Dwayne “The Rock” Johnson Partners With Investment Firm To Purchase The XFL

Dwayne “The Rock” Johnson, his long-time business partner Dany Garcia, and Cardinale’s RedBird Capital have purchased the XFL. The group reportedly spit the price of $15 million dollars evenly, according to Sportico.com.

The Rock has now taken to social media to confirm the news. He also took the time to make a statement on the purchase, saying that the group will work tirelessly to bring something special to the XFL fans.

“With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL,” Dwayne writes. “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”

As noted, the league shut down and filed for Chapter 11 bankruptcy earlier this year as the Coronavirus pandemic grew in severity. At the time, all major employees were let go.

This new transaction is required to be approved through a bankruptcy court at a hearing this Friday, August 7. If all conditions are properly met, it is expected to close around the date of August 21.

https://twitter.com/TheRock/status/1290304952414347264

Vince McMahon On The XFL Surviving, 20 Potential Buyers Interested In The League

Wrestling Inc has noted earlier at this link, XFL boss Vince McMahon responded to recent claims that he was looking to buy back the league in new bankruptcy court filings. The commiittee of unsecured creditors to the XFL recently objected to the bankruptcy filing, claiming Vince was trying to rig the bankruptcy process as a way to buy back the league without fully paying back debtors. Vince dismissed the speculation and said he would not be a bidder for the league. The response filing from earlier this week labeled the recent claims by the creditors as “inflammatory rhetoric and unsubstantiated accusations.”

Daniel Kaplan of The Athletic has revealed Vince’s full comments from the recent deposition testimony.

“I don’t know why that’s out there, making me out to be the bad guy, (that) I’m going to buy the XFL back for pennies on the dollar, basically,” McMahon said. “That helped me move into the direction of I’m not going to be a bidder, not going to have anything to do with it. I do hope that someone will pay a lot of money for it, and I do hope that it will survive.”

While it looks like Vince won’t be a bidder, there are dozens of potential purchasers currently in “active discussions” with the XFL’s investment bank, Houlihan Lokey, according to the filing. The Athletic adds that most potential purchasers have indicated that the potential for an XFL season in the spring of 2021 is important to them.

“Based on preliminary feedback, there is a robust market for the Debtor’s assets, including a number of potentially interested private equity firms and other strategic and financial sponsors,” Vince’s recent filing said.

Houlihan managing partner William Hardie noted in a separate filing that the prospective buyers are looking to generate revenue and further establish the league in a “content-starved environment” in the spring of 2021, to avoid leaving space out to 2022 that would allow others to potentially act on the opportunity. Houlihan had distributed teasers to 235 potential purchasers as of May 25, and as of that date, 20 potential purchasers had executed non-disclosure agreements and gained access to a date room that contains extensive diligence materials on the league. As of that date, 6 more potential purchasers were in the process of executing non-disclosure agreements to gain access to the data room.

Furthermore, the XFL has crafted a scenario for a potential tournament that would begin in February 2021.

“In fact, I understand the Debtor has modeled for 2021 a made-for-TV, 12-week tournament-style approach to its business – since the XFL is particularly well suited for a crowd-free experience that could thrive in the current environment, given its existing innovations such as in-game audio from players and coaches and live on-screen sports wagering information,” wrote Hardie in his filing.

The committee of creditors wants the sales process to run through mid-September, instead of the early July time frame that was proposed by McMahon. In a concession, Vince agreed to extend the sales process through the first week of August. He warned that any more time would jeopardize a relaunch in 2021.

A Delaware bankruptcy court hearing was scheduled for Wednesday of this week, for the dispute between the league, and its parent company Alpha Entertainment, and the creditors.

Source: Wrestling Inc.

Former XFL Commissioner Oliver Luck Files Lawsuit vs. Vince McMahon

Former XFL commissioner Oliver Luck filed a lawsuit against Vince McMahon.

Luck cites wrongful termination after the league ceased operations and filed for chapter 11 bankruptcy.  Luck seeks unspecified damages, judggment on fulfilling terms of his deal. Luck’s deal is reportedly worth around $20 million over its lifespan.

McMahon’s lawyer says luck’s “allegations will be disputed”.

XFL Files For Chapter 11 Bankruptcy After Suspending Operations

The XFL’s parent company filed for Chapter 11 bankruptcy Monday, the first business day after the league suspended operations and laid off almost all of its employees.

The filing, officially made by Alpha Entertainment, listed the XFL with assets and liabilities each in the range of $10 million to $50 million. The largest creditor was listed as the St. Louis Sports Commission at $1.6 million. Seven of the league’s eight coaches also are among the top creditors.

In a statement, the XFL attributed its decision to the coronavirus pandemic:

“The XFL quickly captured the hearts and imaginations of millions of people who love football. Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis. Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football.”

Owner Vince McMahon, who is also chairman and CEO of the WWE, has not spoken publicly about the XFL’s demise.

XFL chief operating officer Jeffrey Pollack held a conference call Friday with employees to announce the layoffs and suspension of operations. Although Pollack stopped short of saying the league is going out of business, staffers left the call convinced that the XFL will not return.

A source close to the bankruptcy filing said the league could be sold during the process.

McMahon announced the return of the XFL in January 2018, and the league spent two years in development before debuting in February. The eight-team league made it through five weeks of games before suspending and finally canceling its season because of the pandemic. It pledged as recently as three weeks ago to return in 2021, but that changed after McMahon began assessing the league’s future following WrestleMania 36 on April 4-5.

The XFL paid its employees through April 12, plus accrued vacation time. The league also plans to refund all advance ticket sales.

Source: ESPN

XFL Ceased Operations

It appears that the Coronavirus (Covid-19) pandemic has ended the XFL.

Two months and two days after the league hosted its first game, the XFL informed employees on Friday that it was ceasing operations and layed off nearly every employee. As of now there is no plans to return in 2021.

It’s a shame, because XFL 2.0 was a quality product that dwarfed its original version and served as a reasonably interesting alternative to the NFL for football fans. The difference was clear from the very first game that bright Saturday in February in the nations capital, where the DC Defenders defeated the Seattle Dragons withe the support of a large raucous crowd

. Well remember Houston Roughnecks quarterback P.J. Walker, who probably would have been the league MVP and is now with the Carolina Panthers in the NFL. Well remember the St. Louis Battlehawks, who exceeded expectations and temporarily satisfied the hunger of a football starved city. Well remember Bob Stoops, who left retirement for his first professional opportunity, coaching the Dallas Renegades. The XFL knew what it needed to be.

Sources: ESPN and USA Today

XFL Will Allow Players To Join The NFL Or CFL

A few days ago, the XFL announced it would be halting the remainder of its relaunched season after five weeks. This was due to the Coronavirus, which has affected the entire world. It joined the NBA, MLB, NHL, NCAA, golf and a number of other sports that halted action due to the epidemic.

“Currently, the XFL will not be playing its regular-season games,” the XFL stated in a release. “However, all players will be paid their base pay and benefits for the 2020 regular season. All XFL ticket holders will be issued refunds or credit toward future games. The XFL is committed to playing a full season in 2021 and future years.”

While the XFL will look to continue next season, will it be with some of its original players? It was initially announced that the contracts of XFL players are only for one year. The XFL previously stated that players couldn’t sign with the NFL until after the XFL playoffs. That may change now that the season ended early.

According to ProFootballTalk, a player can be signed by the NFL or CFL, as long as there is a “credible contractual offer” made. A player could be invited to a workout, but they would need to sign a waiver while remaining under contract with the XFL.

Additionally, NFL.com is stating that once physicals are complete, players can sign where they please. A number of players have gotten interest from the NFL, including Houston Roughnecks QB P.J. Walker, who the Seahawks have looked into.

Source: Wrestling Inc.

XFL Cancels Rest Of Season Due To Coronavirus/COVID-19

The relaunched XFL did not get a chance to finish its season. Despite ratings declining, that was not what did it in.

The league joined much of the sports world as it suspended play after five weeks. This is due to the coronavirus that is currently spreading around the world. Several states have banned more than 250 people from showing up to arenas around the country.

The XFL provided a statement that assured that players will be paid their base salary, while also including benefits. All XFL ticket holders will be issued refunds or credit towards future games. The league added that they planned to return in 2021.

“Currently, the XFL will not be playing its regular-season games,” this statement reaffirming. “However, all players will be paid their base pay and benefits for the 2020 regular season. All XFL ticket holders will be issued refunds or credit toward future games. The XFL is committed to playing a full season in 2021 and future years.”

Prior to everything shutting down, the Seattle Dragons were going to be playing inside an empty stadium against the Los Angeles Wildcats.

Since then, MLB, NHL, NCAA (including the NCAA Tournament), boxing and MMA have all decided to cancel, move or hold events without fans. WWE has been forced to move SmacklDown to the Performance Center, while Ring of Honor, New Japan Pro Wrestling and AEW, among others, have had to alter their schedule to accommodate what is going on.

According to the la test from CNN, the coronavirus has infected over 124,518 people, with 4,607 deaths confirmed.

 

Source: Wrestling Inc.

XFL Television Ratings Hit New Low

XFL television ratings hit a new low in Week 5.

Both Sunday games dropped below one million viewers for the first time, despite the late game airing on ESPN as opposed to the weaker ESPN 2 the prior week. The first game on Sunday airing on FS1 between the St. Louis BattleHawks and DC Defenders averaged 767,000 viewers, the smallest audience for an XFL game yet. The ESPN game on Sunday evening between the Tampa Bay Vipers and the Los Angeles Wildcats averaged 833,000 viewers.

Total attendance for the weekend was the lowest so far this season with 64,246 fans, down 8.5% from last week.

The first game on ABC on Saturday fared much better, as the audience was only down 1% from the week prior to 1.547 million viewers. However, the following game on FOX, which faced competition from NCAA basketball, was down 17% to 1.497 million viewers.

The four games averaged 1.16 million viewers, down 16% from Week 4.

Below are details ratings and attendance numbers for the first five weeks, courtesy of Showbuzz Daily:

Week 1 (Feb 8 & 9):
Sat. Game 1 – ABC, Seattle at DC (17,163 fans): 3.302 million viewers, 1.1 (18-49)
Sat. Game 2 – FOX, L.A. at Houston (17,815): 3.29 million, 1.1
Sun. Game 1 – ABC, Tampa Bay at New York (17,634): 3.39 million, 1.0
Sun. Game 2 – FOX, St. Louis at Dallas (17,206): 2.5 million, 0.93
Total Attendance: 69,818
Average: 3.12 million viewers

Week 2 (Feb 15 & 16):
Sat. Game 1 – ABC, New York at D.C. (15,031): 2.146 million, 0.6 (18-49)
Sat. Game 2 – FOX, Tampa Bay at Seattle (29,172): 2.324 million, 0.6
Sun. Game 1 – ESPN, Dallas at L.A. (14,979): 2.397 million, 0.6
Sun. Game 2 – FS1, St. Louis at Houston (17,103): 1.359 million viewers, 0.51
Total Attendance: 76,285 (+9.3%)
Average: 2.06 million viewers (-35.9%)

Week 3 (Feb 23 & 24):
Sat. Game 1 – ABC, Houston at Tampa Bay (18,117): 1.914 million (-10.8%), 0.6 (no change)
Sat. Game 2 – FOX, Dallas at Seattle (22,060): 2.051 million (-11.8%), 0.5 (-16.7%)
Sun. Game 1 – ESPN, New York at St. Louis (29,554): 1.473 million (-38.54%), 0.47 (-21.7%)
Sun. Game 2 – FS1, D.C. at L.A. (12,211): 1.004 million (-26.12%), 0.37 (-27.5%)
Total Attendance: 81,942 (+7.4%)
Average: 1.61 million viewers (-21.8%)

Week 4 (Feb 29 & Mar 1):
Sat. Game 1 – ABC, L.A. at New York (12,116): 1.558 million (-24%), 0.4 (-33%)
Sat. Game 2 – FOX, Seattle at St. Louis (27,527): 1.802 million (-5.85%), 0.5 (no change)
Sun. Game 1 – FS1, Houston at Dallas (18,332): 1.113 million (+10.86%), 0.38 (-19%)
Sun. Game 2 – ESPN 2, D.C. at Tampa Bay (12,249): 1.030 million (2.59%), 0.34 (-8.1%)
Total Attendance: 70,224 (-14%)
Average: 1.38 million viewers (-14%)

Week 5 (Mar 7 & 8):
Sat. Game 1 – ABC, Seattle at Houston (19,773): 1.547 million (-0.7%)
Sat. Game 2 – FOX, New York at Dallas (15,950): 1.497 million (-17%)
Sun. Game 1 – FS1, St. Louis at D.C. (16,342): 767,000 (-31%)
Sun. Game 2 – ESPN, Tampa Bay at L.A. (12,181): 833,000 (-19%)
Total Attendance: 64,246 (-8.5%)
Average: 1.16 million viewers (-16%)

 

 

Source: Wrestling Inc.

Stadium Employee Who Worked XFL Game Tests Positive For Coronavirus

A part-time employee at CenturyLink Field who worked an XFL game between the Seattle Dragons and Dallas Renegades on Feb. 22 has tested positive for the coronavirus, according to a statement from the stadium.

Public health officials determined the risk to be low for the 22,060 people who attended the game. The employee “did not show symptoms at that time and has not been on-site since,” the statement adds.

https://twitter.com/CenturyLink_Fld/status/1235730710536675329

The unidentified employee was a concession vendor, Lewis Kamb of the Seattle Times reports.

XFL president and COO Jeffrey Pollack said the league has created a COVID-19 task force and is closely monitoring the issue, according to ESPN.

“The health and safety of the extended XFL family – especially our fans in Seattle – is of the utmost importance,” Pollack said in a statement. “We share everyone’s concern about this public health issue and understand it is evolving on a daily basis.”

Scheduled sporting events at CenturyLink Field are currently set to go ahead.

Seventy people have been diagnosed with the coronavirus in Washington state, including 11 who have died.

Source: TheScore

XFL TV Ratings Suffer Noticeable Drop In Week Two While Attendance Rises

XFL television television ratings fell in week two. However, Ben Fischer of Sports Business Journal noted that attendance for the weekend was up 9.5% to 76,285 fans from the opening weekend because of the strong attendance for the Seattle Dragons opener.

In its second week, the XFL averaged 2.06 million viewers between the four games that aired on ABC, FOX and FS1. This was down 34% from the debut weekend, which averaged 3.12 million viewers between the four games that aired on ABC, FOX and ESPN.

The first game on Saturday between the DC Defenders and New York Guardians averaged 2.146 million viewers on ABC. It was down 35% from 3.302 million viewers from the prior week. According to Showbuzz Daily, the game averaged a 0.6 rating in the 18-49 demo, which was down 45% from the opening week. The game drew 15,031 fans in D.C., down 12.4% from the D.C. game last week.

The second game on Saturday between the Tampa Bay Vipers and the Seattle Dragons averaged 2.324 million viewers on FOX, down 29% from the previous week. The game scored a 0.6 rating in 18-49, so it was also down 45%. It drew 29,172 to CenturyLink Field in Seattle, which was the biggest crowd yet for an XFL game.

On Sunday, the first game featuring the Dallas Renegades vs. LA Wildcats averaged 2.397 million viewers on ABC and was the highest rated game of the weekend. It was down 29% from the prior week, which aired on FOX. Like the Saturday games, the game garnered a 0.6 rating in the 18-49 demo, down 40% from the week prior. It was the L.A. opener and averaged 14,979 fans at the Dignity Health Sports Park, the smallest crowd so far for an XFL game.

The final game of the weekend between the St. Louis Battlehawks and Houston Roughnecks aired on FS1 for the first time, which has the lowest reach of any network airing the XFL. The game averaged 1.359 million viewers, down 45% from last week’s game that aired on ESPN. It scored a 0.51 rating in 18-49, down 45% from the opening weekend. It drew 17,103 fans in Houston, down 4% from last week’s game in the city.

The AAF saw a much steeper 65% drop in television ratings from week one to week two, however the AAF aired on national television on CBS in its first week, compared to TNT and the NFL Network in its second. The original XFL in 2001 fell 52% from week one to week two on NBC.

Source: Wrestling Inc.

For the full XFL 2020 schedule click HERE.

 

Here is the schedule for Week 3 of the XFL.

SAT, FEB 22 – 2:00 PM ET

Houston Roughnecks @ Tampa Bay Vipers

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SAT, FEB 22 – 5:00 PM ET

Dallas Renagades @ Seattle Dragons

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SUN, FEB 23 – 3:00 PM ET

New York Guardians @ St. Louis BattleHawks

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SUN, FEB 23 – 6:00 PM ET

DC Defenders @ LA Wildcats

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