According to a report from Sports Business Daily, Vince McMahon rejected the AAF after they approached the XFL regarding a merger between the two football leagues in December of 2018. As many of you know, the AAF ended up going under after just eight weeks. The XFL is set to begin in 2020.
The site notes that AAF was already running out of funds before they even started their first season in February of this year, which is likely why they approached the XFL about a merger late last year. The reason for this was because former USFL player Reggie Fowler, the AAF’s main investor, did not deliver a $28 million payment to the league at the end of 2018. This led to Carolina Hurricanes owner Tom Dundon stepping up as the main investor and essentially saving the league and allowing it to go through with its first few weeks. Dundon committed $250 million to the AAF, but with losses at $10 million per week, the decision was made to scrap the league entirely.
McMahon is self-funding the XFL with money he raised by selling some of his WWE stock.