(Reuters) – Former wrestler and Hollywood star Dwayne Johnson coordinated with ex-wife Dany Garcia and investment business RedBird Capital Partners to buy the XFL for $15 million, hours prior to the bankrupt American football league was set to be auctioned.
They were selected as the winning bidder for “significantly all of the properties of Alpha Entertainment LLC” – parent business of the XFL.
The XFL, a reboot of the 2001 league of the same name, had actually declared 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 exciting brand-new chapter for the league,” XFL president and COO Jeffrey Pollack said in a declaration on Monday.
“( They) are a dream group ownership group and the XFL is in the very best possible hands going forward.”
The transaction goes through personal bankruptcy court approval at a hearing on Friday.
The brainchild of Vince McMahon, the XFL 2.0 was the 2nd attempt by the World Wrestling Entertainment CEO to provide an NFL alternative to American football fans.
Popularly understood as The Rock, Johnson is famous for his functions in popular film franchises such as the Fast & & Furious and Jumanji.
” With appreciation and passion Ive developed a profession with my own 2 hands and will use these callouses to our @xfl2020 brand name,” Johnson wrote on Twitter. “Excited to create something unique for the fans!”
The 48-year-old was a college football gamer at the University of Miami who went undrafted in the 1995 NFL Draft before he eventually switched to battling.
Reporting by Rohith Nair in Bengaluru; Editing by Toby Davis and Christian Radnedge
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