XFL HAS 20 BIDDERS, RE­PORT SAYS

Calgary Herald - - SPORTS -

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.

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