A group of investors, including actor and former WWE star, Dwayne Johnson, purchased the XFL for about $15 million.
This is according to an ESPN report citing a news release from the group issued Monday morning.
The XFL is a football league.
The XFL declared Chapter 11 bankruptcy April 13th.
Hence, it had been seeking a buyer for the past three months.
Johnson and his investors, which include his business partner, Dany Garcia, along with RedBird Capital Partners — are making plans to play next season, Garcia told ESPN.
Garcia is also Johnson’s former spouse.
“We’re planning for it.
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.”
Garcia is the first female owner of a major American sports league.
The XFL has twice shuttered after one season.
First in 2001 and again earlier this year as a result of the pandemic.
XFL promised to be an alternative football league.
This is after the AFL merged with the NFL in 1970.
XFL owner Vince McMahon heavily invested $200 million to reincarnate the league.
And he even promised to “reimagine” the game.
In a statement, Johnson said:
“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.”
Johnson played football at the University of Miami from 1990 to 1994.
“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.”