It looks like the XFL will try to stay alive for more than a season this time around. Vince McMahon, the owner of the spring football league, signed deals with major sports firms. As a result, the new league will get help with its business operations and ticket sales.
One of the major sports firms supporting XFL is Elevate Sports Ventures. It will help the league with ticket sales and business operations. It is part of the two-year deal McMahon signed with the company, according to a statement released to bookie news outlets.
The deal came a month after the Alliance of American Football folded up its operations. In fact, the AAF filed for bankruptcy before completing its first season. The AAF had assets of $11.4 million and liabilities of $48.4 million, according to its Chapter 7 filing.
Major Sports Firms and the XFL
Several owners of NFL, NHL, and NBA teams back Elevate Sports Ventures. They include Harris Blitzer Sports and Entertainment, Creative Artists Agency, San Francisco 49ers, Oak View Group, Ticketmaster, and Live Nation.
The goal of the deal with Elevate Sports Ventures is to develop the XFL into a sustainable football league. Part of Elevate’s strategy is to create a business and team operations group for the league office. This is like the system used by the NBA. As a result, Elevate will hire more than 75 executives in various roles, according to an interview with sportsbook pay per head insiders.
It is the second version of McMahon’s XFL. World Wrestling Entertainment backed the first one. However, it only lasted for one season in 2001. This time around, McMahon will fund the league on his own.
Elevate CEO Al Guido told price per head sportsbook experts that they are looking for ways to innovate their season ticket features. In fact, they want to make the experience more engaging to season ticket members.