Vince McMahon won’t be trying to buy back the XFL. But someone else apparently will.
Daniel Kaplan of TheAthletic.com reports that “dozens of bidders” are reviewing the league’s financial information, with interest in buying the XFL and relaunching it next February.
McMahon himself will not be a bidder; he confirmed this during deposition testimony given last week.
“I don’t know why that’s out there, making me out to be the bad guy, [that] I’m going to buy the XFL back for pennies on the dollar, basically,” McMahon said, via Kaplan. “That helped me move into the direction of I’m not going to be a bidder, not going to have anything to do with it. I do hope that someone will pay a lot of money for it, and I do hope that it will survive.”
In a court filing, McMahon created the impression that this will indeed happen.
“Based on preliminary feedback, there is a robust market for the [XFL]’s assets, including a number of potentially interested private equity firms and other strategic and financial sponsors,” McMahon said, via his lawyers.
The XFL started strong with relatively high TV ratings, even though they dropped each week and the league never had to compete with NCAA conference tournaments or March Madness. With a growing thirst for live sports and the possibility that legalized sports wagering will explode in the aftermath of the pandemic, the XFL could indeed survive — and perhaps thrive.