USFL

The groundwork for the USFL was originally laid in the summer of 2020, after plans to purchase the XFL, a league that Fox had carried during the winter 2020 season, out of bankruptcy were abandoned. RedBird Capital Partners, which would have financed the purchase, instead brought on Dany Garcia and Dwayne Johnson as partners to purchase that league. In October 2020, Fox struck an agreement with The Spring League to partially finance and broadcast that league's games.

On June 3, 2021, it was announced that the United States Football League "would be making a return" and would begin its inaugural season in April 2022. Fox was also announced as a minority owner in the league. This was the fifth attempt to launch a league using USFL naming, including prior attempts in 1945, a league proposed in the 1960s by eventual 1980s USFL founder David Dixon,^[] the aforementioned league that existed between 1983 and 1985, and in 2010.

On October 12, 2021, Tad Snider, the executive director of the Birmingham-Jefferson Civic Center Authority, announced that the league was in serious discussions with the board of directors of the BJCC about the possibility of the USFL playing all of its games in Birmingham, Alabama. According to initial information, USFL players/staff would be housed in Birmingham during the season for an estimated economic impact of about $15 million (47,000 hotel nights), while the league would play the bubble season at Protective Stadium and Legion Field. The "bubble" setup may possibly continue in the league's second year, with as many as four teams playing in Birmingham and as many as four in their respective cities. The teams would then be expected to play in their own cities by Season 3.

The proposal included an eight-team 10-week season with two additional playoff rounds, from April 16 through July 3, 2022, with the broadcast proposal as follows: 25% each on Fox, NBC, FS1 and USA. Later on December 15, 2021, Fox and NBC had finalized their agreement. NBC announced that it would air nine games on NBC itself, eight on USA, and four on its streaming service Peacock.

On November 17, 2021, it was announced that The Spring League founder Brian Woods would serve as the league's president, as well as Daryl Johnston as EVP of football operations, Mike Pereira as head of officiating, and Edward Hartman as EVP of business operations.

On January 4, 2022, NBC Sports reported that a "player selection meeting" would be held on February 22 and 23 to set teams. Training camp was to begin on March 21.

On January 6, 2022, four of eight teams unveiled their head coaches and general managers on The Herd with Colin Cowherd,

• Former San Diego Chargers head coach Mike Riley was named head coach and general manager of the New Jersey Generals.
• Former Kansas City Chiefs head coach and Pittsburgh Steelers offensive coordinator Todd Haley was named head coach and general manager of the Tampa Bay Bandits.
• Former University of Houston, Texas A&M University, and University of Arizona head coach Kevin Sumlin was named head coach and general manager of the Houston Gamblers.
• Former Toronto Argonauts head coach Bart Andrus was named head coach and general manager of the Philadelphia Stars.

Two weeks later on January 20, 2022, two more head coaches were announced.

• Former Louisiana Tech head coach Skip Holtz was named head coach and general manager of the Birmingham Stallions.
• Former Pittsburgh Steelers running backs coach Kirby Wilson was named head coach and general manager of the Pittsburgh Maulers.

The final two head coaches were announced the following week on January 27, 2022.

• Former Houston Oilers/Tennessee Titans and St. Louis/Los Angeles Rams Head Coach Jeff Fisher was named head coach and general manager of the Michigan Panthers.
• Former University of Southern Mississippi and University of North Carolina Head Coach and Baylor University Offensive Coordinator/QB Coach Larry Fedora was named head coach and general manager of the New Orleans Breakers.

On January 25, 2022, the city of Birmingham announced that the league headquarters would be in Birmingham, and all games of the 2022 USFL season would be played at Protective Stadium and Legion Field.

The first game was played on April 16, 2022, between the Birmingham Stallions and the New Jersey Generals at Protective Stadium. The game was broadcast by Fox and NBC, the first football game simulcast on over-the-air broadcast networks since the final week of the 2007 NFL regular season when a game between the New England Patriots and the New York Giants aired on CBS and NBC in addition to cable NFL Network.^[] Tickets were released to the public at $10 per person; children aged 15 and under were admitted for free.

On February 16, 2022, the league announced that the 2022 Playoffs would be held in Canton, Ohio, at Tom Benson Hall of Fame Stadium instead of Birmingham due to conflicting scheduling with the 2022 World Games. The following day, on February 17, 2022, the league revealed uniforms for each team. The day after that the league announced the draft order for the 2022 USFL draft. The Birmingham Stallions became the first new USFL champions, after winning the league championship game against the Philadelphia Stars on July 3, 2022, 33–30. Upon the conclusion of its first season, the league became the first high-level spring football league to complete a season since the original iteration of the XFL in 2001, following the early shutdown of the AAF and COVID-19-induced hiatus of the second XFL in 2019 and 2020, respectively.

On June 27, 2022, Fox Sports confirmed to Sports Business Journal that the USFL would return for another season in 2023. There would be no expansion that year, and the league would continue to use a hub model, with "two to four" locations housing all eight teams. In October 13, the league signed an exclusive partnership agreement with HUB Football, which ended in June 2023, when HUB's owner Don Yee decided to pull the plug on the operation.

On November 15, 2022, the USFL and the City of Memphis, Tennessee announced that the Tampa Bay Bandits organization would effectively be relocated to Memphis as the Memphis Showboats, taking on the name and identity of the team from the original incarnation of the league. The team will play all of its home games at Simmons Bank Liberty Stadium, which will also serve as another "hub" site for the league to host multiple teams at in addition to Birmingham.

Johnston expressed disappointment for the viewership results of the 2023 season, acknowledging fan interest in Birmingham had diminished compared to 2022 and expressing anger that the league's television ratings were comparable to the XFL's and not the "far superior... not even close" results he had anticipated. In an interview later in the offseason, Johnston indicated that he believed the league was on track to surpass college football as a "better alternative."

On June 27, 2023, President of Football Operations Daryl Johnston confirmed in an interview that the league will return for the 2024 season. Discussions between USFL and XFL for a potential merger began in July. On September 19, 2023, Axios reported that discussions had advanced far enough that a merger was possible before each league's 2024 season. On September 28, 2023, the USFL and XFL announced their intent to merge. The merger would require regulatory approval, which was granted November 30. The merger was formally announced December 31.