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The World Wrestling Federation announced Thursday that the XFL, co-owned by NBC, will be closed down after only one season. The league made numerous changes during the year in an effort to stop the ratings from falling. Nothing they tried worked. The brain-child of Vince McMahon, the WWFE chairman, tried to blend sport with spectacle unsuccessfully. "While we believe that it is an extraordinary accomplishment to have created a new professional football league in what amounts to less than a year's time, we feel that it is in the best interests of our shareholders and our partners to discontinue the XFL," McMahon said. The WWFE will announce the operations and related costs of discontinuance of the XFL as discontinued operations in its fourth quarter results for the period ended April 30, 2001. The company anticipates a loss of approximately $35 million. "Launching a new football league in such a short time period was a daunting and exciting challenge, but we gave it our best shot," said NBC Sports chairman Dick Ebersol. 05/10 19:10:06 ET