HOUSTON – The XFL is coming back, thanks to Dwayne “The Rock” Johnson.
The actor, producer and retired wrestler teamed up with Redbird Capital and became the only bid to purchase the bankrupt league before the auction was slated to begin, according to NBC Sports and Sportico.
The group paid $15 million for the league, split evenly with Johnson’s business partner and ex-wife, Dany Garcia. She will become a stakeholder in the XFL with him.
“I could not imagine a better outcome for the XFL. [Johnson, Garcia and Redbird Capital] are the best possible ownership group for the exciting journey ahead,” XFL President Jeffrey Pollack, who oversaw the sale process for the league, told Sportico in a statement. “Their collective track-record of success in entertainment, sports and media is stellar, and I think our fans, players, coaches, and partners are in for something special.”
The transaction was subject to a bankruptcy court approval hearing Friday, with a scheduled closing date of Aug. 21 after conditions are satisfied.
The XFL filed for bankruptcy due to the coronavirus pandemic, prompting the cancellation of the league’s season, which was off to a promising start earlier in the year.
There was no word on when the XFL will make a return.