Dwayne ‘The Rock’ Johnson is now part owner of the XFL
Aug 05 2020
They were selected as the winning bidder for "substantially all of the assets of Alpha Entertainment LLC" - parent company of the XFL. Assuming that closing conditions are satisfied, the sale is expected to close on or shortly after August 21.
Alpha Entertainment filed for bankruptcy in April after the Covid-19 pandemic forced the shutdown of the league's first season. A month later, the XFL filed for chapter 11 bankruptcy.
Both Dwayne and Garcia are longtime business partners are now, they have joined the forces with Gerry Cardinale's RedBird Capital. It is the confluence of great passion, tradition and possibility.
The 48-year-old was a college football player at the University of Miami who went undrafted in the 1995 NFL Draft before he eventually switched to wrestling.
Cardinale is the managing partner and CEO of RedBird, which manages more than $4 billion in assets.
McMahon indicated in May that he would not attempt to repurchase the league. During its fifth and final week, however, the XFL had around half that viewership. Kickoffs, a routine feature of games that experts have linked to high rates of concussions, underwent a dramatic change in the XFL, with teams lining up close to each other so as to eliminate running-start collisions.