Dwayne Johnson, Garcia and RedBird buy XFL for $15 million – Reuters Canada

(Reuters) – Former wrestler and Hollywood actor Dwayne The Rock Johnson teamed up with financial investment business RedBird Capital Partners to purchase the XFL for $15 million, hours before the bankrupt American football league was set to be auctioned.
Dany Garcia, Johnsons ex-wife, will likewise be a stakeholder. They were picked as the winning bidder for “substantially all of the assets of Alpha Entertainment LLC” – moms and dad business of the XFL.
The XFL, a reboot of the 2001 league of the very same name, had actually applied for Chapter 11 personal bankruptcy defense in April, a month after it needed to cancel the remainder of its inaugural season because of the COVID-19 pandemic.
” We are grateful for todays result. This is a Hollywood ending to our sale procedure and it is an amazing brand-new chapter for the league,” XFL president and COO Jeffrey Pollack said in a declaration on Monday.
“( They) are an all-star team ownership group and the XFL remains in the very best possible hands going forward.”
The deal undergoes insolvency court approval at a hearing on Friday.
The brainchild of Vince McMahon, the XFL 2.0 was the 2nd effort by the World Wrestling Entertainment CEO to offer an NFL option to American football fans.
Johnson, famous for his functions in popular film franchises such as the Fast & & Furious and Jumanji, was a college football gamer at the University of Miami who went undrafted in the 1995 NFL Draft before he ultimately switched to wrestling.
Reporting by Rohith Nair in Bengaluru; Editing by Toby Davis