The XFL had “no other qualified bids,” beyond Dwayne “The Rock” Johnson’s

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So how did Dwayne “The Rock” Johnson and his partners finagle the XFL’s carcass for only $15 million? Reportedly, there were no other viable buyers.

Daniel Kaplan of TheAthletic.com reports that the court presiding over the XFL’s bankruptcy case wrote Monday that “no other Qualified Bids were received by the Bid Deadline.” Only two bids arrived before last week’s deadline for making offers, and only Johnson’s passed muster.

That explains the reason for the cancellation of Monday’s auction; there would have been only one bidder.

Kaplan reports that the committee of “unsecured creditors” have objected to the proposed sale, arguing that the terms are “generally inconsistent with market standards” and that the sales agreement includes the ability to claw back certain payments made in the 90-day and one-year periods, allegedly exceeding $60 million.

The purchase of the league requires court approval. Absent another entity offering more money for the XFL than The Rock and his partners, it’s hard to call the deal anything other than what it is: The best one available.

12 responses to “The XFL had “no other qualified bids,” beyond Dwayne “The Rock” Johnson’s

  1. Lol. What a fool.

    XFL might be the only brand in History to fold TWICE and get another shot!

  2. I don’t care if the XFL survives (well I do entertainment wise) but to the new owners who have the funds of 15 million, it’s a gamble they can afford. Big resist high reward at that price…

  3. First order of business, Vince McMahon executes his WWE clause with all of the Rock’s future business deals taking 20% just like Lorne Michaels does even after actors leave SNL.

  4. You can never have too much football. The sport just draws an audience. If it’s a decent product, people will watch. You’ll make a ton of money, especially at that price. Some people have tried new leagues in the last couple years, but they had no idea what they were doing. Hopefully Johnson succeeds.

  5. The XFL failed the second go around because of a certain virus. All sporting events shut down across the world. It’s worth giving them another shot due to circumstances beyond their control

  6. Must be nice to just say bye to 15 million. When will these guys learn, you can’t compete with the NFL. The NFL is a $9 billion annual business and if you are going to compete you better come in with $10 billion. If not, all you are going to get are NFL rejects like the XFL did and no one loves football enough to watch mediocre competition.

  7. I’ve always liked The Rock. I hope this works out for him and the league. But its gonna need more money than The Rock has to make this league succeed.

  8. Mixed Martial Football? Rhino horns on their helmets? Chainmail pads? Super Gorefest Bowl? Stay tuned.

  9. “and that the sales agreement includes the ability to claw back certain payments made in the 90-day and one-year periods, allegedly exceeding $60 million.”

    $15mill + $20 mill to lawyers to sue and get back $60 = $25mill profit?

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