesque (aka "Triple H,") an opportunity to move the company in a new direction and start his own era (in conjunction with wife/ WWE Chief Brand Officer Stephanie McMahon.)
At the end of the day, it's obviously McMahon's money to spend, and if this is how he chooses to do so, that's his call. Who knows, maybe the XFL will prove to be an entertainment powerhouse this time, and it will be something enjoyed by generations to follow.
It still seems like a huge waste of money, though.
What could possibly go wrong? (pic via metro.co.uk)
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