SJ - August 3, 2020
Dwayne "The Rock" Johnson swooped in hours before the XFL was supposed to be auctioned off and saved the professional football league. The man who does it all teamed up with RedBird Capital and his ex-wife, business woman Dany Garcia.
The group reportedly put up approximately $15 million to save the league from God knows what. The reboot of the XFL was a big hit before the pandemic cut their inaugural season short.
From CBS Sports:
The XFL will live on, thanks to another WWE legendary figure taking the majority stake in the football league -- but this time it's not Vince McMahon. Dwayne "The Rock" Johnson, RedBird Capital and Dany Garcia teamed up to purchase the XFL for approximately $15 million just hours before the once-bankrupt league was set for auction.
RedBird Capital is an investment firm that focuses on providing flexible and long-term capital to help entrepreneurs grow their businesses, and the XFL will be its latest challenge. Garcia, Johnson's business partner and ex-wife, will also be a stakeholder in the league.
The transaction is subject to bankruptcy court approval at a hearing this Friday, Aug. 7 and, assuming that closing conditions are satisfied, is expected to close on or shortly after Aug. 21.
With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL.
With gratitude & passion I’ve built a career with my own two hands and will apply these callouses to our @xfl2020 brand.
Excited to create something special for the fans! #XFL #fullcircle pic.twitter.com/LprJ6HjglD
— Dwayne Johnson (@TheRock) August 3, 2020
The Rock is the hero we need. If anyone is going to save the XFL it's him. Everything he touches, including some of his shit movies, turns to gold.
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