Bidding for souvenir jerseys starts in 3..2..1...
Posted on 04/14/2020 4:32:02 PM PDT by hoagy62
The XFL's parent company filed for Chapter 11 bankruptcy Monday, the first business day after the league suspended operations and laid off almost all of its employees.
The filing, officially made by Alpha Entertainment, listed the XFL with assets and liabilities each in the range of $10 million to $50 million. The largest creditor was listed as the St. Louis Sports Commission at $1.6 million. Seven of the league's eight coaches also are among the top creditors.
In a statement, the XFL attributed its decision to the coronavirus pandemic:
"The XFL quickly captured the hearts and imaginations of millions of people who love football. Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis. Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football."
(Excerpt) Read more at espn.com ...
I cannot and will not support the NFL until they adopt a 'pro-America' policy: ALL players WILL stand for the Anthem, any who do not are instantly and permanently fired and eternally banned from ever playing in the NFL again. All thugs who are arrested for any reason other than 'minor infractions' are also eternally banned.
Other than a complete adoption of those policies, and a lowering for ticket prices to allow people who aren't rich to actually attend games, the NFL is dead to me, as as is professional football
Hey Impy,
These guys imploded quicker than even I expected.
Not unexpected.
It's Chapter 11, which means they're simply trying to keep their creditors at bay while they work things out. It may not be the end.
It’s the end, Jim.
This is a real shame because the league was doing fairly well until the virus.
https://athlonsports.com/xfl/five-reasons-why-xfl-will-succeed-2020
Now known as the Ex-FL
And now we know one of the many, many goals and agendas of the shutdown of our great country.
Chapter 11 is a reorg not liquidation.
Though if enough people get stiffed they’d have a pretty tough time getting stadiums and coaches again.
It looks like the average creditor will get 20 cents on the dollar—at most.
They has gotta hurt...
Bidding for souvenir jerseys starts in 3..2..1...
I hope you are right, I was really enjoying the league.
That’s a shame - the XFL has some good ideas and the games were fun. Hopefully McMahon will give it another shot once things recover and get somewhere close to normal again.
I will forever cherish the time I had the privilege of performing Halftime at a Birmingham Stallions USFL game.
Rod was smart...........
Talk about bad timing.
What a shame.
And not the Seinfeld kind.
Well...that sucks.
And, I, too, will never again patronize the NFL until they adopt that same ‘pro-America’ policy.
Hope the XFL can make a comeback. I enjoyed the games I watched, and like most of the rules differences from the NFL.
I know a young guy who works as assistant coach for one of the teams. He decided to pack up and move across the country (which also caused a break-up with his girlfriend) to take the job, as it was a big step-up in job experience. We both figured it should be at least be a two-year job, as he expected the owners to treat first season as a market test, and then 2nd year to decide to continue or pull the plug.
Didn’t even last 6 months….
Though the Tampa Bay uniforms were painful to look at.
That’s a shame but a small silver lining is at least he has professional coaching experience on his resume now when seeking other jobs.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.