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This comes after the league filed for bankruptcy back in April. Dwayne 'The Rock' Johnson and Dany Garcia Purchase the XFL. Johnson, who hails from Hayward, Calif., was a defensive tackle for the University of Miami from 1991 to 1994, winning a national title his first year. May as well bought the Titanic before it’s maiden voyage. Following bankruptcy proceedings, Dwayne Johnson and his business partners have purchased the XFL. Dwayne 'The Rock' Johnson and Dany Garcia Purchase the XFL The XFL has been sold to an investment group that includes actor and retired professional wrestler … Dwayne Johnson attends the HBO "Ballers" premiere in New York, July 14, 2016. Box 500 Station A Toronto, ON Canada, M5W 1E6. Dwayne ‘The Rock’ Johnson buys the XFL in $21 million deal. As noted earlier this morning, Dwayne “The Rock” Johnson, his long-time business partner Dany Garcia, and Cardinale’s RedBird Capital have purchased the XFL. ESPN has also confirmed the purchase. The actor and former wrestling star is part of a group of investors who have bought the XFL after the spring football league went bankrupt in its return season amid the coronavirus pandemic. Dwayne 'The Rock' Johnson has revealed the his deal to buy the XFL for $15million has 'officially closed' and 'the keys' have been handed over. The XFL has been sold to a group that includes former WWE star Dwayne “The Rock’’ Johnson, giving the bankrupt football league the kind of star power that may draw even non-sports fans. Comments on this story are moderated according to our Submission Guidelines. Johnson, an actor and producer who played college football at the University of Miami, teamed up with Gerry Cardinale’s RedBird Capital to buy the league just hours before a … The Deeper Reason For The Purchase. The XFL has been sold to a group that includes former WWE star Dwayne “The Rock’’ Johnson, giving the bankrupt football league the kind of star power that may draw even non-sports fans. Asked about hiring other executive-level leaders, she said: "We've been in close discussion with the current XFL management team. In November, it invested $125 million in a new company that secures commercial rights for the NFL. Johnson and RedBird Capital purchased the XFL for $15 million on Monday morning, hours before a bankruptcy auction of the failed football league was scheduled to begin, according to Sportico . Organizational plans for the newest version of the XFL are not clear. We reserve the right to close comments at any time. Here's what we know after the sale, The inside story of the XFL's sudden collapse, and what comes next for spring football, Even with Patrick Mahomes, Chiefs loading up on developmental QBs, A one-of-a-kind path to the NFL draft: How the XFL prepped Kenny Robinson, Panthers draft Robinson, who left college for XFL, Ex-commissioner Luck sues XFL owner McMahon, Falcons add depth at CB with XFL's Hawkins. Dwayne "The Rock" Johnson is now a part-owner of the XFL. ", Cardinale is the managing partner and CEO of RedBird, which manages more than $4 billion in assets. "The acquisition of the XFL with my talented partners, Dany Garcia and Gerry Cardinale, is an investment for me that's rooted deeply in two things -- my passion for the game and my desire to always take care of the fans," said Johnson, who played football at the University of Miami from 1990 to 1994. The XFL has been sold to a group that includes former WWE star Dwayne “The Rock’’ Johnson, giving the bankrupt football league the kind of … Wenn. August 3, 2020 Vince McMahon will not be resurrecting the XFL, but rather, Dwayne “ The Rock ” Johnson and partners are the new owners. Actor and ex-WWE star Dwayne 'The Rock' Johnson bought the XFL with investor Gerry Cardinale for $15 million after the spring football league's bankruptcy The two reportedly split the purchase … Most were laid off April 10. Former college football player Dwayne “The Rock” Johnson is stepping into the ring of pro sports ownership with a little help from an investment firm that already has ties to the NFL and Ligue 2. McMahon fired XFL commissioner Oliver Luck on April 9, and Luck responded by suing McMahon for wrongful termination and is seeking $23.8 million. The sale must be approved by a bankruptcy judge at a hearing Friday. XFL reaches multi-year agreement with ESPN, Fox, Rocky Johnson remembered by son as a wrestler who shattered racial barriers, CBC's Journalistic Standards and Practices. Per the report, Johnson teamed up with RedBird Capital and pressed the “buy it now” button, making the purchase only … Dwayne Johnson, a former pro wrestler who has become a major film and TV star, is buying the XFL, according to Scott Soshnick of Sportico.com. The XFL assets will be sold to Garcia, Johnson and RedBird for approximately $15 million, in accordance with the terms and conditions of the asset purchase agreement. Dwanye “The Rock” Johnson has teamed up with RedBird Capital and Dany Garcia to purchase the XFL. Johnson has a special reason for making the investment. The 48-year-old actor made the announcement on Twitter. XFL president and chief operating officer Jeffrey Pollack is among the league's few active employees. (0:41). The Rock and his associates are now the proud new owners of the XFL, teasing wonderful things to … Johnson and business partner Dany Garcia have teamed up with Gerry Cardinale and RedBird Capital Partners to … Reportedly the price is $15 million US. Johnson and his investors -- who include his business partner Dany Garcia along with RedBird Capital Partners -- are making plans to play next season, Garcia told ESPN. Kevin Seifert ESPN Staff Writer A group including actor and former WWE star Dwayne Johnson has agreed to purchase the XFL for about $15 million, according to a news release issued Monday morning. Chargers sign former XFL tight end Parham Jr. XFL files for bankruptcy after suspending league, Is this it for the XFL? The transaction is subject to bankruptcy court approval at a hearing this Friday, August 7 and, assuming that closing conditions are satisfied, is expected to close on or shortly after August 21. "We're doing all the steps that need to happen for the execution of that. Johnson, his ex-wife and business partner Dany Garcia, and RedBird Capital Partners have teamed up to purchase the rights to the XFL for $15 million, … The Rock and his associates are now the proud new owners of the XFL, teasing wonderful things to come for the failed football league. September 1, 2020 Dwayne “The Rock” Johnson is one of the owners of the latest edition of the XFL. It had projected $46 million in gross revenues for the 10-game season, each data point exceeding internal expectations, according to sources. Dwayne Johnson and his investors bought the XFL for $15 million on Monday from WWE boss Vince McMahon after the league had filed for bankruptcy as the season was cancelled amidst the COVID-19 pandemic. Kevin Seifert analyzes Dwayne Johnson's plan for the XFL after The Rock purchased the league with a group of investors. The Hollywood actor and former WWE superstar, who played college football for the Miami Hurricanes before making his name in wrestling, teamed up with the private equity firm to buy the league hours before a scheduled auction. Dwayne "The Rock" Johnson and business partner Dany Garcia partnered with Gerry Cardinale's RedBird Capital to purchase the XFL for $15 million Monday. The Rock and Partners Buy the XFL for $15M After Bankruptcy. Wenn Dwayne Johnson is to become a co-owner of the revamped XFL American football league after agreeing to a deal to buy out his old WWE boss Vince McMahon. The lawsuit was on hold awaiting the results of the bankruptcy. The former WWE Champion has teamed up with Gerry Cardinale’s RedBird Capital to purchase the league for $15 million, according to a press release sent out Monday morning.. Dwayne Johnson XFL purchase objected by unsecured creditors: Reports. Former wrestling star Dwayne "The Rock" Johnson says he has acquired the XFL for a reported $15 million US. Dwayne 'The Rock' Johnson has revealed the his deal to buy the XFL for $15million has 'officially closed' and 'the keys' have been handed over. The XFL declared Chapter 11 bankruptcy April 13 and has been seeking a buyer for the past three months, marketing itself as a made-for-TV product that could transition as early as 2021 to a … With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL. The league suspended operations and laid off all of its employees on April 10 and filed for bankruptcy protection on April 13. The sale auction … Hollywood star Dwayne “The Rock” Johnson is a new part-owner of the XFL as the league attempts another comeback. A previous version of the XFL also played one season in 2001. Dwayne “The Rock” Johnson is one of the owners of the latest edition of the XFL. Actor and producer Dwayne Johnson, Dany Garcia and Gerry Cardinale's RedBird Capital have agreed to buy the XFL, the bankrupt football league founded by WWE CEO Vince McMahon. The deal comes mere hours before the XLF was set to go to a … Deal contingent on … Spring football is a difficult challenge, as the Alliance of American Football found out in 2019, not lasting a full season, either. RELATED - Dwayne Johnson And Dany Garcia Prove They Didn’t Just Buy The XFL For Show. The XFL has twice shuttered after one season, first in 2001 and again earlier this year as a result of the pandemic, and there hasn't been a successful alternative professional football league since the AFL forced a merger with the NFL in 1970. The question now is will Alpha Acquico have to capital to fund a pro football league. The XFL 3.0 is hunting for a Chief Football Officer, a senior exec who would oversee all football operations under the new ownership of Dwayne “The Rock” Johnson, Dany Garcia and RedBird Capital Partners, per sources. "The Rock bought the XFL for $15 million — which is valued as highly as $50 million — with his ex-wife as part-owner and just hours before the league hit auction. Dwayne “The Rock” Johnson is splurging $AUD21 million to buy the bankrupt XFL from WWE supremo Vince McMahon. ", "There are a lot of excellent people in that team," Garcia said. "We're planning for it," said Garcia, the first female owner of a major American sports league. In Dwayne Johnson’s case his net worth is valued at around $320 million for 2020. The XFL was relaunched by WWE … The XFL declared Chapter 11 bankruptcy April 13 and has been seeking a buyer for the past three months, marketing itself as a made-for-TV product that could transition as early as 2021 to a bubble concept during the coronavirus pandemic. Wrestling icon and Hollywood star Johnson bought the American football league in partnership with ex-wife Dany Garcia and investment firm RedBird Capital Partners. After filing for bankruptcy, the XFL has found new owners in Dwayne "The Rock" Johnson, Dany Garcia and Gerry Cardinale's RedBird Capital, who have agreed to purchase the Vince McMahon-founded football league for $15 million. ", In a statement, Pollack called the pending sale "a Hollywood ending" and said Johnson's investors are "a dream team ownership group and the XFL is in the best possible hands going forward. https://www.cbr.com/xfl-dwayne-johnson-buying-from-vince-mcmahon Former Buffalo Bills and Sabres President Russ Brandon is serving as an adviser to one of the new owners of the XFL, Sports Business Journal reported Thursday. Reportedly the price is $15 million US. The XFL has been sold to a group that includes former WWE star Dwayne “ The Rock ’’ Johnson, giving the bankrupt football league the kind of star … Dwayne “The Rock” Johnson is excited about his next move after splashing $21m to buy the XFL from his former WWE boss Vince McMahon. As the highest paid actor in 2018, 2019 and 2020, Dwayne "The Rock" Johnson can buy just about anything he wants. CAA Sports’ executive search team, led by Joe Becher, is running the search. DWAYNE ‘THE ROCK’ JOHNSON has bought the XFL from Vince McMahon in an £11.5million deal. The entity that purchased the XFL is Alpha Acquico, LLC, a joint … It has been really interesting to see that [in sports], when you create a bubble, your players are safe. Add some “good” to your morning and evening. in Pop Culture Dwayne Johnson, in a surprise move, has purchased the XFL along with his business partners Dany Garcia and RedBird Capital. Since ending his wrestling career, Johnson has become a movie star, including in the "Fast & Furious" and "Jumanji" franchises. “When the first XFL [launched], the quality of play, it wasn’t NFL and we’ve been so stuck on the NFL, you can’t get the NFL in any other league. If it wasn't for WWE Chairman Vince McMahon, Dwayne Johnson might be in a much different place in … He spent two months with the Calgary Stampeders in 1995. Actor and producer Dwayne Johnson, Dany Garcia and Gerry Cardinale's RedBird Capital have agreed to buy the XFL, the bankrupt football league founded by WWE CEO Vince McMahon. Garcia will have an executive position with the XFL and said that both she and Johnson will have a hands-on approach to running the league. Those discussions are active.". Former wrestling star Dwayne "The Rock" Johnson says he has acquired the XFL. The former WWE Champion has teamed up with Gerry Cardinale’s RedBird Capital to purchase the league for $15 million, according to a press release sent out Monday morning. 34 responses to “ Dwayne Johnson, RedBird Capital buy XFL for $15 million ” thetooloftools says: August 3, 2020 at 10:02 am. By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. Dwayne, Dany and Gerry are a dream team ownership group and the XFL is in the best possible hands going forward.” Johnson's ex-wife, Dany Garcia, is … Former wrestling star Dwayne "The Rock" Johnson says he has acquired the XFL. The 48-year-old actor made the announcement on Twitter. "With pride and gratitude for all that I've built with my own two hands, I plan to apply these callouses to the XFL and look forward to creating something special for the players, fans and everyone involved for the love of football. Dwayne ‘The Rock’ Johnson has revealed that his deal to buy the XFL for $15million has ‘officially closed’ and ‘the keys’ have now been handed over. But we're also being mindful to what has actually been successful. The actor's purchase of the XFL League feels reminiscent of the show, "Ballers." Dwayne 'The Rock' Johnson is part of the team buying the XFL Dwayne 'The Rock' Johnson is teaming up with his ex-wife and a top sports management company to buy the bankrupt X… (0:41), Rock-solid buy: Ex-WWE star, group to own XFL, McMahon says he won't try to buy back XFL, In filing, McMahon claims Luck fired 'for cause', Source: Chargers hire Pep Hamilton as QB coach, Dwayne 'The Rock' Johnson, wife, daughters COVID-19 positive, Johnson announces, Matt Rhule gets 'juice' flowing for Panthers with high-energy practices, Rock on: XFL sale to Johnson's group approved, Will there be an XFL season in 2021? To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). Audience Relations, CBC P.O. McMahon considered bidding on the XFL himself early in the bankruptcy process but ultimately decided against it. Aug 5, 2020 Dwayne “The Rock” Johnson may have garnered the bulk of the headlines when his group purchased the XFL on Monday ahead of a scheduled bankruptcy auction … The XFL has been sold to an investment group that includes actor and retired professional wrestler Dwayne 'The Rock' Johnson. Dwayne 'The Rock' Johnson, Dany Garcia Team Up with Investor Group to Buy the XFL for $15 Million this link is to an external site that may or may not meet accessibility guidelines. After all, the league showed some promise in its initial season from its … https://www.insidehook.com/.../dwayne-the-rock-johnson-buys-xfl-15-million Vince McMahon will not be resurrecting the XFL, but rather, Dwayne “The Rock” Johnson and partners are the new owners.. Dwayne "The Rock" Johnson and his ex-wife/business partner Dany Garcia are now owners of the XFL.Along with RedBird Capital, the group was able to purchase for pro football league for $15 million hours before the sale auction. Dwayne "The Rock" Johnson to Purchase the XFL: Report. Pseudonyms will no longer be permitted. He is just one of several partners, so they should have the funds to see this through. The actor revealed today that the … Dwayne 'The Rock' Johnson Buys XFL for $15 Million. The league averaged 1.9 million television viewers per game and generated nearly $20 million in gross revenues in 2020, according to court filings. Former wrestler and Hollywood actor Dwayne Johnson teamed up with ex-wife Dany Garcia and investment company RedBird Capital Partners to buy the XFL … The WWE chief owned the American football league which he relaunched this year but then went int… Dwayne The Rock Johnson bought the XFL in August for $15 million, a move former NFL linebacker Channing Crowder categorized as a giant waste of money. The script truly sells itself in terms of his XFL purchase, here’s a guy that never made it to the NFL and got cut from the CFL. But XFL owner Vince McMahon had been a determined aspirant, investing $200 million in the league's second incarnation, one that promised to "reimagine" the game. The XFL declared Chapter 11 bankruptcy on April 13 and has been seeking a buyer for the past … We saw the work that they were doing for this year, and there was some excellent, excellent work. The 48-year-old actor and ex-CFL defensive lineman made the announcement on Twitter. It is a priority for CBC to create a website that is accessible to all Canadians including people with visual, hearing, motor and cognitive challenges. Dwayne "The Rock" Johnson was among a group of winning bidders to buy XFL parent company Alpha Entertainment LLC for $15 million, per a Monday press release. RELATED - Here’s Why … Dwayne 'The Rock' Johnson and private equity firm RedBird Capital have agreed a $15million deal to purchase the XFL. It ’ s maiden voyage players are safe female owner of a American... 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