As you’re probably well aware of by now, the XFL was forced into bankruptcy last year because of the ongoing Covid pandemic. Since then the league has been purchased by Dany Garcia, Dwayne ‘The Rock’ Johnson and RedBird Capital, but the new ownership group is still sorting through items stemming from it’s bankruptcy.
One of those items is the remaining players salaries.
According to Daniel Kaplan The Athletic, XFL players will get as little as four cents on the dollar for their claims for unpaid wages.
XFL players to get about 4 percent of their claims after bankruptcy plan administrator decision. My story https://t.co/dpOG6SPdWY
— Daniel Kaplan (@KaplanSportsBiz) June 22, 2021
Kaplan goes on to say that the average claims were in the range of $14,000, some are set to get less than $600.
Last week, the administrator Peter Hurwitz wrote the court, he is “prepared to calculate the rejection damages in the amount of $7,280 ($1,040 weekly salary multiplied by seven weeks remaining under the Player Contract).”
However the players will not get $7,280, that is just what Hurwitz determined is a legitimate claim. Farrow estimated players would get eight to 12 percent of that.
As it stands now, it looks as if the money won’t be received until the end of the year, or possibly early 2022.
The XFL is currently working towards making yet another comeback, but the timeline has been yet to be seen. Initially, the new ownership group announced a 2022 return. But, with the news of a possible partnership with the CFL, the 2022 season is on hold until talks are complete.
This has led many people to believe that the league won’t hit the field until 2023, which at this point would probably be the best play. XFL co-owner Dany Garcia has gone on record as saying that they want to take their time, hoping to avoid the mistakes of its predecessors.
When you you think the XFL will return? Let us know your thoughts down in the comments below or join the conversation on Discord.
