Earlier this week we learned that Dany Garcia, Dwayne ‘The Rock’ Johnson and Gerry Cardinale of RedBird Capital would be forming a new joint-venture to purchase the XFL for $15M. The news shocked and pleased XFL fans worldwide, but at the time of the announcement nothing was official. To be clear, the deal is not 100% complete, but we’re one step closer.
Just now via Daniel Kaplan of TheAthletic.com, the judge in the leagues bankruptcy case has approved the sale of the league to the new ownership group.
Bankruptcy judge approves sale of XFL to group including Dwayne The Rock Johnson
— Daniel Kaplan (@KaplanSportsBiz) August 7, 2020
Shortly after the new came out of the sale, there was an objection to the sale by unsecured creditors in the case. At the time we had speculated that it shouldn’t impact the upcoming sale. Thankfully, that seems to be the case.
Next stop, August 21st, where the deal should be finalized and the new owners can finally take the helm. As of now the idea is still to target a 2021 return, but nothing is set in stone just yet. There have been arguments for both 2021 and 2022 returns, but ultimately that will come down to the new leadership to make that call.
Clearly, this is great news. It’s great that the league seems to be on track for a return, regardless of when that may be. We’ll keep you posted as more information comes out on the sale and return on the XFL.
Do you think the XFL will return in 2021 or wait until 2022? Let us know down in the comments below or join the conversation on Discord.
