No one is disputing Mike's reporting.
You are saying that XFL ownership isn't investing any more money -- that they expect all new money to come in the form of revenue (TV contract + ticket sales).
That article is saying XFL ownership isn't investing any more money in UNTIL the TV contract is in place.
Those are different.
XFL - One year after kick off... and waiting
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Re: XFL - One year after kick off... and waiting
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Re: XFL - One year after kick off... and waiting
Read between the lines Tank... hell read the line.... Mike says RedBird wants a Lucrative contract. That's pretty clear, and Mike made a point to say it. I'm not trying to be a d##k here but the insider Mike Mitchell is being candid and straight forward.Tank55 wrote: ↑Fri Feb 12, 2021 8:03 pm No one is disputing Mike's reporting.
You are saying that XFL ownership isn't investing any more money -- that they expect all new money to come in the form of revenue (TV contract + ticket sales).
That article is saying XFL ownership isn't investing any more money in UNTIL the TV contract is in place.
Those are different.
We can expect that XFL 3.0 is looking for a large $ contract before moving forward.
I hope they get one or decide to move on and sell to VM.
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Re: XFL - One year after kick off... and waiting
quite a stretch to say lucrative = fund the whole league. 10 million a year is lucrative for a league just getting off the ground. lol4th&long wrote: ↑Fri Feb 12, 2021 6:09 pmHmmm reread ...Rangersking669 wrote: ↑Fri Feb 12, 2021 1:27 amWhat that article is saying is that RedBird won't fund the league until they accomplish the paid TV deal. NOT that they expect the deal to fund the whole league. Cmon now.4th&long wrote: ↑Fri Feb 12, 2021 12:41 am
GregP,
Here's one place I read it, though it doesn't say "none of their own money" it certainly implies that the lion's share at minimum will need to come from league TV contract (and gate too).
https://xflnewshub.com/columns/xfl-the- ... 22-season/
>> The consensus from sources I was in contact with was that RedBird Capital would not put one more dollar into the XFL until they secured a lucrative media rights deal.
~
The truth is that RedBird Capital is a big factor in the movement and execution of the XFL, and ultimately, a deciding factor in how the league does business.
Here is a telling quote from Dany Garcia in the interview.
~
“Going forward, having media rights deals where there are no fees, that’s not the option that we are looking at, and in fact, we’re in robust conversations with numerous partners.”
Before the XFL made it official that they would be returning in 2022, Dwayne Johnson, one of the league’s co-owners, went on social media and pointed out how they were “looking for the right partners” to fully execute the league’s vision. A hint that XFL 3.0 had not found them yet and that it wouldn’t be an easy process. <<
The timing of their announcement to delay to 2022 and Fox Sports deal with TSL seemed to me that XFL did not get from FS what they needed for 2021 and hence was the real reason to delay until 2022.
Mike M seems to get legit info on the league so I'll go with that and Dany's quotes along the way. Redbird wants outside sources to fund the leagues costs while retaining ownership... at least that's the position through today.
Look I hope they get one (of course!) or close enough to move forward.... however I do think that the XFL's best chance lied with VM and VM repurchasing the league. If this group doesn't make moves by end of March I hope they approach VM about selling to him... IF he is willing to revive in 2022. Or another group that is willing.
4th
>> The consensus from sources I was in contact with was that RedBird Capital would not put one more dollar into the XFL until they secured a lucrative media rights deal. <<
its got to be LUCRATIVE .... not my words... Mike Mitchell's -
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Re: XFL - One year after kick off... and waiting
Agreed, that's what Mike reported and I have full confidence in his reporting. No one in this thread has said anything that runs contrary to that statement.
This is where we start running into trouble. Like you say, Mike was very straightforward.
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Re: XFL - One year after kick off... and waiting
$10 million is not "lucrative"Rangersking669 wrote: ↑Sat Feb 13, 2021 1:24 amquite a stretch to say lucrative = fund the whole league. 10 million a year is lucrative for a league just getting off the ground. lol4th&long wrote: ↑Fri Feb 12, 2021 6:09 pmHmmm reread ...Rangersking669 wrote: ↑Fri Feb 12, 2021 1:27 am
What that article is saying is that RedBird won't fund the league until they accomplish the paid TV deal. NOT that they expect the deal to fund the whole league. Cmon now.
>> The consensus from sources I was in contact with was that RedBird Capital would not put one more dollar into the XFL until they secured a lucrative media rights deal. <<
its got to be LUCRATIVE .... not my words... Mike Mitchell's -
Lucrative
[ loo-kruh-tiv ]
See synonyms for lucrative on Thesaurus.com
adjective
profitable; moneymaking; remunerative:
https://www.dictionary.com/browse/lucrative
XFL 3.0 is looking for a BIG money making contract or damn near close. That's what Lucrative means. Like I said I'm not trying to be a d##k here. All I'm saying is if XFL 3.0 isn't going to move forward under current ownership then move on ASAP and sell to VM. If he'll even do it now. He just earned a $1B from NBC streaming for WWE.
For all we know Fox offered some money for a 2021 season and it wasn't enough so they just signed up with TSL (and I do believe these league can be mutually exclusive).
I do think the league can operate at a lower cost level... ie player salaries, smaller rosters, no big $ commissioner. Even less teams and shorter season. At least to start off.
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Re: XFL - One year after kick off... and waiting
We don't think you're being a dick; we think you're being dense.
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Re: XFL - One year after kick off... and waiting
For the sake of posterity, so that we can come back and see whether your reading between the lines was on point or not: at least how much net revenue (that is, taking the cost of production into account) on an annual basis do you think the television contract will need to be for the XFL ownership group to move forward with the 2022 season?
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Re: XFL - One year after kick off... and waiting
Keep in mind as private group we may never know the exact amount.Tank55 wrote: ↑Sat Feb 13, 2021 10:55 amFor the sake of posterity, so that we can come back and see whether your reading between the lines was on point or not: at least how much net revenue (that is, taking the cost of production into account) on an annual basis do you think the television contract will need to be for the XFL ownership group to move forward with the 2022 season?
Having said that and assuming same number of games and same teams and locations:
1) it will depend on new cost structure and possibly re-startup costs - lets assume $15mm a team or $120mm
2) Assuming 250-500k revenue at each game for gate etc...
3) Likely will need a $80-100mm media deal annually - keep in mind that's based on #1 above.
Should they reduce the # games, teams, player cost, league cost etc... that would lower the $$$ required.
They could also get a smaller Media $$ deal and use that to attract an equity interest to raise the necessary capital to close the gap. But again thats cart before horse.
Here is the issue - VM made a (pre-covid) commitment to fund the league for 3 years and OL did not or could not leverage that into a paying TV deal. so...
Will Media interest sign a deal with the XFL without a major commitment by ownership up front? Too bad Tom Dundon didn't wait till the XFL to buy a league.
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Re: XFL - One year after kick off... and waiting
Do you really think it's plausible for a second-year league, coming off a one-year hiatus, bankruptcy and change in ownership, to stand a snowball's chance in Hades of landing a nine-figure TV contract?
Based on what the NHL gets for TV money here in America, which is in the ballpark of what XFL games got for ratings, your ceiling is likely in the low eight figures. And given what we know about the league's revenue and expenses last year, that could very well be enough for now.
Let's not get greedy.
Based on what the NHL gets for TV money here in America, which is in the ballpark of what XFL games got for ratings, your ceiling is likely in the low eight figures. And given what we know about the league's revenue and expenses last year, that could very well be enough for now.
Let's not get greedy.
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Re: XFL - One year after kick off... and waiting
No I do not think they will get it. I do think that VM could have in year 3 if no virus.johnnyangryfuzzball wrote: ↑Sat Feb 13, 2021 7:02 pm Do you really think it's plausible for a second-year league, coming off a one-year hiatus, bankruptcy and change in ownership, to stand a snowball's chance in Hades of landing a nine-figure TV contract?
Based on what the NHL gets for TV money here in America, which is in the ballpark of what XFL games got for ratings, your ceiling is likely in the low eight figures. And given what we know about the league's revenue and expenses last year, that could very well be enough for now.
Let's not get greedy.
Keep in mind NHL signed that deal 10 years ago ($200mm yr) and their ratings are substantially below the XFL. Let's see what the NHL gets going forward. MLS gets $90mm a yr or so and they are brutal ratings.