Actor, former WWE star and University of Miami back, Dwayne “The Rock” Johnson announced that he and a group of investment partners have purchased the XFL for $15 million, the league confirmed in a statement.
“The acquisition of the XFL with my talented partners … is an investment for me that’s rooted deeply in two things — my passion for the game and my desire to always take care of the fans,” said Johnson in the statement. “With pride and gratitude for all that I’ve built with my own two hands, I plan to apply these callouses to the XFL, and look forward to creating something special for the players, fans, and everyone involved for the love of football.”
Last April, the already once resurrected league filed for bankruptcy, listing $10 to $50 million in debts, after it was forced to shut down mid season because of the coronavirus pandemic. But apparently the XFL will now get a third chance, thanks to Johnson, his business partner Dany Garcia, and investment firm RedBird Capital Partners, who won the bid from XFL parent company, Alpha Entertainment.
“We are grateful for today’s outcome,” said XFL president and chief operating officer Jeffrey Pollack in the statement. “This is a Hollywood ending to our sale process and it is an exciting new chapter for the league. Dwayne, Dany and (RedBird founder) Gerry (Cardinale) are a dream team ownership group and the XFL is in the best possible hands going forward.”
For now, the plan is to try to relaunch the league, which is great news for everyone who purchased Tampa Bay Vipers gear. However, given the circumstances, there’s currently no timetable to return, but the deal is expected to clear bankruptcy court later this month.
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This article appears in Jul 30 – Aug 6, 2020.
