The XFL looks set for a new lease of life. Just hours before the XFL was due to go up in bankruptcy auction, it was announced that The Rock along with business partners Dany Garcia and Gerry Cardinale’s RedBird Capital. The consortium purchased the XFL for $15 million. The transaction is subject to bankruptcy court approval at a hearing this Friday, August 7 and, assuming that closing conditions are satisfied, is expected to close on or shortly after August 21.
John Pollack, XFL COO, who was in charge of the sale, is quoted as saying: ”We are grateful for today’s outcome, This is a Hollywood ending to our sale process and it is an exciting new chapter for the league. Dwayne, Dany and Gerry are a dream team ownership group and the XFL is in the best possible hands going forward.”
The Rock spoke with ESPN and had the following to say: “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.”
For The Love of Football
For The Love of The Athletes
For The Love of The Fans@xfl2020 #Owner @TheRock #GerryCardinale pic.twitter.com/gNTHiJeDp8— Dany Garcia (@DanyGarciaCo) August 3, 2020
He added, “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 specials for the players, fans, and everyone involved for the love of football.”
Alpha Entertainment, the previous owners of the XFL, were founded by WWE’s CEO and Chairman of The Board, also The Rock’s former boss, Vince McMahon. Alpha Entertainment filed for bankruptcy in April due to the COVID-19 pandemic, cancelling the XFL season after 5 games. FOX had a deal to show the league on their channels and the first match of the revamped league had 3 million viewers but, by the last game, audience figures had slipped to half that.
RedBird Capital own other sports companies too, recently purchasing French soccer team Toulouse Football Club (TFC) and OneTeam Partners, which include unions of MLB and NFL players. The Rock himself experienced in the American football world as he played college football in the 90s at the University of Miami before playing in the Canadian Football League.
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
Feature image courtesy of Getty Images