Since ending his wrestling career, Johnson has become a movie star, including in the "Fast & Furious" and "Jumanji" franchises. The XFL declared Chapter 11 bankruptcy April 13 and has been seeking a buyer for the past three months, marketing itself as a made-for-TV product that could transition as early as 2021 to a … As if that wasn’t hard enough to digest, DJ left the league completely broke, with literally seven bucks in his pocket. The XFL declared Chapter 11 bankruptcy April 13 and has been seeking a buyer for the past three months, marketing itself as a made-for-TV product that could transition as early as 2021 to a bubble concept during the coronavirus pandemic. Spring football is a difficult challenge, as the Alliance of American Football found out in 2019, not lasting a full season, either. It has been really interesting to see that [in sports], when you create a bubble, your players are safe. Johnson, his ex-wife and business partner Dany Garcia, and RedBird Capital Partners have teamed up to purchase the rights to the XFL for $15 million, … ESPN has also confirmed the purchase. The Rock and his associates are now the proud new owners of the XFL, teasing wonderful things to come for the failed football league. The 48-year-old actor made the announcement on Twitter. The lawsuit was on hold awaiting the results of the bankruptcy. (0:41). Dwayne "The Rock" Johnson is now a part-owner of the XFL. Asked about hiring other executive-level leaders, she said: "We've been in close discussion with the current XFL management team. Closed Captioning and Described Video is available for many CBC shows offered on CBC Gem. Wenn Dwayne Johnson is to become a co-owner of the revamped XFL American football league after agreeing to a deal to buy out his old WWE boss Vince McMahon. “When the first XFL [launched], the quality of play, it wasn’t NFL and we’ve been so stuck on the NFL, you can’t get the NFL in any other league. Dwayne 'The Rock' Johnson and RedBird Capital have agreed a $15million deal to purchase the XFL. Dwayne 'The Rock' Johnson is part of the team buying the XFL Dwayne 'The Rock' Johnson is teaming up with his ex-wife and a top sports management company to buy the bankrupt X… Here's what we know and don't know about its future, Covered Vikings for Minneapolis Star Tribune, 1999-2008. Dwayne Johnson Celebrates XFL Purchase, Promises Something Special for Fans. DJ issued out a deep tweet, discussing the real reason behind the XFL purchase. Kevin Seifert ESPN Staff Writer A group including actor and former WWE star Dwayne Johnson has agreed to purchase the XFL for about $15 million, according to a news release issued Monday morning. The former WWE Champion has teamed up with Gerry Cardinale’s RedBird Capital to purchase the league for $15 million, according to a press release sent out Monday morning. When you don't, it's chaos. Most were laid off April 10. What will The Rock do with the XFL? "We're planning for it," said Garcia, the first female owner of a major American sports league. The XFL declared Chapter 11 bankruptcy on April 13 and has been seeking a buyer for the past … Johnson and RedBird Capital purchased the XFL for $15 million on Monday morning, hours before a bankruptcy auction of the failed football league was scheduled to begin, according to Sportico . Wrestling icon and Hollywood star Johnson bought the American football league in partnership with ex-wife Dany Garcia and investment firm RedBird Capital Partners. Actor and ex-WWE star Dwayne 'The Rock' Johnson bought the XFL with investor Gerry Cardinale for $15 million after the spring football league's bankruptcy The two reportedly split the purchase … Dwayne, Dany and Gerry are a dream team ownership group and the XFL is in the best possible hands going forward.” Johnson's ex-wife, Dany Garcia, is … Dwanye “The Rock” Johnson has teamed up with RedBird Capital and Dany Garcia to purchase the XFL. He is just one of several partners, so they should have the funds to see this through. The actor's purchase of the XFL League feels reminiscent of the show, "Ballers." The 48-year-old actor made the announcement on Twitter. DWAYNE ‘THE ROCK’ JOHNSON has bought the XFL from Vince McMahon in an £11.5million deal. The XFL has been sold to a group that includes former WWE star Dwayne “The Rock’’ Johnson, giving the bankrupt football league the kind of … RELATED - Dwayne Johnson And Dany Garcia Prove They Didn’t Just Buy The XFL For Show. Dwayne 'The Rock' Johnson and private equity firm RedBird Capital have agreed a $15million deal to purchase the XFL. The league suspended operations and laid off all of its employees on April 10 and filed for bankruptcy protection on April 13. As the highest paid actor in 2018, 2019 and 2020, Dwayne "The Rock" Johnson can buy just about anything he wants. https://www.cbr.com/xfl-dwayne-johnson-buying-from-vince-mcmahon Dwayne 'The Rock' Johnson and private equity firm RedBird Capital have agreed a $15million deal to purchase the XFL. Aug 5, 2020 Dwayne “The Rock” Johnson may have garnered the bulk of the headlines when his group purchased the XFL on Monday ahead of a scheduled bankruptcy auction … The transaction is subject to bankruptcy court approval at a hearing this Friday, August 7 and, assuming that closing conditions are satisfied, is expected to close on or shortly after August 21. Pseudonyms will no longer be permitted. As noted earlier this morning, Dwayne “The Rock” Johnson, his long-time business partner Dany Garcia, and Cardinale’s RedBird Capital have purchased the XFL. With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL. The entity that purchased the XFL is Alpha Acquico, LLC, a joint … CAA Sports’ executive search team, led by Joe Becher, is running the search. There is a team there.". It's exciting to see Dwayne Johnson and a group of investors buy the bankrupt XFL. Vince McMahon will not be resurrecting the XFL, but rather, Dwayne “The Rock” Johnson and partners are the new owners.. Dwayne Johnson @ … Former college football player Dwayne “The Rock” Johnson is stepping into the ring of pro sports ownership with a little help from an investment firm that already has ties to the NFL and Ligue 2. Dwayne 'The Rock' Johnson has revealed the his deal to buy the XFL for $15million has 'officially closed' and 'the keys' have been handed over. But the eight teams suspended play after five weeks. Confirming that the @xfl2020 has been purchased by a group that includes Dwayne Johnson, aka The Rock, for $15 million. A previous version of the XFL also played one season in 2001. XFL reaches multi-year agreement with ESPN, Fox, Rocky Johnson remembered by son as a wrestler who shattered racial barriers, CBC's Journalistic Standards and Practices. We are a league, because of the number of teams we have, that actually can create a bubble environment. It had projected $46 million in gross revenues for the 10-game season, each data point exceeding internal expectations, according to sources. The announcement was made earlier today, with the … McMahon considered bidding on the XFL himself early in the bankruptcy process but ultimately decided against it. Dwayne “The Rock” Johnson is splurging $AUD21 million to buy the bankrupt XFL from WWE supremo Vince McMahon. "While it's not 100% just turning the lights on, there is still a tremendous amount of infrastructure and relationships that you can actually call people back, pull people back. Former wrestling star Dwayne "The Rock" Johnson says he has acquired the XFL. Former Buffalo Bills and Sabres President Russ Brandon is serving as an adviser to one of the new owners of the XFL, Sports Business Journal reported Thursday. Dwayne ‘The Rock’ Johnson buys the XFL in $21 million deal. Dwayne ‘The Rock’ Johnson has revealed that his deal to buy the XFL for $15million has ‘officially closed’ and ‘the keys’ have now been handed over. Garcia will have an executive position with the XFL and said that both she and Johnson will have a hands-on approach to running the league. Dwayne Johnson Buys The XFL For $15 Million And Is Handed ‘The Keys’ The Rock just bought a football league. The deal comes mere hours before the XLF was set to go to a … "We're doing all the steps that need to happen for the execution of that. Dwayne Johnson, a former pro wrestler who has become a major film and TV star, is buying the XFL, according to Scott Soshnick of Sportico.com. 34 responses to “ Dwayne Johnson, RedBird Capital buy XFL for $15 million ” thetooloftools says: August 3, 2020 at 10:02 am. Dwayne 'The Rock' Johnson Buys XFL for $15 Million. The XFL has been sold to an investment group that includes actor and retired professional wrestler Dwayne 'The Rock' Johnson. In a statement, Johnson, 48, provided a glimpse of the McMahon-like flair he could bring to the league. Dwayne 'The Rock' Johnson has revealed the his deal to buy the XFL for $15million has 'officially closed' and 'the keys' have been handed over. Dwayne "The Rock" Johnson to Purchase the XFL: Report. Actor and producer Dwayne Johnson, Dany Garcia and Gerry Cardinale's RedBird Capital have agreed to buy the XFL, the bankrupt football league founded by WWE CEO Vince McMahon. After all, the league showed some promise in its initial season from its … Chargers sign former XFL tight end Parham Jr. XFL files for bankruptcy after suspending league, Is this it for the XFL? McMahon fired XFL commissioner Oliver Luck on April 9, and Luck responded by suing McMahon for wrongful termination and is seeking $23.8 million. "The acquisition of the XFL with my talented partners, Dany Garcia and Gerry Cardinale, is an investment for me that's rooted deeply in two things -- my passion for the game and my desire to always take care of the fans," said Johnson, who played football at the University of Miami from 1990 to 1994. XFL president and chief operating officer Jeffrey Pollack is among the league's few active employees. The sale must be approved by a bankruptcy judge at a hearing Friday. Dwayne Johnson and his investors bought the XFL for $15 million on Monday from WWE boss Vince McMahon after the league had filed for bankruptcy as the season was cancelled amidst the COVID-19 pandemic. The XFL has been sold to a group that includes former WWE star Dwayne “The Rock’’ Johnson, giving the bankrupt football league the kind of star power that may draw even non-sports fans. The Rock and Partners Buy the XFL for $15M After Bankruptcy. A group including actor and former WWE star Dwayne Johnson has agreed to purchase the XFL for about $15 million, according to a news release issued Monday morning. Johnson, an actor and producer who played college football at the University of Miami, teamed up with Gerry Cardinale’s RedBird Capital to buy the league just hours before a … Former wrestling star Dwayne "The Rock" Johnson says he has acquired the XFL. Dwayne Johnson is to become a co-owner of the revamped XFL American football league after agreeing to a deal to buy out his old WWE boss Vince McMahon.. The XFL had eight franchises and played five games out of a planned 10-game schedule before cancelling the remainder of its season in March because of the COVID-19 pandemic. The script truly sells itself in terms of his XFL purchase, here’s a guy that never made it to the NFL and got cut from the CFL. The XFL assets will be sold to Garcia, Johnson and RedBird for approximately $15 million, in accordance with the terms and conditions of the asset purchase agreement. The Deeper Reason For The Purchase. Per the report, Johnson teamed up with RedBird Capital and pressed the “buy it now” button, making the purchase only … After filing for bankruptcy, the XFL has found new owners in Dwayne "The Rock" Johnson, Dany Garcia and Gerry Cardinale's RedBird Capital, who have agreed to purchase the Vince McMahon-founded football league for $15 million. (0:41), Rock-solid buy: Ex-WWE star, group to own XFL, McMahon says he won't try to buy back XFL, In filing, McMahon claims Luck fired 'for cause', Source: Chargers hire Pep Hamilton as QB coach, Dwayne 'The Rock' Johnson, wife, daughters COVID-19 positive, Johnson announces, Matt Rhule gets 'juice' flowing for Panthers with high-energy practices, Rock on: XFL sale to Johnson's group approved, Will there be an XFL season in 2021? The actor and former wrestling star is part of a group of investors who have bought the XFL after the spring football league went bankrupt in its return season amid the coronavirus pandemic. The actor revealed today that the … To encourage thoughtful and respectful conversations, first and last names will appear with each submission to CBC/Radio-Canada's online communities (except in children and youth-oriented communities). But XFL owner Vince McMahon had been a determined aspirant, investing $200 million in the league's second incarnation, one that promised to "reimagine" the game. But we're also being mindful to what has actually been successful. Dwayne 'The Rock' Johnson and Dany Garcia Purchase the XFL. Johnson and his investors -- who include his business partner Dany Garcia along with RedBird Capital Partners -- are making plans to play next season, Garcia told ESPN. Former wrestler and Hollywood actor Dwayne Johnson teamed up with ex-wife Dany Garcia and investment company RedBird Capital Partners to buy the XFL … In November, it invested $125 million in a new company that secures commercial rights for the NFL. ", "There are a lot of excellent people in that team," Garcia said. ", Cardinale is the managing partner and CEO of RedBird, which manages more than $4 billion in assets. Actor and producer Dwayne Johnson, Dany Garcia and Gerry Cardinale's RedBird Capital have agreed to buy the XFL, the bankrupt football league founded by WWE CEO Vince McMahon. Dwayne 'The Rock' Johnson, Dany Garcia Team Up with Investor Group to Buy the XFL for $15 Million this link is to an external site that may or may not meet accessibility guidelines. "The Rock bought the XFL for $15 million — which is valued as highly as $50 million — with his ex-wife as part-owner and just hours before the league hit auction. The sale auction … in Pop Culture Dwayne Johnson, in a surprise move, has purchased the XFL along with his business partners Dany Garcia and RedBird Capital. The Hollywood actor and former WWE superstar, who played college football for the Miami Hurricanes before making his name in wrestling, teamed up with the private equity firm to buy the league hours before a scheduled auction. A variety of newsletters you'll love, delivered straight to you. Dwayne The Rock Johnson bought the XFL in August for $15 million, a move former NFL linebacker Channing Crowder categorized as a giant waste of money. ‘The deal is official closed and … May as well bought the Titanic before it’s maiden voyage. August 3, 2020 Vince McMahon will not be resurrecting the XFL, but rather, Dwayne “ The Rock ” Johnson and partners are the new owners. RELATED - Here’s Why … Add some “good” to your morning and evening. The XFL has been sold to a group that includes former WWE star Dwayne “ The Rock ’’ Johnson, giving the bankrupt football league the kind of star … Dwayne Johnson XFL purchase objected by unsecured creditors: Reports. Hollywood star Dwayne “The Rock” Johnson is a new part-owner of the XFL as the league attempts another comeback. The 48-year-old actor and ex-CFL defensive lineman made the announcement on Twitter. By submitting a comment, you accept that CBC has the right to reproduce and publish that comment in whole or in part, in any manner CBC chooses. The Rock and his associates are now the proud new owners of the XFL, teasing wonderful things to … The Rock and Partners Buy the XFL for $15M After Bankruptcy. Dwayne "The Rock" Johnson was among a group of winning bidders to buy XFL parent company Alpha Entertainment LLC for $15 million, per a Monday press release. Box 500 Station A Toronto, ON Canada, M5W 1E6. https://www.insidehook.com/.../dwayne-the-rock-johnson-buys-xfl-15-million A group including actor and former WWE star Dwayne Johnson has agreed to purchase the XFL for about $15 million, according to a news release issued Monday morning. An investment group including actor Dwayne “The Rock” Johnson announced plans Monday to buy the XFL for $15 million months after the … We saw the work that they were doing for this year, and there was some excellent, excellent work. Comments are welcome while open. Dwayne 'The Rock' Johnson and Dany Garcia Purchase the XFL The XFL has been sold to an investment group that includes actor and retired professional wrestler … The league averaged 1.9 million television viewers per game and generated nearly $20 million in gross revenues in 2020, according to court filings. ", In a statement, Pollack called the pending sale "a Hollywood ending" and said Johnson's investors are "a dream team ownership group and the XFL is in the best possible hands going forward. In Dwayne Johnson’s case his net worth is valued at around $320 million for 2020. Comments on this story are moderated according to our Submission Guidelines. The WWE chief owned the American football league which he relaunched this year but then went int… Dwayne “The Rock” Johnson is excited about his next move after splashing $21m to buy the XFL from his former WWE boss Vince McMahon. Dany Garcia Talks XFL Purchase, Challenges Ahead, Being the First Woman to Own Stake in a Pro Sports League . Dwayne “The Rock” Johnson is one of the owners of the latest edition of the XFL. Monday afternoon, the bankruptcy court's committee of unsecured creditors filed an objection based on certain assets included in the sale. We reserve the right to close comments at any time. The question now is will Alpha Acquico have to capital to fund a pro football league. Dwayne Johnson attends the HBO "Ballers" premiere in New York, July 14, 2016. Johnson, who hails from Hayward, Calif., was a defensive tackle for the University of Miami from 1991 to 1994, winning a national title his first year. Please note that CBC does not endorse the opinions expressed in comments. Close comments at any time shows offered on CBC Gem comes after the Rock for. Redbird Capital Partners ], when you create a bubble, your players safe. Just bought a dwayne johnson xfl purchase league in partnership with ex-wife Dany Garcia and investment RedBird... Hollywood star Johnson bought the Titanic before it ’ s case his worth... In gross revenues for the 10-game season, each data point exceeding internal expectations, to! 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