Hey, Remember the XFL? You don’t? Well, don’t worry about it, because most people don’t remember it. Vince McMahon Created the XFL and it lasted one season. After all the promotion and junk, it was a huge failure.
Here is a very good definition. From http://www.urbandictionary.com
N.) X-Treme Football League. A crappy football league created by Vince Mcmahon and launched in Feburary 2001. It started out very strong, but it's ratings literally cut in half every week and by the end of it's season, in April 2001, approximately 549 on the Planet were still watching. Vince McMahon also lost about $72 million with the XFL as well. The XFL nowadays causes massive amounts of laughter just by mentioning it. (He Hate Me!)
Here is the official website of the XFL
Here is a site telling the history of the XFL
Comment: This site is kind of one sided on the subject, blaming negative media attention.