Gerry Cardinale

XFL Confident In Long-Term Financial Future

The XFL has its immediate future in place with plans to hold a 2024 season. Beyond that, many questions remain regarding the viability of the spring league’s third iteration, though its ownership remains confident it will soon be on sold financial footing.

The 2023 campaign marked the first of the XFL’s latest format, one made possible by the ownership tandem of Dwayne Johnson and Dany Garcia. The pair purchased the league, one which had one-off seasons in 2001 and 2020, with the intent of establishing a long-term professional alternative to the NFL for players along with a partnership regarding rules testing. After the past season, more than two dozen XFL players have landed contracts in the NFL, illustrating the potential the former has as an effective pathway.

However, finances could represent an obstacle to long-term stability. Forbes’ Jabari Young reports that the XFL lost roughly $60MM in 2023, a figure which likely helps explains recent layoffs and cannot be repeated over consecutive years if the league aims to remain in place for the foreseeable future. However, its owners have struck an optimistic tone on that front and signs are pointing to a reversal of those losses.

The XFL is projecting $100MM in revenue for next season, Young notes. Part of the reason for that estimate is the continued partnership with ESPN as a broadcaster, along with other financial commitments made for the league’s first four years of operation. The addition of new corporate sponsors for next season should also help put the league in the black. Garcia said the XFL is “extremely well-capitalized for the long-term.”

Gerry Cardinale, owner of XFL co-owner RedBird Capital, has echoed Garcia’s confidence in the league’s ability to firmly establish itself as a permanent fixture on the spring football calendar. No American league has been able to do that over an extended period, but if Cardinale’s estimate of the XFL becoming cash-flow positive by 2027 holds true, it may indeed accomplish that goal. Much remains to be seen regarding the league’s short- and long-term future, but a path to financial stability appears to be in place.