Dwayne 'The Rock' Johnson purchases XFL for $15 million
The XFL was heading for a bankruptcy auction, but a former WWE star and current actor swooped in on Monday to purchase the league.
According to Sportico, Dwayne "The Rock" Johnson has purchased the XFL for $15 million with RedBird Capital as a partner.
Gerry Cardinale, owner of RedBird Capital, and Johnson split the $15 million evenly, Sportico reports. Johnson's business partner and ex-wife Dany Garcia also will be a stakeholder.
The XFL filed for bankruptcy in April after the coronavirus pandemic caused the cancellation of its inaugural season. Although they filed for bankruptcy, the league, founded by WWE Chairman and Chief Executive Officer Vince McMahon, had a good television audience and also negotiated a broadcast agreement with Fox.
The XFL has served as a pathway for players to make it to the NFL. This offseason, Jordan Walker signed a deal with the Carolina Panthers, Jordan Ta'amu signed with the Kansas City Chiefs and Deatrick Nichols signed with the New Orleans Saints, among others.
RedBird's acquisition of the XFL is only it's latest move in the sports world. The company also bought French soccer team Toulouse recently and created a special purpose acquisition company that will focus on buying companies in sports, media and data analytics.
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