XFL HAS 20 BIDDERS, REPORT SAYS
Twenty bidders submitted non-disclosure agreements to begin negotiations to purchase the XFL, The Athletic reported. The Athletic said the “robust market” was a surprise and will include at least six others who are in the process of joining the negotiating process. Houlihan Lokey, the XFL’S bank, is handling the deal, which might not be finalized until September. However, the XFL reportedly already has begun discussing extending stadium leases. “I understand the Debtor has modelled for 2021 a made-for-tv, 12-week tournament-style approach to its business, since the XFL is particularly well suited for a crowd-free experience that could thrive in the current environment.” The XFL filed for bankruptcy in mid-april. Reports suggested owner Vince Mcmahon might be back as part of an investment group, but he said he wouldn’t return to the XFL.