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.