NATIONWIDE — While wrestling in the WWE, Dwayne "The Rock" Johnson used to refer to himself as "the most electrifying man in sports and entertainment."
As if his #1 ranking atop Forbes' list of highest paid actors of 2019 wasn't enough evidence of that statement, his latest move to buy the XFL just hours before a planned bankrupcy auction might be proof enough.
“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,” Johnson, who played football for the University of Miami, said in a statement. “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.”
“We are grateful for today’s outcome,” said Jeffrey Pollack, President and COO of the XFL. “This is a Hollywood ending to our sale process and it is an exciting new chapter for the league. Dwayne, Dany and Gerry are a dream team ownership group and the XFL is in the best possible hands going forward.”
The XFL, which was founded by WWE Chairman and CEO Vince McMahon, declared bankruptcy in April after the COVID-19 pandemic put a stop to their inaugural season. This iteration of the XFL was a "reboot" of the original league of the same name, which also ran for a single season in 2001.
In its bankruptcy filing, XFL’s parent company Alpha Entertainment listed the league with assets, as well as liabilities, in the range of about $10 - $50 million.
The sale is expected to close on or around August 21, according to a statement.