If there is one thing known very well about Vince McMahon, it is his mind for business. He isn’t the one to back down from any sort of challenge and has steered the WWE ship for years now.
Vince McMahon’s other venture, XFL, an alternative to the hugely successful NFL, has failed twice now. McMahon invested in the business more than a decade ago, but it never took off.
XFL’s widely anticipated return was put to a screeching halt due to the COVID-19 outbreak, which eventually led to the league shutting down after filing bankruptcy in early April. However, it was reported that the president of the league, Jefferey Pollock is still getting his salary from the company, in a report from The Athletic.
It was also reported that calls have been made to the venues in Seattle and St.Louis about reinstating the lease agreements for their grounds. This could be a sign that the XFL’s closure was temporary, and plans are being set into motion for an eventual return.
The Athletic reported that this could be a ‘cut-throat finance ploy’ by Vince McMahon to bring back the company, after filing for bankruptcy to ride out the COVID-19 pandemic. The bankruptcy filing eased the pressure on McMahon to pay the salaries of the employees until the pandemic ended, and he could reinstate the league once things return to normal.
The Athletic confirmed after talks with a representative for STL Battlehawks that XFL President Pollock had recently enquired about the lease for the home stadium.
Dave Meltzer discussed, Vince is using a loophole to buy back XFL from bankruptcy, which will help the WWE Chairman to keep XFL without involving WWE.
Meltzer mentioned that his ploy is straight out of Donald Trump’s playbook, and Vince is employing this strategy to walk out with less financial losses. However, Meltzer talked about Vince’s name being in mud in the football business, and it will be hard for him to gain trust in the industry.