The bankrupt XFL was set to go to auction to the highest bidder in just hours when in swooped a group (RedBird Capital) to snatch it up, according to Sportico.
Former pro wrestling star turned TV mega-star, and former Miami Hurricane defensive lineman, Dwayne "The Rock" Johnson is among one of the XFL's new owners.
The price tag for the league was reportedly $15 million and includes XFL assets and intellectual property. Back in April, Vince McMahon and the league filed for bankruptcy after the start of the COVID pandemic brought a screeching halt to their first season, a season which had started with so much promise and a deal with Fox. In their bankruptcy filing, the XFL listed the league with assets and liabilities between $10 million and $50 million.
Interestingly enough, the report adds that RedBird Capital is also an investor in the YES Network, a regional network that airs Yankees games, and has a lot of NFL ties as well.
The 2020 launch of the XFL was an attempt at a second life for the league, after the original launch crashed and burned in 2001. The 2020 version of the league had a lot of really intriguing rule changes that people involved in college football and the NFL were keeping close tabs on.
Upon hearing the news of The Rock's involvement, its was impossible for me to not think of his role in HBO's series Ballers. In the series that spanned five seasons, The Rock played Spencer Strasmore, a financial manager for NFL players who goes from that role to a journey to become the first black majority owner of an NFL team in season five.
Could the ending of that show have some foreshadowing in real life with Johnson now involved with the XFL, with bigger dreams possibly on the horizon? We'll have to wait and see.
Stay tuned to The Scoop for the latest.