Dwayne ‘The Rock’ Johnson, investor group to buy XFL
Former WWE star Dwayne “The Rock” Johnson and an investor group have agreed to buy the XFL for approximately $15 million, according to a Monday news release.
The second iteration of the XFL lasted five weeks before the coronavirus pandemic shut down operations in March. The next month, the league declared bankruptcy, and the league began searching for a buyer.
Now, a group that features Johnson, his business partner and ex-wife Dany Garcia and RedBird Capital Partners will attempt to revive the league — again.
“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,” Johnson said in the release. “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.”
The first attempt at the XFL took place in 2001, and it lasted just one season. Vince McMahon revived the league again this spring in an attempt to create a farm system for the NFL — the XFL featured rule tweaks, including on kickoffs and with timing, in an attempt to create a more fast-paced product — but the coronavirus pandemic scuttled that attempt.
According to ESPN, McMahon considered buying the league again, but he ultimately decided against it.
The league has been “marketing itself as a made-for-TV product that could transition as early as 2021 to a bubble concept during the coronavirus pandemic,” according to ESPN, but there’s no timeline for when Johnson and company could revive the league.
“We are grateful for today’s outcome,” XFL president and COO Jeffrey Pollack said in a release. “This is a Hollywood ending to our sale process and it is an exciting new chapter for the league. Dwayne, Dany and Gerry are a dream team ownership group and the XFL is in the best possible hands going forward.”
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