It looked like the XFL was dead and gone, but The Rock is here to save the day.
This morning, the WWE legend teamed up with RedBird Capital and his business parter/ex-wife Dany Garcia to buy the league out of bankruptcy for $15 million just one hour before it was set to hit the auction block. The deal will head to bankruptcy court for approval on Friday and could be closed on by August 21. The XFL filed for Chapter 11 protection back in April, listing $10-$50 million in debts.
“This is a Hollywood ending to our sale process and a start of fantastic new beginning for the XFL with the best possible ownership group going forward,” XFL President Jeffrey Pollack said.
“The acquisition of the XFL with my talented partners, Dany Garcia and (RedBird Capital Founder & Managing Partner) 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,” Johnson said in a 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.”
With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL.
With gratitude & passion I’ve built a career with my own two hands and will apply these callouses to our @xfl2020 brand.
Excited to create something special for the fans! #XFL #fullcircle pic.twitter.com/LprJ6HjglD
— Dwayne Johnson (@TheRock) August 3, 2020
Before shutting down in March due to COVID-19, the XFL was actually doing well, bringing in solid ratings through its partnership with Fox. RedBird Capital recently bought French soccer team Toulouse and has investments in the New York Yankees’ YES regional sports network and NFL properties. Add in The Rock, who is a star in just about every medium right now, and the future looks promising. If Ballers was still on, this really would be life imitating art.