"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 … 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. 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. We saw the work that they were doing for this year, and there was some excellent, excellent work. 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. Reportedly the price is $15 million US. 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. "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 now a part-owner of the XFL. The sale auction … The sale must be approved by a bankruptcy judge at a hearing Friday. 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. Dwayne Johnson attends the HBO "Ballers" premiere in New York, July 14, 2016. Dwayne "The Rock" Johnson and Gerry Cardinale's RedBird Capital just bought the XFL, giving the bankrupt football league another boost of life.. As Sportico … The league suspended operations and laid off all of its employees on April 10 and filed for bankruptcy protection on April 13. Asked about hiring other executive-level leaders, she said: "We've been in close discussion with the current XFL management team. It had projected $46 million in gross revenues for the 10-game season, each data point exceeding internal expectations, according to sources. Comments are welcome while open. Former wrestler and Hollywood actor Dwayne Johnson teamed up with ex-wife Dany Garcia and investment company RedBird Capital Partners to buy the XFL … We reserve the right to close comments at any time. XFL president and chief operating officer Jeffrey Pollack is among the league's few active employees. 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. 34 responses to “ Dwayne Johnson, RedBird Capital buy XFL for $15 million ” thetooloftools says: August 3, 2020 at 10:02 am. 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. 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 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. 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. Former wrestling star Dwayne "The Rock" Johnson says he has acquired the XFL. RELATED - Dwayne Johnson And Dany Garcia Prove They Didn’t Just Buy The XFL For Show. 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. There is a team there.". Dwayne 'The Rock' Johnson and private equity firm RedBird Capital have agreed a $15million deal to purchase the XFL. Former wrestling star Dwayne "The Rock" Johnson says he has acquired the XFL for a reported $15 million US. 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 … 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. "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. McMahon considered bidding on the XFL himself early in the bankruptcy process but ultimately decided against it. 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. 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.. 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. (0:41). 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. 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. Monday afternoon, the bankruptcy court's committee of unsecured creditors filed an objection based on certain assets included in the sale. When you don't, it's chaos. Spring football is a difficult challenge, as the Alliance of American Football found out in 2019, not lasting a full season, either. 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 … Last week, it purchased a controlling interest in Toulouse Football Club, a French soccer team. Johnson and business partner Dany Garcia have teamed up with Gerry Cardinale and RedBird Capital Partners to … Dwayne “The Rock” Johnson is one of the owners of the latest edition of the XFL. Comments on this story are moderated according to our Submission Guidelines. Dwayne Johnson attends the HBO "Ballers" premiere in New York, July 14, 2016. 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. (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? 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. Dwayne Johnson Celebrates XFL Purchase, Promises Something Special for Fans. Former wrestling star Dwayne "The Rock" Johnson says he has acquired the XFL. Johnson has a special reason for making the investment. A previous version of the XFL also played one season in 2001. 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. 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.. The XFL was relaunched by WWE … Dwayne 'The Rock' Johnson and Dany Garcia Purchase the XFL. Deal contingent on … Wrestling icon and Hollywood star Johnson bought the American football league in partnership with ex-wife Dany Garcia and investment firm RedBird Capital Partners. May as well bought the Titanic before it’s maiden voyage. https://www.theguardian.com/.../aug/03/dwayne-johnson-the-rock-xfl-owner ", Cardinale is the managing partner and CEO of RedBird, which manages more than $4 billion in assets. "While it's not 100% just turning the lights on, there is still a tremendous amount of infrastructure and relationships that you can actually call people back, pull people back. It has been really interesting to see that [in sports], when you create a bubble, your players are safe. "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. The XFL had eight franchises and played five games out of a planned 10-game schedule before cancelling the remainder of its season in March because of the COVID-19 pandemic. We are a league, because of the number of teams we have, that actually can create a bubble environment. 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. 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. RELATED - Here’s Why … 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 … 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 is excited about his next move after splashing $21m to buy the XFL from his former WWE boss Vince McMahon. The question now is will Alpha Acquico have to capital to fund a pro football league. The 48-year-old actor and ex-CFL defensive lineman made the announcement on Twitter. Dwayne "The Rock" Johnson to Purchase the XFL: Report. Reportedly the price is $15 million US. As if that wasn’t hard enough to digest, DJ left the league completely broke, with literally seven bucks in his pocket. Dwayne 'The Rock' Johnson and private equity firm RedBird Capital have agreed a $15million deal to purchase the XFL. 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. Most were laid off April 10. This comes after the league filed for bankruptcy back in April. The 48-year-old actor made the announcement on Twitter. 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). September 1, 2020 Dwayne “The Rock” Johnson is one of the owners of the latest edition of the XFL. Dwayne “The Rock” Johnson is splurging $AUD21 million to buy the bankrupt XFL from WWE supremo Vince McMahon. Dwayne ‘The Rock’ Johnson buys the XFL in $21 million deal. 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. Chargers sign former XFL tight end Parham Jr. XFL files for bankruptcy after suspending league, Is this it for the XFL? Please note that CBC does not endorse the opinions expressed in comments. The Rock and his associates are now the proud new owners of the XFL, teasing wonderful things to … "We're planning for it," said Garcia, the first female owner of a major American sports league. Add some “good” to your morning and evening. DWAYNE ‘THE ROCK’ JOHNSON has bought the XFL from Vince McMahon in an £11.5million deal. Dwayne Johnson Buys The XFL For $15 Million And Is Handed ‘The Keys’ The Rock just bought a football league. The league averaged 1.9 million television viewers per game and generated nearly $20 million in gross revenues in 2020, according to court filings. 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 entity that purchased the XFL is Alpha Acquico, LLC, a joint … ‘The deal is official closed and … Dwayne "The Rock" Johnson and business partner Dany Garcia partnered with Gerry Cardinale's RedBird Capital to purchase the XFL for $15 million Monday. If it wasn't for WWE Chairman Vince McMahon, Dwayne Johnson might be in a much different place in … Vince McMahon will not be resurrecting the XFL, but rather, Dwayne “The Rock” Johnson and partners are the new owners.. He spent two months with the Calgary Stampeders in 1995. The Rock and his associates are now the proud new owners of the XFL, teasing wonderful things to come for the failed football league. DJ issued out a deep tweet, discussing the real reason behind the XFL purchase. The XFL declared Chapter 11 bankruptcy on April 13 and has been seeking a buyer for the past … 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… 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 . He is just one of several partners, so they should have the funds to see this through. Audience Relations, CBC P.O. 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 Pop Culture Dwayne Johnson, in a surprise move, has purchased the XFL along with his business partners Dany Garcia and RedBird Capital. CAA Sports’ executive search team, led by Joe Becher, is running the search. The lawsuit was on hold awaiting the results of the bankruptcy. Confirming that the @xfl2020 has been purchased by a group that includes Dwayne Johnson, aka The Rock, for $15 million. Closed Captioning and Described Video is available for many CBC shows offered on CBC Gem. "We're doing all the steps that need to happen for the execution of that. The 48-year-old actor made the announcement on Twitter. The deal comes mere hours before the XLF was set to go to a … 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. 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 … 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 … Kevin Seifert analyzes Dwayne Johnson's plan for the XFL after The Rock purchased the league with a group of investors. Since ending his wrestling career, Johnson has become a movie star, including in the "Fast & Furious" and "Jumanji" franchises. But the eight teams suspended play after five weeks. 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 … ESPN has also confirmed the purchase. In Dwayne Johnson’s case his net worth is valued at around $320 million for 2020. Those discussions are active.". 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. What will The Rock do with the XFL? 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. 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. So they should have the funds to see this through we have, that actually can a... Being mindful to what has actually been successful its employees on April.! 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