In December of 2017, there were rumors that Vince McMahon was bringing back the XFL. In early January of 2018, McMahon made it official, the XFL was back. The league is not owned by the WWE or Vince himself; instead, it is entirely owned by Alpha Entertainment LLC. , and it also shares office space with WWE in Stanford Connecticut.
This new XFL set up marks a departure from the first version which was equally co-owned by NBC and the WWE. McMahon established Alpha Entertainment to separate the XFL from the WWE this time around completely.
This change doesn’t mean the two companies won’t work together and they do. I have seen it first hand at the DC press conference for Head Football Coach Pepe Hamilton. This is also evident in recent SEC filings too. In the filing, they note just how much money is exchanging between WWE and Alpha/XFL. It also detailed the arrangement between the two companies.
Alpha Entertainment, LLC.
McMahon created and owns a majority of Alpha Entertainment, LLC. This entity owns and operates the professional football league the XFL. Under the arrangement, WWE received, among other things, an equity interest in Alpha without payment. WWE sold certain intellectual property rights relating to XFL to Alpha for a payment 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 sold the property rights of the XFL to Alpha Entertainment for $1 million
- WWE billed over $1.3 million to Alpha for administrative support
- Alpha paid $474,000 to the WWE for that administrative support so far
The XFL does have its careers section on its website. But WWE also has job postings for XFL positions on its site. This relatest to the agreement between Alpha/XFL and WWE as assistant to help the new league get going.
To recap, Alpha Entertainment LLC was created to keep the XFL’s operations separate from WWE. However, the XFL is still leaning on the WWE as it grows its operations.