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There are so many reasons why these types of things fail... I think the XFL had the best shot, backed by McMahon and the WWE along with NBC (right, wasn't that the channel)?
There's just no interest... the arena leagues had a nice forumla that worked for a while. I definitely think something like this has a better shot of working if it's regionalized, areas that have no true connection to an NFL team... but they have a strong hunger and dedication to football...
But, then again, you're talking about a league that has a talent pool that excites very few...
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