Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Dwayne "The Rock" Johnson Buys XFL for $15 million


Mon 03 Aug 2020 | 07:56 PM
shawar ibrahim

Dwayne "The Rock" Johnson, his long-time business partner and ex-wife Dany Garcia, and Cardinale's RedBird Capital have reportedly purchased the XFL and split the price tag of $15 million evenly, according to Sportico.com.

The company name that officially purchased the league is listed as "Alpha Acquico, LLC", according to PWInsider. Since the group was the only "bidder" that provided an offer, the auction has been cancelled as a result.

As noted, the league, under Vince Mcmahon shut down and filed for 11 bankruptcy back in early April due to the negative impact from COVID-19. At the time, all major employees were let go.

This new transaction is required to be approved through a bankruptcy court at a hearing this Friday, August 7. If all conditions are properly met, it is expected to close around the date of August 21.

It will be interesting to see what the group has prepared for the future of XFL. RedBird has made multiple investments in sports-related products over the years, and they also have connections with people in the National Football League.

Obviously the involvement of The Rock shows that Vince McMahon, although no longer directly involved with the company, won't be too far out of the loop.