Los Angeles, St. Louis officially getting XFL teams in 2020

Football is back! St. Louis awarded XFL franchise

"We're really looking forward to once again establishing a very exciting, innovative form of football that quite frankly we've never seen before", McMahon said.

McMahon is investing $500 million of his own money into a business model similar to the one used by Major League Soccer when it started, with all the franchises owned and operated by the league. It was famous for personalities like Rod "He Hate Me" Smart, unapologetically brutal hits, cheerleaders in scant clothing and the combination of football with elements of pro wrestling.

So will this new XFL succeed?

Teams will play in New York (MetLife Stadium), Washington D.C. (Audi Field), Los Angeles (StubHub Center), Houston (TDECU Stadium), St. Louis (The Dome at America's Center), Seattle (Century Link Field), Dallas (Globe Life Park) and Tampa Bay (Raymond James Stadium).

The Governor of New Jersey Phil Murphy was on-hand to kick off the press conference at MetLife Stadium today.

The XFL will face competition in the spring from the Alliance of American Football, which begins play in 2019.

"The XFL is being built for fans and built to last".

McMahon mentioned social media and the technological changes since the original league.

Commissioner Oliver Luck then took over, noting that they plan to reimagine the game.

Are you ready for more football in the Pacific Northwest? Luck spoke about former players, coaches, and medical professionals about modifying the game so that it's familiar yet unique.

The announcement of the return of the XFL was made in January and is expected to launch in 2020.

"Hundreds of players are cut every year from National Football League teams", Luck said in front of press and owners. Teams in the new-look XFL will have 40 roster spots and will participate in a 10-week season. McMahon said there's a long-term financial commitment for the league and there is a clamoring for live sports entertainment events than ever before.