XFL AND USFL ANNOUNCE INTENT TO MERGE

NEW YORK - September 28, 2023 - Today, the United States Football League ("USFL") and the XFL announced their intention to merge.

Subject to customary regulatory approvals and if the transaction is consummated, the new league will establish best-in-class operations based on the most recent seasons of both leagues. 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.

More details regarding the new league will be announced at a later date.

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About the United States Football League (USFL):

Fast, physical, and fun, the USFL is a fan-first, stand-alone professional spring football league. Run by experienced football leaders, the USFL kicked-off season 2 on April 15, 2023, becoming the first nationally televised spring league in 38 years to begin a second season. FOX Sports and NBC Sports are official media partners, presenting all 43 regular- and postseason games for the eight-team league that plays in Canton, Ohio, Birmingham, Ala., Memphis, Tenn, and Detroit. Former NFL Dallas Cowboys player and current FOX NFL analyst Daryl Johnston is President of Football Operations. Former NFL Vice President of Officiating and current FOX NFL analyst Mike Pereira is Head of Officiating. "United By Football," USFL fans can find scheduling and ticketing information at theUSFL.com and follow on Twitter, Facebook, Instagram, YouTube, and TikTok.

About the XFL:

The XFL is a fan-first, fast-paced global professional football league with innovative rules and an enhanced 360-degree game experience. Anchored in world-class football, the XFL brings entertainment and innovation to advance the sport, expand player opportunities, and change the way that fans experience the game. The XFL has eight teams in Arlington (TX), Houston (TX), Las Vegas (NV), Orlando (FL), San Antonio (TX), Seattle (WA), St. Louis (MO), and Washington D.C. The XFL is owned by Dany Garcia, Dwayne Johnson, and Gerry Cardinale's RedBird Capital Partners and launched in February 2023.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains "forward-looking statements" that are based on USFL and XFL management's current expectations and beliefs and subject to uncertainty and changes in circumstances. The transaction is subject to execution of definitive documentation and satisfaction of customary closing conditions.