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"If the transaction is consummated, the new
league will establish best-in-class operations based on the most
recent seasons of both leagues," said the statement.
"This historic combination will anchor professional spring
football with substantial capabilities and resources to ensure
future growth and continue to enhance the development of the
collective players, coaches, and staff that are coming
together."
While the National Football League dominates the U.S. sport
scene, attempts to tap into America's love for grid iron have
failed despite the backing of major television networks.
Fox and NBC broadcast USFL games while the XFL has a deal with
Disney.
Neither the XFL or USFL or a new league pose a threat to NFL
dominance with the merged entity continuing to play a Spring
schedule.
The original XFL, which was owned by longtime WWE chairman Vince
McMahon, lasted only one season in 2001 then folded.
McMahon relaunched the league in 2020 but never finished the
season due to the COVID-19 pandemic.
Former wrestler Johnson teamed up with ex-wife and investment
company RedBird Capital Partners to buy the XFL for $15 million
in 2020, hours before the bankrupt league was set to be
auctioned.
The USFL has had an equally turbulent past.
The league first operated for three seasons from 1983 to 1985
before folding and relaunched in 2022.
(Reporting by Steve Keating in Toronto)
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