Dwayne Johnson ac­quires XFL for $15 mil.

The Korea Times - - PEOPLE -

For­mer wrestler and Hol­ly­wood ac­tor Dwayne Johnson teamed up with ex-wife Dany Gar­cia and in­vest­ment com­pany RedBird Cap­i­tal Part­ners to buy the XFL for $15 mil­lion, hours be­fore the bank­rupt Amer­i­can foot­ball league was set to be auc­tioned.

They were se­lected as the win­ning bid­der for “sub­stan­tially all of the as­sets of Al­pha En­ter­tain­ment LLC” — par­ent com­pany of the XFL.

The XFL, a re­boot of the 2001 league of the same name, had filed for Chap­ter 11 bank­ruptcy pro­tec­tion in April, a month af­ter it had to can­cel the re­main­der of its in­au­gu­ral sea­son be­cause of the COVID-19 pan­demic.

“We are grate­ful for to­day’s out­come. This is a Hol­ly­wood end­ing to our sale process and it is an ex­cit­ing new chap­ter for the league,” XFL pres­i­dent and COO Jef­frey Pol­lack said ins a state­ment on Mon­day.

“(They) are a dream team own­er­ship group and the XFL is in the best pos­si­ble hands go­ing for­ward.”

The trans­ac­tion is sub­ject to bank­ruptcy court ap­proval at a hear­ing on Fri­day. The brain­child of Vince McMa­hon, the XFL 2.0 was the sec­ond at­tempt by the World Wrestling En­ter­tain­ment CEO to pro­vide an NFL al­ter­na­tive to Amer­i­can foot­ball fans.

Pop­u­larly known as ‘The Rock’ Johnson is fa­mous for his roles in pop­u­lar movie fran­chises such as the ‘Fast Fu­ri­ous’ and ‘Ju­manji’.

“With grat­i­tude and pas­sion I’ve built a ca­reer with my own two hands and will ap­ply these cal­louses to our @xfl2020 brand,” Johnson wrote on Twit­ter. “Ex­cited to cre­ate some­thing spe­cial for the fans!”

The 48-year-old was a col­lege foot­ball player at the Univer­sity of Mi­ami who went un­drafted in the 1995 NFL Draft be­fore he even­tu­ally switched to wrestling. (Reuters)

Dwayne Johnson

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