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Almost exactly 19 years after his first failed attempt at creating an alternative to the NFL, today Vince McMahon's XFL filed for chapter 11 bankruptcy protection for somewhere between $10M and $50M in debt.  XFL's ratings never saw a gain after a strong debut, seeing week-on-week declines for its short life and shedding most of its audience by the final weeks.  It would never survive another year, and the coronavirus gave McMahon a great excuse to stop burning through cash on what clearly wasn't working.  It saves him from from a shareholder suit for losing untold millions on a vanity play.

McMahon apparently owns the majority of the company with the WWE holding a minority share.  Last time around, NBC and the WWF both lost $35 million.  I wonder what McMahon lost this time.  Obviously his coaches, players, the networks, and local arena owners (usually cities) that he owes millions to will get pennies on the dollar thanks to his shitty idea, execution, and management. 

https://www.latimes.com/sports/story/2020-04-13/xfl-files-for-bankruptcy-vince-mcmahon

 

 

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Its like gambling.  you are taking a chance.  no one put a gun to the head of the coaches, players, networks or arena owners to participate in his game.  

He's had a few failed ventures...  hell the XFL failed once already...  cant really imagine that it would have been great idea the second time around.

 

who knows.  maybe third times the charm...in another 20 years..

 

 

 

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7 minutes ago, Marcjsmith said:

Its like gambling.  you are taking a chance.  no one put a gun to the head of the coaches, players, networks or arena owners to participate in his game.  

He's had a few failed ventures...  hell the XFL failed once already...  cant really imagine that it would have been great idea the second time around.

 

who knows.  maybe third times the charm...in another 20 years..

 

 

 

He'll probably still be shredded and jumping off the ropes

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3 minutes ago, billy backstay said:

Another crooked, charismatic charlatan goes down.  Might be a good alternative to Trump??

i think they have the same drug dealer but trump only took the adderall.  steroids don't work if you're too lazy to work out.

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1 hour ago, Sol Rosenberg said:

No worries. Wraslin is now an essential service in FL, so the income stream is still good. 

Do they still have Seminoles wraslin gators down near the Glades??

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But wait!  All is not lost.  The lovely Linda McM quit being SBA Administrator to chair the big Trump PAC

https://www.politico.com/story/2019/03/29/linda-mcmahon-to-resign-as-head-of-small-business-administration-1243495

 

and lo and behold...

wrasslin' is an ESSENTIAL INDUSTRY in Florida! 

"essential services under the executive order includes employees in professional sports and media production with a national audience, only if the location is closed to the general public."

So Vince and Linda's WWE can proceed without f2f audiences. 

https://www.cbsnews.com/news/wwe-essential-business-in-florida-during-coroanvirus-governor-ron-desantis-says-will-resume-live-wrestling-matches/

 

Now IIRC, the lovely Larry, complete with pretty new reworked face and no giant thing on it anymore, let T use his Pork Creek place to raise over $7M.  So maybe SGP will be deemed an essential industry too and they can race in Florida, too if only they can find teams willing to do that.  Or maybe it can be like American Gladiator with amateurs trying out....it is Florida after all and gator wrestlers may be out of work.

 

 

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1 hour ago, slap said:

My impression is that these alternative football leagues were hoping to be picked up by the NFL as player development leagues. 

There is no "these" leagues. There was one new, expensive, loud effort launched just when it looked like all the Trumpies were going to abandon the NFL wholesale and need a new place to get their fix of man on man violence. It was aimed square at the NFLs nuts and aimed with iron sights made out of McMahon's ego.

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11 minutes ago, MR.CLEAN said:

There is no "these" leagues. There was one new, expensive, loud effort launched just when it looked like all the Trumpies were going to abandon the NFL wholesale and need a new place to get their fix of man on man violence. It was aimed square at the NFLs nuts and aimed with iron sights made out of McMahon's ego.

XFL was just another concussion factory which preyed on poor athletes who hoped they would make it to the "big time".  Unfortunately this just means that we will have a lot more people growing old with brain injuries and arthritic joints who were exploited by the one per-centers.

Maybe I am too cynical about pro football but I have known a number of former players and most say they don't want their kids to go through what they have or are currently going through.

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2 hours ago, MR.CLEAN said:

There is no "these" leagues. There was one new, expensive, loud effort launched just when it looked like all the Trumpies were going to abandon the NFL wholesale and need a new place to get their fix of man on man violence. It was aimed square at the NFLs nuts and aimed with iron sights made out of McMahon's ego.

Tremendous.  Bigly.  Belief me!

https://www.latimes.com/archives/la-xpm-1986-07-30-sp-18643-story.html

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9 hours ago, MR.CLEAN said:

McMahon apparently owns the majority of the company with the WWE holding a minority share.  Last time around, NBC and the WWF both lost $35 million.  I wonder what McMahon lost this time.  Obviously his coaches, players, the networks, and local arena owners (usually cities) that he owes millions to will get pennies on the dollar thanks to his shitty idea, execution, and management. 

And yet they bought into his shitty idea in the first place.  

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3 minutes ago, Desert Racer said:

And yet they bought into his shitty idea in the first place.  

They bought into not being paid? Imagine if billionaire Jim McMahon had to follow the bankruptcy rules college students do.

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2 minutes ago, MR.CLEAN said:
6 minutes ago, Desert Racer said:

And yet they bought into his shitty idea in the first place.  

They bought into not being paid? Imagine if billionaire Jim McMahon had to follow the bankruptcy rules college students do.

Don't change the subject.  You said it was a shitty idea in addition to the shity execution and management.  Obviously they bought into the original shitty idea.  The not getting paid part falls under the shitty execution and management.  

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9 minutes ago, MR.CLEAN said:
30 minutes ago, Desert Racer said:

Obviously they bought into the original shitty idea.  

No, they interviewed for a job.  Do you think an employee is an investor?

Jesus, do you even bother to read your own posts???

10 hours ago, MR.CLEAN said:

Obviously his coaches, players, the networks, and local arena owners (usually cities) that he owes millions to will get pennies on the dollar thanks to his shitty idea, execution, and management. 

The networks and local arena owners most certainly are investors in the idea or they wouldn't have sunk the money into the idea.  And to a degree, so are the coaches and the players.  They bought into the idea that this league would work when so many before it have failed.  Although I suppose most of the washed up coaches and players there probably had few other opportunities.  

Look, I'm not sayin' this guy was a saint or some genius businessman.  But his investors and employees went into this with eyes wide open, and unless McMahon committed outright fraud and/or embezzlement - then you pays your money and you takes your chances.  It didn't work out for them.  Sorry.  But someone thought it was a good idea or they wouldn't have fronted the money to build arenas and provide TV coverage.  <shrug>

Edit to add:  Shitty ideas, execution and management are nothing new.  It's why Ch 11 was invented.  Because sometimes even the best ideas, management and execution go bust.  Meh.

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18 hours ago, Desert Racer said:

Jesus, do you even bother to read your own posts???

The networks and local arena owners most certainly are investors in the idea or they wouldn't have sunk the money into the idea.  A

Wow, you really do have no idea how life works here.  How long has it been since you worked domestically for a private company?  Do you know the one thing that makes an investor an investor?

Coaches, players, networks, and arenas are not INVESTORS.  They are accounts receivable.  Vendors.  People that signed a contract that bound them to deliver something in exchange for money. They didn't "sink" any money into anything. They did the same thing they've been doing for years and years and years.

The fact that you do not even know what the word INVESTOR means makes this a little like when I read a particularly confusing bit of legalese to my 4 year old: slightly amusing but a waste of time.

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On 4/14/2020 at 5:14 AM, MR.CLEAN said:

He'll probably still be shredded and jumping off the ropes

Na, he will be the next frozen dead guy, maybe even put him in Nederland where he can be regaled yearly.  

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9 minutes ago, shaggy said:

Na, he will be the next frozen dead guy, maybe even put him in Nederland where he can be regaled yearly.  

All this time with Larry Ellison and he might be the second-ever person classified as" head-in-jar-while-they-wait-for-tech-donor-body"

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1 hour ago, MR.CLEAN said:

All this time with Larry Ellison and he might be the second-ever person classified as" head-in-jar-while-they-wait-for-tech-donor-body"

The head is ready, apparently he got tightened, filled, de-thinged, dyed and whatever as the pandemic was cooking.

Maybe Zoom will sponsor a boat for AmericanGladiator SGP.  Next thing, he's going to be tweeting 

 

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32 minutes ago, MR.CLEAN said:

recovery is about 6 weeks for that surgery

Good knowledge! So if he was all pretty for his Forbes photoshoot, he might have had it done at the end/beginning of the year right after he looked awful at his gala.  Gee, hope we didn't hurt his feelings talking about how bad he looked with that growing thing.

 

oracle-petition-larry-ellison-trump.jpg

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Good line from Twitter on restarting America's greatness without adequate testing, tracking, tracing:

"The reason billionaires want you to go back to work now is that they didn't make their money.

You did."

 

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31 minutes ago, NeedAClew said:

Good knowledge!

 

A relative just had the same surgery.  She worked from home for 2 months and was miserable for another, but now she looks great!

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On 4/15/2020 at 7:20 AM, MR.CLEAN said:

Wow, you really do have no idea how life works here.  How long has it been since you worked domestically for a private company?  Do you know the one thing that makes an investor an investor?

Coaches, players, networks, and arenas are not INVESTORS.  They are accounts receivable.  Vendors.  People that signed a contract that bound them to deliver something in exchange for money. They didn't "sink" any money into anything. They did the same thing they've been doing for years and years and years.

The fact that you do not even know what the word INVESTOR means makes this a little like when I read a particularly confusing bit of legalese to my 4 year old: slightly amusing but a waste of time.

So you're telling me that a city who spent big $$ on an arena in the hopes that the league will pay off big is not an "investor"?  Same with a network who hired a lot of additional staff and bought infrastructure/equipment to cover it?  BS.

And players, coaches, etc are not "investors" by the strict definition of the word.  But they've invested time and $$ into a promise of making it big.  You pays your money, you takes your chances.  No different than an aerospace engineer who pulls up stakes in VA. leaves a stable but average job and moves to california to work at a startup company for promise of greater income.  Its a risk and he/she is out of luck if the company folds.  Meh.  Happens everyday.  

PS - have your pedantic words games with someone else.  You know damn well what I mean by "investor" and "investment" in this context.  This is not a court of law.  

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