After Vince McMahon folded the XFL due to the 2020 season being cut short as a result of the COVID-19 pandemic, and then filed for bankruptcy. It looked as it the league was gone for a second time. However, in 2021, Dwayne “The Rock” Johnson, Dany Garcia and RedBird Capital purchased the XLF from Vince McMahon for $23.5 million.
According to a new report from Forbes, investors Disney, RedBird Capital Partners, Garcia and Johnson paid $23.5 million to take control of the XFL through a joint venture holding company, Alpha Acquico. It was also noted that included $8.5 million to settle previous XFL debt. The league would not however, disclose what percentages the individual stakeholders control.
The report further notes that per Johnson they were paid $20 million per season by ESPN. The league projects $100 million in revenue next year after losing an estimated $60 million this year. It was further said the league even had to cut some jobs.
Prior to his professional wrestling career, Johnson was a defensive lineman at the University of Miami. Johnson told Forbes he considers the XFL “a league of opportunity” for guys, like him, who played college football but never made it to the NFL. At the University of Miami, Johnson lost his starting job to Warren Sapp – a future NFL Hall of Famer. However, he still thought his name might still be called in the 1995 NFL draft. It was not. “Football was my dream...the NFL was my thing. I was going to buy my parents their first house.”
Johnson and the rest of the investors are confident the league will succeed. XFL Chair Dany Garia noted to Forbes they are extremely well-capitalized for the long-term. She went on to say the XLF is their new WWE and is the next massive live property.
This year with its re-launch, the Arlington Renegades defeated the DC Defenders in the championship game. Games aired across ESPN, FX, and ABC networks.