Vince McMahon Looking For New XFL Buyer Following Bankruptcy
Vince's failed football league is official up for sale.
Have you ever wanted to run your own professional football league? Do you think you can do a better job than Vince McMahon at sustaining a second-tier American sports group? Well here's your chance!
Sort of.
McMahon is now looking for a buyer for the XFL, having put the league up for sale within hours of the announcement that the company had filed for bankruptcy in Delaware. This move came on the back of the weekend's news that the XFL had dismissed most employees and had no plans to return for 2021, having been forced to end their first season back after just five games thanks to the ongoing global health crisis.
Per the Hollywood Reporter, the XFL is out to score as much money as possible for its assets so that it is able to pay its creditors, hence the sale.
As outlined in the bankruptcy filings, the XFL currently has somewhere between $10 million and $50 million in liabilities with assets falling somewhere similar. Over $14 million is owed to its 25 biggest creditors.
Also confirmed in the filings was the revelation that WWE owns 23.5% of the XFL's Class B shares, proving Vince's continued assertion that the XFL and WWE were entirely separate entities false.