The investment group Redbird Capital and Dwayne “The Rock” Johnson are buying the XFL out of bankruptcy for $15 million, Sports Business Journal’s Ben Fischer reported Monday.
“This is a Hollywood ending to our sale process and a start of a fantastic new beginning for the XFL with the best possible ownership group going forward,” XFL President Jeffrey Pollack said of the deal.
“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,” added Johnson, a former defensive lineman at the University of Miami and WWE superstar. “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.”
The XFL season was heavily impacted by the COVID-19 pandemic, among other concerns, and the league officially suspended operations nearly four months ago. No announcement was made surrounding the announcement of the purchase regarding any future plans for league operations, or reversing the planned cancellation of the 2021 campaign.