Dwayne Johnson Part of Team Buying American Football Team XFL for $15M - Newslibre

Dwayne Johnson Partners with Dany Garcia In Deal to Buy Out XFL for $15M

Dwayne Johnson commonly known by his wrestling stage name “The Rock” has partnered with his ex-wife and business partner Dany Garcia together with RedBird Capital Partners, which is an investment firm to buy XFL for $15 Million.

The deal is waiting for a court announcement that is to be made on the issue of approving the bankruptcy claim that was filed by the XFL team. Johnson and his partners are purchasing the assets of the XFL from Alpha Entertainment, a private company founded by WWE chairman and CEO Vince McMahon.

Alpha filed for bankruptcy in April after ending the XFL season early because of the Covid-19 pandemic. And it is on such a background that the Hollywood superstar chose to buy the assets.

Dwayne Johnson says that he is looking to “creating something special for the players, fans, and everyone involved for the love of football.”

A news release did not specifically report when or if the XFL would be revived. It said the new owners planned “to option live entertainment intellectual property for further expansion across sports, live events, and original entertainment programming.”

“This is a Hollywood ending to our sale process, and it is an exciting new chapter for the league,” Jeffrey Pollack, the XFL’s president, said.

The new league kept the name but promised a back-to-basics approach for the 2020 season with no gimmicks. It did continue to innovate with the rules, offering teams a chance to go for 1, 2, or 3 points after a touchdown.

Dwayne Johnson partnered with Dany Garcia together with RedBird Capital Partners to buy XFL for $15 Million

“We’re planning for it,” said Garcia, the first female owner of a major American sports league. “We’re doing all the steps that need to happen for the execution of that. But we’re also being mindful to what has actually been successful.

It has been really interesting to see that [in sports], when you create a bubble, your players are safe. When you don’t, it’s chaos. We are a league, because of the number of teams we have, that actually can create a bubble environment. Those discussions are active.”

Dwayne Johnson Part of Team Buying American Football Team XFL for $15M - Newslibre
(Image Credit: CBS Sports)

The league drew an average of about three million viewers in its first week, but the audience was halved by the time it shut down in March. The championship was never awarded, although the Houston Roughnecks were the only undefeated team.

Although the coronavirus was the immediate cause of the league’s shutdown, it had always faced an uphill climb to counter the resources and audience of the N.F.L. The United Football League, the Fall Experimental Football League, and the Alliance of American Football all closed down after short runs in recent years.

Pollack spoke of a “100-year brand” before the season in February, which very quickly looked like a poor prediction. The chance of restarting minor league football in the current world environment seems close to zero.

 

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Dwayne Johnson Partners with Dany Garcia In Deal to Buy Out XFL for $15M 1

Author: Moses Echodu

Moses is an avid Sports and Tech enthusiast. He loves to keep up to date with all the latest information and research on some of the most compelling stories.

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