The coronavirus pandemic began right in the middle of the XFL season, causing it to not only shut down but go out of business. In the weeks after the league seemed to be dead again and owner Vince McMahon was seeking a buyer. Months later, that buyer has been found and it is someone who got his start under McMahon, Dwayne “The Rock” Johnson.
Johnson, the most in-demand actor in Hollywood and a former WWE Superstar, is teaming with Gerry Caridnale’s RedBird Capital to buy the XFL for $15 million. The league was going to be up for auction, but was purchased just before the event could occur, Sportico reports.
The $15 million sale was split evenly and will also see The Rock’s business partner and ex-wife, Dany Garcia, as a stakeholder. RedBird also boasts ties to the NFL and players.
“For Dwayne, Gerry and myself, this property represents an incredible opportunity. It is the confluence of great passion, tradition and possibility” said Dany Garcia. “Sports and entertainment are the foundations of the businesses I have built. Melding our expertise combined with our commitment to deliver exciting and inspiring unique content, has us all focused on developing the XFL brand into a multi-media experience that our athletes, partners and fans will proudly embrace and love.”
“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,” said Dwayne Johnson. “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.”
“It is a privilege to partner with Dany and Dwayne on the acquisition of the XFL,” said Gerry Cardinale, Founder and Managing Partner of RedBird Capital Partners. “Their track record in building dynamic businesses speaks for itself, and their vision and passion for developing the XFL as a world class sports and entertainment property will enable a new future for this organization. As their partner in acquiring and relaunching the XFL, RedBird will bring its own track record and experience in building world class companies in sports and live entertainment to help realize their vision.”
The XFL filed for bankruptcy in April after having over three million viewers in its first week. This buy seemingly is set to start the third edition of the football league.