Dwayne 'The Rock' Johnson Purchases XFL
BarnBurner Sports Writer
Monday, August 3, 2020
Dwayne Johnson Purchases XFL in $15 million acquisition
It was announced on Monday that Dwayne 'The Rock' Johnson has purchased the XFL for an estimated $15 million. Johnson and his business partner Dany Garcia (also his ex-wife) have been joined with RedBird Capital Partners in the deal.
This purchase comes just hours before an auction of the league's assets was set to occur. The league – rebooted by Vince McMahon after the initial incarnation of the league failed in 2001 – filed for bankruptcy on March 15 after cancelling its season due to COVID-19. The XFL cited the financial strain from the pandemic as the reason for the shutdown. It subsequently laid off all of its staff.
"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 said in a statement Monday.
"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."
The sale is subject to approval from a bankruptcy court on August 7. Presuming all closing conditions on the deal are met, the transaction will be made official on or around August 21.
""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," read a statement from league President and COO Jeffrey Pollack.
"Dwayne, Dany and Gerry are a dream team ownership group and the XFL is in the best possible hands going forward."
Despite being most well-known for his acting and wrestling days, Johnson does have ties to the game of football. A defensive tackle, he played his college ball at Miami (FL) from 1990-94. Following his graduation, he signed with the Calgary Stampeders of the Canadian Football League (CFL). After being assigned to the Stamps practice squad, he was cut in August 1995.
Photo courtesy of TMZ Sports