With the XFL’s first season stopping at around the mid-way point, former owner Vince McMahon filed the league for bankruptcy and sold the league.
The investors who would purchase the league are Dwayne Johnson and his business partner / ex-wife Dany Garcia, along with Gerry Cardinale’s RedBird Capital for $15 million.
The XFL last year only completed five weeks of play and stopped the season amid the COVID-19 pandemic, which was the second time they stopped operations after one season or less, with the first time being of course in 2001.
Dwayne Johnson released a statement after sealing the deal on the purchase of the league, “The acquisition of the XFL with my talented partners, Dany Garcia and Gerry Cardinale, 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.”
Plans for the XFL moving forward are unknown as of right now, however.
Former commissioner Oliver Luck was fired by McMahon on April 9, responded by a lawsuit on McMahon by Luck for $23.8 million regarding wrongful termination.
The XFL had around 1.9 million television viewers per game and generated almost $20 million in gross revenues this year. The league was also projected to make $46 million at the end of the 10-game season.
In the last XFL season, the Houston Roughnecks, led by PJ Walker and Cam Phillips on the offensive side of the ball, were 5-0 before the season stopped, with the Defenders, BattleHawks, and Guardians all holding a record of 3-2.
Even with the uncertainty surrounding the situation, it will be very interesting to see what this new The Rock-owned XFL can bring to the table.