As of today, August 21, the XFL officially belongs to the team of Dwayne “The Rock” Johnson, Dany Garcia, and Gerry Cardinale, the investors who purchased the league and its intellectual property for $15 million earlier this month.
The three equal partners purchased the XFL before assets of the league were set to go on bankruptcy auction. They were the only ones who put in an offer for the league, which folded after just a few months due to the coronavirus pandemic.
“The deal is official closed and ‘the keys’ to the XFL have been handed over. I humbly accept and promise to put my callouses to hard work building our new brand,” Johnson wrote on Twitter. “Congrats to my partners @DanyGarciaCo & #GerryCardinale and our sharp, hungry team.”
A bankruptcy court judge signed off on the sale on August 7, just a couple of days after the sale was announced. Vince McMahon, through his Alpha Entertainment LLC company, put in $200 million into the league which took two years of planning before having the first match in February of this year.
This was the second go for the league after bombing big time two decades ago. Everything points to another restart for the XFL under new management although no plans have been announced.