An investor group that included actor and former WWE star Dwayne 'The Rock' Johnson has officially agreed to buy the XFL for approximately $15 million.
Hello again.. Here to inform you that @TheRock is part of a group that is to buy the XFL. https://t.co/NppkNxB4U9— XFL on FOX (@XFL on FOX)1596467550.0
On April 13th, the XFL filed for bankruptcy in hopes that a buyer would purchase it as a brand marketed towards a TV product that could become a bubble concept as early as 2021. However, investors such as Johnson's ex-wife Dany Garcia, RedBird Capital Partners and The Rock, have not officially stated when they plan on reviving the football league.
This isn't the first time the XFL has gone under; back in 2001 the league had shuttered but was reinstated by XFL owner Vince McMahon. He has invested $200 million since then and promised to reimagine the game with more hopes than actual plans. As a result of the pandemic, the XFL fell short this year, resulting in a major layoff in April.
According to ESPN, Johnson mentioned in a statement what he and his investors could bring to XFL:
"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. 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."
Even with no set plans in place, Johnson seems to be confident that his team can save the XFL as a whole. With past tribulations between McMahon and XFL commissioner Oliver Luck, tension has strained the company ever since. McMahon fired Luck back in April, resulting in Luck suing McMahon for $23.8 million under wrongful termination.
Despite the issues within the company's history, The Rock's positivity and intentions for the XFL are seemingly setting them up to be more successful than ever.