Dwayne ‘The Rock’ Johnson’s XFL League Gets A ‘Smackdown,’ Suffers $60M In Losses
Dwayne “The Rock” Johnson may be one of Hollywood’s most popular leading men but his latest venture into sports by way of the XFL League is costing him major dividends. Forbes reports that the losses could total $60 million.
Johnson, along with his business partner, and ex-wife, Dany Garcia, Disney, and RedBird Capital Partners purchased the bankrupted league for $25.3 million in 2020. The former football-player-turned-wrestler felt the league needed to exist for guys like him who had the talent and skill but failed to make the leap to the NFL, according to Forbes. “Football was my dream,” Johnson said. “The NFL was my thing. I was going to buy my parents their first house. Football didn’t end on my terms. I wish I’d had the XFL when I was coming out.”
Though the XFL has already helped to make 27 players’ dreams come true by getting them to the NFL, the alternative league has lost an estimated $60 million in 2023 alone, according to Forbes.
I’ve tried to tell him his whole life but he’s never listened to me 😜
I play the long game in business and XFL is no exception. We saw some nice successes and took some L’s in our first season that we learn from.
75-100 XFL players will be competing in NFL camps this fall.… https://t.co/ByVdMnVqXb
— Dwayne Johnson (@TheRock) June 11, 2023
Still, Johnson is fully committed to riding the wave of his investment and is expecting to see big results come next year. In a tweet, the 51-year-old doubled down on his belief in the XFL. “I play the long game in business and XFL is no exception. We saw some nice successes and took some L’s in our first season that we learn from. 75-100 XFL players will be competing in NFL camps this fall,” he said. “That’s a big number that will continue to grow season over season. We’re in it for the long haul. Step by step building the league of opportunity. Like with any venture, success takes time. Thanks to XFL fans for the love & support.” And it seems like Johnson may be right. According to The Sun, the XFL is projected to bring in $100 million in 2024, including significant support from the leading sports network ESPN.