On a recent episode of ESPN's 30 for 30, there was a feature on the XFL - Vince McMahon's former football league that quickly plummeted down the ratings hole.
After being asked by Dick Ebersol if he would ever go back to something like that again, Vince said he would be interested in bringing back something like the XFL but probably tying it in with the NFL rather than acting as commpetition.
There may be an announcement regarding this possible revival on January 25th of next year but that is not official. However, WWE did recently sign off on two trademarks regarding the XFL long after the ESPN special aired.
The special also said that the biggest downfall to the league wasn't the presentation but rather that the players only had about thirty days to train as a team and the games themselves were low quality.