Posted on 08/03/2020 11:35:25 AM PDT by winner3000
The XFL has been sold to a group that includes former WWE star Dwayne “The Rock’’ Johnson, giving the bankrupt football league the kind of star power that may draw even non-sports fans.
Johnson, an actor and producer who played college football at the University of Miami, teamed up with Gerry Cardinale’s RedBird Capital to buy the league just hours before a planned auction was scheduled to begin.
They paid $15 million, splitting it evenly. Johnson’s business partner, Dany Garcia, who is also his ex-wife, will be an equal stakeholder with him.
According to a court filing, this was the only qualified bid. 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.
RedBird has made a litany of sports-related investments, including some with ties to the National Football League and its players.
The presence of Johnson, meantime, continues pro wrestling’s involvement in the spring football league, which was founded—and funded—by WWE Chairman and Chief Executive Officer Vince McMahon.
“I could not imagine a better outcome for the XFL. Dany, Dwayne and Gerry are the best possible ownership group for the exciting journey ahead, said XFL President Jeffrey Pollack, who oversaw the sale process for the league. “Their collective track-record of success in entertainment, sports and media is stellar, and I think our fans, players, coaches, and partners are in for something special.”
(Excerpt) Read more at sportico.com ...
Please God let them get the length of a game back to under 3 freaking hours....
Please NO WOKENESS CRUD!
15 Mil? Peanuts to these guys.
I agree. Sounds like a very shrewd deal he made.
15 Mil? Peanuts to these guys.
Trump won the legal battle and was paid $1.
“Trump won the legal battle and was paid $1.”
Which, as an antitrust case was trebled, so really $3. lol
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