Report: XFL Lost $60 Million in 2023, Expects To Be Cash-Flow Positive by 2027

In a recent interview conducted by Forbes author Jabari Young, Hollywood superstar Dwayne “The Rock” Johnson, Dany Garcia and Gerry Cardinale unveiled their grand vision for the revamped XFL. The XFL Owners, who acquired the league after it went bankrupt, spoke candidly about their commitment and aspirations for the XFL.

“You don’t call Dwayne Johnson and say, ‘I have a decent idea,’” Garcia told Forbes. “It’s got to be big, important and meaningful for him.” This quote embodies the audacity and scale of their venture, emphasizing that their involvement in the XFL is not a whimsical decision but a colossal enterprise.

Johnson, reflecting on his college football career and how it abruptly ended, revealed his personal connection to the sport: “Football was my dream,” Johnson told Forbes. “The NFL was my thing. I was going to buy my parents their first house.” He further added, “Football didn’t end on my terms. I wish I’d had the XFL when I was coming out.” “It completes that circle,” Garcia affirmed. This illustrates how Johnson’s personal attachment to football has fueled his commitment to the XFL, envisioning it as a platform for aspiring athletes.

According to Forbes the XFL lost an estimated $60 million in 2023, but despite this financial hit, Dany Garcia confirmed the league’s financial stability. “We’re extremely well-capitalized for the long-term,” said Garcia, the XFL’s chair. “This is our new WWE. The next massive live property.” This statement assures fans and investors that the XFL has the financial backing to weather initial losses and is positioning itself as an ambitious and enduring sports entity.

“Next season, the league projects $100 million in revenue, said people familiar with its finances. “

Gerry Cardinale, the founder of XFL co-owner RedBird Capital, displayed unwavering optimism and set a high bar for the league’s prospects: “I’m a contrarian investor constantly looking for arbitrage,” Cardinale told Forbes. “And the arbitrage of the XFL: no one has done it right before.” He added that he expects the XFL to become cash-flow positive by 2027 and even surpass Major League Soccer to become the fifth-biggest sports league in the United States.

Johnson left no room for doubt regarding his and Garcia’s long-term commitment to the XFL. “This is not just an endeavor that’s going to fill up a portfolio and one day we flip it and we’re out,” Johnson told Forbes. “This is legacy. This is the long game.” His words underline a dedication to the XFL that goes beyond business – it’s about building a lasting legacy in the sports industry.

In summary, the interview with Johnson, Cardinale and Garcia by Forbes paints a picture of unwavering commitment and high ambitions for the XFL. Despite a significant financial loss in 2023, the league has funding for four seasons and plans to become cash-flow positive by 2027.

With Dwayne Johnson’s star power, Gerry Cardinale and Dany Garcia’s shrewd business acumen, and their shared vision, the XFL is poised to make a significant impact on the sports landscape. Readers interested in the future of sports, business ventures, or fans of Dwayne Johnson should not miss this interview for its invaluable insights into the reimagined XFL.