The XFL, a twice-unsuccessful professional football alternative to the NFL fronted by WWE chief Vince McMahon, has been sold to Dany Garcia, Dwayne Johnson and RedBird Capital Partners for $15 mill…
In announcing the deal, the projected new owners said they have secured “the ability to option live entertainment intellectual property for further expansion across sports, live events and original entertainment programming.”The XFL, which had two single-season attempts to go up against the NFL, one in 2000 and the second this year, was fronted by McMahon and the WWE, which owned a 23.5% stake in the league.
“For Dwayne, Gerry and myself, this property represents an incredible opportunity. It is the confluence of great passion, tradition and possibility” Garcia said. “Sports and entertainment are the foundations of the businesses I have built. Melding our expertise combined with our commitment to deliver exciting and inspiring unique content, has us all focused on developing the XFL brand into a multi-media experience that our athletes, partners and fans will proudly embrace and love.
Jeffrey Pollack, president and COO of the XFL, called it a “Hollywood ending” to the process of seeking a sale. Garcia and Johnson are co-founders of Seven Bucks Companies, a multi-platform enterprise pioneering original content for television, film, emerging technologies and digital networks.
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