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From their website, it sounds like the reconstituted USFL plans to pitch itself to the NFL as being a new minor league for developmental purposes (they state they want to be like what AAA baseball is the MLB).
Thats all fine and dandy. It may also be very helpful to the NFL. (How nice would it make quarterback development to be able to get young QB's game time without destroying your NFL teams season breaking him in as an known?).
However, this has to be hard to pull off. Minor League baseball is greatly helped because it is being financed primarily by the major league teams. The players are under contract and paid by the parent club. Other things as well (Baseballs for example). The actual overhead to the minor league owners is very limited, making it profitable.
Since USFL as a developmental league is not likely to be able to have the ticket prices, TV contracts, etc, of the NFL, they are going to have the biggest challenge in making it fiscally viable. They do want to have all players under contract to the league (instead of individual teams). I suspect they will want fees or income from the NFL for player development too.
Interesting, but time will tell if it has legs.
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