Vince McMahon, the chairman and CEO of the WWE, is making what officials with the wrestling organization are calling a "major sports announcement" Thursday at 3 p.m.
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McMahon is expected to make the announcement under the banner of his new enterprise, Alpha Entertainment, WWE officials announced on the group's website.
>> Related: WWE's Vince McMahon to give football another shot, may bring back XFL
ESPN's Darren Rovell reported that McMahon plans to announce that he will make another attempt at starting a professional football league.
Adam Silverstein, of CBSSports.com, reported that the league will be called the XFL and is not expected to start play until 2020.
This will be McMahon’s second attempt at pro football.
The original version of XFL's only season took place in 2001, when it debuted to big ratings that steadily declined.
Word of a potential return of the XFL was first reported in December.