An investor group led by Dwayne “The Rock” Johnson and Dany Garcia agreed to purchase the XFL for $15 million on Monday.
What We Know:
- The XFL was previously owned by WWE chairman Vince McMahon. McMahon originally founded the XFL in 2001, intending for it to be a competitor to the NFL. The league relied on increased intensity and violence, similar to that of professional wrestling, to draw viewers.
- The league folded after its first season. McMahon relaunched the league in February of 2020, planning on playing a ten-game season. The XFL opened to impressive viewership but ended its season after five weeks due to the pandemic and McMahon filed for Chapter 11 bankruptcy in April.
- Johnson and Garcia purchased the league with plans to play next season. According to Garcia, the league is looking to follow the bubble model of the NBA and WNBA. “We are a league, because of the number of teams we have, that actually can create a bubble environment. Those discussions are active,” she said.
- Garcia, who is also Johnson’s ex-wife, is the first female owner of a major American sports league. She is a longtime business partner of Johnson and a successful businesswoman, mainly producing his blockbuster films and overseeing entertainment and sports brands.
- Johnson gave a statement about the purchase: “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.” Like McMahon, Johnson has experience in football and wrestling. He played football at the University of Miami and wrestled for the World Wrestling Federation.
The sale is still pending and must be approved by a bankruptcy judge on Friday. The court’s committee of unsecured creditors has already filed an objection to the sale.
