Dwayne Johnson, Dany Garcia, and RedBird Capital Partners have acquired the XFL from Vince McMahon for $15 million.
The XFL started its first season earlier in the year but was cut short due to the coronavirus and saw the company file for bankruptcy in April.
ESPN notes the sale must be approved by a bankruptcy judge at a hearing Friday, and on Monday afternoon, the bankruptcy court’s committee of unsecured creditors filed an objection based on certain assets included in the sale, but the deal is expected to go through.
“With my trailblazing partner Dany Garcia & RedBird Capital’s Gerry Cardinale – we have acquired the XFL,” posted Johnson on Instagram. “With gratitude and passion, I’ve built a career with my own two hands and will apply these callouses to building our XFL brand to create something special for the fans. My dreams of playing professional football never came true, however – this passion venture allows me to create opportunities for other players to showcase their talents, take care of their families and make their own dreams come true. Now, my partners and I go to work – for the love of football.”
XFL plans on returning next season
Details include that plans are underway to have the XFL return next season.
“We’re planning for it,” said Garcia, which sees the article note Garcia is the first female owner of a major American sports league. “We’re doing all the steps that need to happen for the execution of that. But we’re also being mindful to what has actually been successful. It has been really interesting to see that [in sports], when you create a bubble, your players are safe. When you don’t, it’s chaos. We are a league, because of the number of teams we have, that actually can create a bubble environment. Those discussions are active.”
