WWE Chairman Vince McMahon stated that he would spend $100 million on the league but that nothing close to what he will end up spending.
Vince introduced XFL commissioner Oliver Luck, who said the XFL wants to complement fall football and reimagine the game. The team's name was not announced. Louis, Seattle and Washington also will field teams.
The Gateway to the West, St. Louis represents opportunity, promise, and a legacy of great football.
"The XFL will offer fast-paced games with fewer play stoppages and simpler rules", the league said in a news release. He said research indicates fans want more football, and they want to give it to them.
Luck said they want the XFL to be affordable for families and they are working on lower ticket prices.
Here's where the other XFL teams will play: Dallas - Globe Life Park; Houston - TDECU Stadium; Los Angeles - StubHub Center; New York - MetLife Stadium; Seattle - CenturyLink Field; Tampa Bay - Raymond James Stadium; and Washington, D.C. - Audi Field.
The XFL will play its games during the NFL's offseason and will "complement", not directly compete with the National Football League, he added.
Beyond the presser, the XFL posted a video with a list of the cities to its official Twitter account. It will host the Super Bowl again in 2021.
As CBS Sports first reported in January, the controversial professional league, which originated as a joint venture between WWE and NBC, is set for a 2020 reboot, complete with eight league-owned franchises.
McMahon's league played one season in 2001 and then was disbanded. Each team will have a 45-man active roster and the league will play a 10-week regular season.