XFL is on its third down—will the new owners be the win it needs?
Dwayne "The Rock" Johnson stepped in at the last second to save the XFL from another loss. With just hours to spare before the once bankrupt league went up for auction, Johnson and RedBird Capital purchased it for about $15 million with hopes to get it up and running.
The league was purchased from former owner Vince McMahon and was approved by a Delaware bankruptcy court on August 7. McMahon, CEO of the WWE, founded the league in 2001, but it lasted all of one season. He rebooted the XFL in 2018, and it was actually doing decent in 2020 until the season was canceled due to the pandemic. The entertainment company formed to run the league declared bankruptcy in April of 2020.
Will the third time be the charm? It appears The Rock and his partners are cooking up a plan to launch the league in 2021, though COVID-19 may be its toughest opponent. The league is hoping it can start with eight teams using the same "bubble" strategy as other pro teams. Once possible, the plans are to expand into more teams.
The Rock discussed the news of the acquisition in a press release:
"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."
What do you think? Will you be watching the latest incarnation of the XFL, or have you been burned too many times as a fan to enjoy it? Let us know in the comments.