WWE Has Been Paid $1.47 Million By XFL Through 2018

– Thus far, WWE has been paid about $1.47 million for services rendered to Vince McMahon’s XFL revival. Wrestling Inc reports that in a recent SEC filing, WWE noted that it has been paid by XFL for a combination of intellectual property rights and administrative support, with an additional $826,000 billed that has not yet been paid out.

As the site notes, in the SEC filing it is stated that “As previously announced, Vincent McMahon organized and owns a majority of Alpha Entertainment, LLC (“Alpha”), which owns and operates the professional football league XFL. Under arrangements made at the time of its organization, WWE received, among other things, an equity interest in Alpha without payment by, or other financial obligation on the part of, WWE; WWE sold certain intellectual property rights relating to XFL to Alpha for a payment in the amount of $1 million; and WWE entered into a support services agreement under which WWE provides Alpha certain administrative support services on a cost-plus margin basis. During the year ended December 31, 2018, Alpha was billed approximately $1,305,000 for services under the administrative support services agreement, of which $474,000 was due at year end and subsequently paid.”

WWE and XFL are separate entities as the filing notes, as opposed to the original XFL which was co-owned by WWE and NBC. Vince McMahon established Alpha Entertainment before announcing the new XFL in order to maintain separation between the two brands. Among those services appears to be a job posting on WWE’s corporate website for an XFL senior director of analytics.

The XFL is set to launch in 2020.