XFL files for bankruptcy, with Bob Stoops among largest creditors

Getty Images

The XFL confirmed it filed for bankruptcy Monday.

“The XFL quickly captured the hearts and imaginations of millions of people who love football,” the spring league said. “Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis. Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football.”

The league laid off all its employees and suspended operations Friday.

When the XFL announced last month it was prematurely ending the 2020 season because of COVID-19, the startup league said it would return in 2021. It is possible someone could buy the league, but it seems more likely spring football is done for the foreseeable future after failures — for different reasons — of the Alliance of American Football and the XFL the past two springs.

XFL owner Vince McMahon, who is chairman and CEO of the WWE, twice has tried to get the XFL rolling. He has yet to speak publicly about the league folding again.

The Chapter 11 filing, officially made by Alpha Entertainment, listed the XFL with assets and liabilities each in the range of $10 million to $50 million, Kevin Seifert of ESPN reports. The St. Louis Sports Commission, at $1.6 million, was the largest creditor.

According to Darren Rovell of The Action Network, creditors also include Dallas Renegades coach Bob Stoops ($1.083 million), Tampa Bay Vipers coach Marc Trestman ($777,777), Ticketmaster ($655,148), St. Louis BattleHawks coach Jonathan Hayes ($633,333), other coaches ($583,333 each) and MetLife Stadium lease ($368,000).

17 responses to “XFL files for bankruptcy, with Bob Stoops among largest creditors

  1. Spring football is just dumb. I love football but after the Superbowl there’s a certain level of being over it for the year. We just saw the best football players in the country, and now you want us to go from that to a sub par product? Just not interested.

    Late summer league during the dog days between mini camp and preseason? Sure, that could be interesting.

    Slightly.

  2. “This does not bode well for the Freedom Football League…”
    _____________

    Just like how the AAF didn’t bode well for the XFL. Until somebody has realistic expectations and is content to start small and build organically instead of expecting big TV numbers from Day 1 these leagues will continue to bomb.

  3. The XFL was always underfunded. No one can compete with the NFL. Never have, never will.

  4. Waaaait a second. Did anyone look at the list of creditors? I guess to get hired as a coach in the league, all you had to do was invest in it.

  5. harnessb1tch says:
    April 13, 2020 at 4:39 pm
    Your comment is awaiting moderation. This is a preview, your comment will be visible after it has been approved.

    snowlock2013 says:
    April 13, 2020 at 4:13 pm

    Late summer league during the dog days between mini camp and preseason? Sure, that could be interesting.

    ————–

    It exists. It’s called the CFL and it is the next best football to the NFL. Every offseason many CFL players get on with NFL camps/team rosters for the following season.

  6. snowlock2013 says:
    April 13, 2020 at 4:13 pm

    Late summer league during the dog days between mini camp and preseason? Sure, that could be interesting.

    ————–

    It exists. It’s called the CFL and it is the next best football to the NFL. Every offseason many CFL players get on with NFL camps/team rosters for the following season.

  7. I thought Vince was good to go for several years. I’m sure he’ll use Covid as a convenient scapegoat.

  8. “Just like how the AAF didn’t bode well for the XFL. Until somebody has realistic expectations and is content to start small and build organically instead of expecting big TV numbers from Day 1 these leagues will continue to bomb.”

    ===========================

    I know people are treating this situation like every other spring league, but we just cannot. These circumstances are much different than normal league closures-the XFL literally cannot conduct operations right now because of government measures.

  9. What did anyone expect??? Anything Vince McMahon is involved with is a farce to begin with!!1

Leave a Reply

You must be logged in to leave a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.