According to reports, the WWE wrestler and Hollywood actor purchased the bankrupt American football league in partnership with his ex-wife and businesswoman Dany Garcia and private investment firm RedBird Capital for $15 million USD. The XFL was previously owned by Alpha Entertainment — a private company founded by Vince McMahon, chairman and CEO of WWE — which filed for bankruptcy earlier in April shortly after cutting the XFL season short due to the ongoing Coronavirus pandemic.
Johnson explained his decision to acquire the franchise in a statement, saying it was “rooted deeply in two things — my passion for the game and my desire to always take care of the fans.” He added that he’s looking forward to “creating something special for the players, fans, and everyone involved for the love of football.”
Before finalization, the deal will have to be approved at a hearing at a bankruptcy court on August 7. Once approved, the purchase could be completed by as early as the end of the month.
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
— Dwayne Johnson (@TheRock) August 3, 2020
In other sports-related news, J. Cole is reportedly training for the NBA.