A group of investors, including Dwayne “The Rock” Johnson, has agreed to purchase the XFL for approximately $15 million, according to a news release issued earlier this morning.
“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 Johnson, who played football at the University of Miami from 1990-94. “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.”
“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.”
Gerry Cardinale is the managing partner and Chief Executive Officer of RedBird, which manages more than $4 billion in assets.
XFL President and Chief Operating Officer Jeffrey Pollack called the sale “a Hollywood ending.”
Vince McMahon brought the XFL back to life earlier this year but the season of XFL 2.0 ended prematurely due to the coronavirus pandemic. In April, just two months after kicking off its season, the XFL ceased all operations, laid off all its employees, and declared bankruptcy. McMahon invested over $200 million in reviving the league, a process which took two years.