We might not have seen the last of the XFL.
Dwayne “The Rock” Johnson was among a group of winning bidders to buy XFL parent company Alpha Entertainment LLC for $15 million, per a Monday press release. The actor and former WWE superstar is joined by prominent entrepreneur Dany Garcia and RedBird Capital Partners in the purchase.
“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 a statement. “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 XFL filed for Chapter 11 bankruptcy April 13, about a month after its 2020 season was shuttered because of the COVID-19 pandemic. The second iteration of founder Vince McMahon’s spring league lasted five weeks of play.
“We are grateful for today’s outcome,” XFL President and COO Jeffrey Pollack said. “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.”
Johnson and Garcia are co-founders of Seven Bucks Companies, which includes investments, brand integrations, philanthropic endeavors, marketing, and film and television projects. Cardinale, the founder of RedBird Capital Partners, has established several multi-billion dollar sports and entertainment companies.
Their plans to resuscitate the fledgling football league remain to be seen.
With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL.
With gratitude & passion I’ve built a career with my own two hands and will apply these callouses to our @xfl2020 brand.
Excited to create something special for the fans! #XFL #fullcircle pic.twitter.com/LprJ6HjglD
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