Earlier this month on August 3rd, the huge news of the XFL’s acquisition filled the headlines. When most thought that the league was down and out, it was revealed that the XFL was being purchased by Dwayne ‘The Rock’ Johnson, his ex-wife and business partner Dany Garcia and RedBird Capital. The trio formed a new company, Alpha Acquico, LLC, to handle the transaction.
There was some minor objections from the creditors, but the sale was approved by the judge handling the bankruptcy case later in the same week on the 7th. This paved the way for everything to be finalized today, and that’s exactly what we’re here to talk about.
Earlier in the morning, prior to the announcement, new co-owner Dany Garcia took to Twitter to say that it was a “Big day” and shared an article ranking all of the XFL names and logos. As you may, or may not know; today is not only the day that the deal will be finalized between Garcia The Rock and RedBird, but it’s also the one year anniversary of when the XFL revealed all eight of it’s team identities.
Dwayne ‘The Rock’ Johnson also got in on the fun, Tweeting his own message about the deal being closed. He congratulated his business partners and said he promises to put his callouses and hard work into building the new XFL.
It wasn’t too much longer after Garcia announced the news on Twitter before we were able to obtain a statement from XFL representatives.
Dany Garcia, Dwayne Johnson and RedBird Capital Partners announced that the acquisition of the XFL was closed and the new ownership group has officially assumed full control of the XFL and its assets.
We want to thank those who helped make this possible behind the scenes, including: Grant Tani Barash & Altman; PJT Partners; Sidley Austin LLP; Fried, Frank, Harris, Shriver & Jacobson LLP; Young Conaway Stargatt & Taylor, LLP; and Houlihan Lokey.
Since the blockbuster deal was announced many have wondered when the XFL would try to make a return to game play. There are arguments for both 2021 and 2022, but either way we’re just happy that it we know it will be returning now that there is a new ownership group in place. Add to that fact that between the star power of The Rock, the business prowess of Dany Garcia and the connections that RedBird brings puts the XFL in a very good spot to succeed.
We’ve already seen The Rock’s new association with the XFL receive positive attention from media and fans across the world. It’s even been reported that FOX is interested in continuing to air the XFL due to Johnson’s role with the league. The XFL on FOX Twitter account even started Tweeting for the first time since the season suspended when the news came out that the XFL had been purchased.
This is definitely exciting news and we want to personally congratulate Dany Garcia, Dwayne Johnson and Gerry Cardale on the new transaction. We look forward to seeing where you can take this league that we all loved and can’t wait to cover the XFL under the new ownership group for many years to come.
What do you think of the XFL’s new owners? Do you think they will try to return in 2021 or take their time and aim for 2022? Let us know down in the comments below or join the conversation on Discord.