Dwayne “The Rock” Johnson buys XFL in $15 million deal
Photo Source: SportsSkeeda
Washington, DMV – According to Globe Newswire, “Dwayne “The Rock” Johnson, is now officially a part-time owner of the Xtreme Football League (XFL). In retrospect as his business partners, Dany Garcia and Gerry Cardinale has tag teamed with The Rock and Redbird Partners to purchase the parent company of the XFL for $15 million just hours before an auction was set.” Several media sources including USA Today reported that, “The parent company, Alpha Entertainment LLC reportedly filed for Chapter 11 bankruptcy back in April due to COVID-19 forcing the league to shut down completely after a month.”
Photo Source: BleacherReport
According to Comicbook, “WWE CEO/ Chairman, Vince McMahon founded the failed league, which was shortly followed by bankruptcy earlier this year.” The Bleacher Report also stated, “McMahon announced the relaunch of the XFL in January 2018, hoping to capitalize on the market for spring football and the popularity of the 30 for 30 documentary about the original XFL, which was scrapped after one season.” In February 2018, the XFL launched with eight teams, with approximately 3.1 million viewers, which quickly dwindled down to less than a million viewers over a 5-week period.
Photo Source: Biz Journals
Many have speculated the motives in the regards to revamping the XFL and bringing it back to life. Dwayne “The Rock” Johnson stated to the Bleacher Report, “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.” Dwayne is not shy to show the fans why the XFL is worth his investment and time.
“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”Dwayne “The Rock” Johnson
Photo Source: USA Today
It’s not clear exactly how the $15 million dollar deal Dwayne “The Rock” Johnson just signed with his new partners in the XFL will plan out after several previous XFL employees were laid off during COVID-19. According to Sportico, “All investors involved will share an equal stake in the business with the deal. The new group has also agreed to assume the XFL’s debt of approximately $9.2 Million.” This announcement has given Americans a reason to enjoy simple pleasures in life a again while our communities rebuild during these times, as well as having an unexpected and exciting new chapter to look forward to!
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