Dwayne Johnson, better known as the former wrestler turned actor named The Rock, apparently is now one of the owners of the XFL. There is some paperwork ahead that needs to be completed but the Rock and his partners offered $15 million for the assets of the failed second incarnation of the XFL. There was only one group interested in buying what amounts to the name XFL and the various team names, logos and trademarks. The XFL has no players, it is unclear if the XFL still has any valid stadium leases with cities or if any city wants a third try at the XFL. Vince McMahon will go down in professional football and sports history in the United States as the only entrepreneur that failed twice at trying to establish a football league.
In March, the XFL suspended 2020 operations after five weeks because of the COVID-19 outbreak in the United States but McMahon vowed to return in 2021. On April 10th, McMahon pulled the plug. McMahon decided bankruptcy was the most fitting way to put his latest football venture into the dustbin of failed sports leagues history. Alpha Entertainment, which was doing business as the XFL, filed for Chapter 11 bankruptcy protection although it was not exactly clear how much cash Alpha Entertainment had on hand or how much Alpha Entertainment owed creditors. McMahon claimed he was ready to invest hundreds of millions of dollars into the venture and was going to give the league at least three years to see if it would be viable. McMahon did not have the necessities to survive. Mc Mahon did not have government support as in sweetheart leases with cities for his eight outlets. TV deals did not produce revenue. Startup football leagues don’t work. Now it is Dwayne Johnson and his partners’ turn to find that out.