XFL is actively looking for a buyer

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The XFL technically is in bankruptcy, but Vince McMahon is still hoping to break the bank, sort of, by selling the resurrected-but-on-life-support football league.

According to Dan Primack of Axios.com, the XFL is searching for a buyer, with investment bank Houlihan Lokey managing the process. Letters of intent are due by June 12, with formal bids due by July 6.

The XFL claims that it would have generated $46 million in revenue during the 2020 season, which was cut short due to the pandemic. The games had average attendance of 20,000, along with 1.9 million average viewers during TV broadcasts of the games.

The XFL’s bankruptcy was filed under Chapter 11, which is used for reorganization not liquidation. So, at least for now, the XFL intends to try to proceed. If it doesn’t, however, someone other than Vince McMahon will own it.

22 responses to “XFL is actively looking for a buyer

  1. Sadly for them the XFL was actually doing much better with this reboot. Vince McMahon just needs to call it quits with his football dreams, obviously this again was something oustide of his control but it shows that no pro sports leagues outside of the major one’s(NBA, NFL, MLB, NHL) have the foundation to react to whatever is going on in the world.

  2. Vince….I’ll give you $50.00 for the Seattle Dragons franchise!

  3. Funny as much as people on here love to hate on the NFL for some reason any other football league that starts up can’t make it. So maybe just maybe it isn’t as easy as people think it is. No shooting fish in a barrel here.

  4. Would be a good investment for Amazon. Surprised Bezos has not looked into it.

  5. I’ll offer my $1200 in stimulus funds, I fear I’ll still lose money if Vince makes the deal.

  6. Closing up shop guarantees they’ll get no serious offers. If they’d declared hiatus until next season they’d maybe have a shot provided they could show some promising financials but as of now you’d be buying nothing but a name that is associated with failure. There are no employees, no player or coaches, everybody has been laid off, all agreements with stadiums, etc, are null and void, so you’d be restarting totally from scratch.

  7. The NFL should buy it and make it an off-season minor league like NFL Europe was.

  8. I don’t understand why people keep trying to compete with the NFL. The NFL is so rich, there is no competition. First, these so called leagues aren’t going to get the same Talent as the NFL. Did the XFL really think a QB who couldn’t cut it on the Steeler’s roster would somehow become a big name QB while playing with scrubs, and people will pay to watch it. For every Tommy Maddox, and Kurt Warner, there are way more who just aren’t good enough to cut.

    Good luck to ever buys this league. Until you are serious about the money and protection for players, all these leagues will get are no-tier players, who continue to long for the NFL.

  9. The XFL is a better product. They’re tickets are cheaper, you get the same fan experience. Only thing that remained the same was the parking and food and drink beverages. Nfl couldn’t top what they were doing.

  10. I have been saying this for a long time, but the NFL should swoop in and create a minor league of sorts.

    They rules could all be the same as the NFL and, if they want to make changes to certain rules, they could introduce and test them in this league. The teams would play at the same time of the year as the NFL (but maybe play on the off NFL schedule days like Tuesday & Wednesday) and have call ups when injuries happen.

    These players would be compensated and still have to go through the same rules for eligibility as college players so it wouldn’t infringe on the college game.

    Just seems like something the NFL could do to honestly further its product either in smaller areas of the US or abroad.

  11. Personally, I liked the AAF much better than the XFL. I like the idea of playing in cities that did not have an NFL franchise. To me that made a lot of sense than going up against an NFL existing team.

    I think it would be great if the NFL took over spring time football using the AAF model. The NFL could try out every rule change they were considering in the Spring first. NFL owners might even consider buying into the league. You could see 2-4 owners get together to sponsor 1 team for there best players who didn’t make the final NFL roster. Sort of like what the MLB does with their minor league teams.

    It is an interesting thought.

  12. @mogogo1 says:
    May 8, 2020 at 10:43 am
    “Closing up shop guarantees they’ll get no serious offers. If they’d declared hiatus until next season they’d maybe have a shot provided they could show some promising financials but as of now you’d be buying nothing but a name that is associated with failure. There are no employees, no player or coaches, everybody has been laid off, all agreements with stadiums, etc, are null and void, so you’d be restarting totally from scratch.”

    You obviously do not understand what a Chapter 11 bankrupcy is – the intent is to not close up shop but to reorganize, which means the XFL debts will be settled at a substantially reduced burden, they can renegotiate contracts, they can get out from under potential employee benefit financial loads. In a Chapter 11 their vendors and other contracted services (e.g. stadium rentals, etc.) aren’t legally allowed to just walk away. Someone will be assigned, most likely an attorney specializing in bankrupcy, to oversee the settlement of debts and distribution of any cash, renegotiate contracts at a more favorable cost (although payment terms may very well be more stringent) and to guard against arrangements that will overburden the organizaiton as it exits bankrupcy. This form of bankrupcy (apposed to a Chapter 7) is not a liquidation bankrupcy, wherein they would be closing up shop. They are going to propose to a bankrupcy court a plan to re-engage the business model at a future date with adjustments that theoritically should provide for a better chance at success. Trying to declare a “hiatus” would provide the league absolutely no protection and they would have to fully meet their debt obligations.

  13. If the NFL buys the XFL, then they could hold it ransom against St. Louis over their lawsuit against the NFL over the 2016 relocation… maybe.

  14. “Trying to declare a “hiatus” would provide the league absolutely no protection and they would have to fully meet their debt obligations.”
    ______________

    But that’s the entire point: They really shouldn’t have had many obligations without games being played. It was being run on the cheap to begin with and most expenses went away without games being played. Certainly no costs that McMahon and the WWE couldn’t have covered until next season if they’d liked what they’d been seeing prior to the shutdown. He swore up and down he’d be in it for the long term this time yet closed up shop after 5 games. Guaranteed he wasn’t liking the financials or he’d have hung in there until next year. The PR hit for a league already associated with failure to declare bankruptcy yet again is not something that can be easily overcome. Declaring bankruptcy destroys any shot of that league resurfacing again.

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