XFL

[wolves82]

Another in a line of big ego rich guys who take on the NFL and NCAA football, and fail miserably. The list includes the POTUS as you may recall. Huge surprise that they failed. COVID just shortened their misery, ratings plummeted week by week.

 

[clarkgriswold]

Another in a line of big ego rich guys who take on the NFL and NCAA football, and fail miserably. The list includes the POTUS as you may recall. Huge surprise that they failed. COVID just shortened their misery, ratings plummeted week by week.

Shame is that the USFL actually had some viable teams in cities that supported it, but the Donald saw a frontal attack on the NFL as the approach and some of the others for some reason bought in.

 

[Mr. Slippery]

He's certainly made some bad decisions on the wrestling side over the years, but he's always put butts in the seats and made money. He was essentially able to create a US monopoly on wrestling. It will be interesting to see what inroads AEW can make.

AEW is backed by the Khans (owners of the Jacksonville Jaguars), but I don't think they'll penetrate WWE's market too much. They have their hands full competing against NXT which is basically WWE's AAA affiliate. They'll maintain a niche audience who will watch it because it's not WWE, but they're not doing much to grow their audience and bring back people who used to watch pro wrestling.

 

[clarkgriswold]

Heard that the XFL filed for bankruptcy today.

 

[Tom.OH]

And when Vince restarted the xfl he said it was funded for 3 years...

 

[wolves82]

Bankruptcy just allows XFL to avoid paying debts. McMahon may be a jerk, but he's no dummy. Undoubtedly put just enough personal money into the XFL corporation to keep it afloat, and was banking on gate revenue and TV to fund year 1, and then put more personal money in for year 2/3.

Business 101 playbook. Separate personal funds and corporate funds as much as possible. Corporation is successful, hooray, pay owner dividends. Corporation tanks, when corporate funds are gone, declare bankruptcy and protect personal money.

 

[thavoice]

Bankruptcy just allows XFL to avoid paying debts. McMahon may be a jerk, but he's no dummy. Undoubtedly put just enough personal money into the XFL corporation to keep it afloat, and was banking on gate revenue and TV to fund year 1, and then put more personal money in for year 2/3.

Business 101 playbook. Separate personal funds and corporate funds as much as possible. Corporation is successful, hooray, pay owner dividends. Corporation tanks, when corporate funds are gone, declare bankruptcy and protect personal money.

100% legit.
Ive seen too many people left with nothing when they didnt keep personal and business separate.
Early on it is almost inevitable, but once you are established you need to keep them separate. if the biz starts to fail dont compound it with taking your personal savings.