Finally, the XFL has come back from bankruptcy.
Former WWE wrestler and current world famous actor Dwayne “The Rock” Johnson has teamed with a private equity firm to buy the bankrupt XFL. The Rock and RedBird Capital have split a $15 million price tag to buy the league, as was first reported by Sportico’s Scott Soshnick. Details on the purchase came through just hours before the league was scheduled to be auctioned off.
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The XFL had returned in 2020 after first forming in 2001 for one season. Amidst the Coronavirus pandemic, the league folded on April 10th. The league was run by WWE CEO Vince McMahon, his second attempt at running the Xtreme Football League. McMahon said after it folded that he had no interest in trying to buy back the league he had poured upwards of $200 million into.
The Rock brings his own football pedigree to the table on top of his star power. Johnson was a defensive end for the University of Miami Hurricanes and played for the CFL’s Calgary Stampeders. When he was cut, Johnson moved to wrestling and started his rise to the megastar he is now. His involvement in the new league could bring in new eyes just because of his star power. The XFL didn’t just get a life preserver – they got a giant, Rock-powered life boat.