Vince McMahon Expecting to Spend Close to $500 Million to Launch the XFL

– Vince McMahon isn’t lowballing his efforts to launch the XFL. ESPN reports McMahon expects to spend nearly $500 million dollars for the first three seasons, according to what he has told people close to him.

The site spoke with XFL CEO and commissioner Oliver Luck, who said that the initial $100 million in WWE stock that McMahon sold to begin the launch was just a start. “People were focused on the $100 million, but the truth is that doesn’t even get us to the 20-yard line,” Luck said. He joined the league in his roles earlier this month and begins the job on Monday from WWE Headquarters.

Luck told the site that the biggest cost will be player and coach salaries, citing the average salary on the forty-man rosters landing around $75,000. Of course, big-name players will earn well above that mark. Another big costs will be insurance, with Luck saying, “I’ve been at all levels of football, and the importance of a broad-based insurance program cannot be understated…There are very few participants who underwrite for this market anymore and it is obviously costly.” He said insurance premiums will run over $10 million per year.

The league is scheduled to launch in February of 2020.