The investment group, which includes actor Dwayne Johnson, the former WWE star, has agreed to buy XFL for $15 million.
The investment group, including actor and former WWE star Dwayne Johnson, decided to buy XFL for some $15 million.
- The purchase of the XFL league, which was promised in 2020 before COVID-19, was a piracy deal.
- Reports suggest that Garcia and Johnson will retain several executives from the old regime.
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The XFL declared bankruptcy in Chapter 11 in April when the second attempt to become the second professional soccer league of America seems successful. The “TV-made product” has been on sale for the past three months.
Dwayne ”The Rock” Johnson to buy XFL
Paradoxically, The Rock buys XFL . He started as a WWE star working for Vince McMahon, the original owner of XFL.
Also, The Rock work in the HBO series, Ballers, draws some comparisons. In the series, he works with players as an agent/consultant. Now Las Vegas is putting together an auction group to buy riders.
In real life, Johnson is about to get his league. The whole circle of things and how life can come to art is fun.
The price is right
$15 million to buy a full football league, even bankruptcy, is almost laughable. Think about contracts for some professional athletes. Patrick Mahomes is almost three times more than a season. Some NFL owners are worth more than a billion dollars.
The purchase of the XFL league , which was promised in 2020 before COVID-19, was a piracy deal. If it fails, the losses are absorbable. If it succeeds, the future rating of the league will become the biggest success for Johnson and his investment team.
Johnson’s partners include his longtime business partners Dany Garcia and Gerry Cardinale. Garcia will hold an executive position with XFL.
She said, she and Johnson will have a handful of approaches to running the league. When the deal is done, she will be the first female owner of a professional American sports league. Reports suggest that Garcia and Johnson will retain several executives from the old regime.
Here’s what The Rock has to say on buying a league:
“Buying XFL with my talented partners Danny Garcia and Gerry Cardinale is an investment that is deeply rooted in two things – my passion for the game and my desire to always take care of the fans,” Johnson said. With pride and gratitude for everything I have built with my own two hands, I plan to use these call houses for the XFL and look forward to creating something special for everyone involved in players, fans and football lovers.”
When will the contract be made?
The sale is expected to be approved by a bankruptcy court judge at Friday’s hearing. After that investigation, we will know whether The Rock is officially a league owner or whether the buying process is further drawn up.