Vince McMahon’s 2020 relaunch of the XFL did not turn out as he planned. The novel coronavirus caused a stop for games as live fans could not attend. Is there a chance that McMahon isn’t done with his football dreams?
The Atlantic reports that Vince McMahon might be “trying to buy his own XFL out of Delaware bankruptcy court.” Some of the XFL’s creditors apparently believe that is the case.
Jeffrey Pollack, the XFL’s President has apparently called venues in St. Louis and Seattle asking about reinstating lease agreements. The XFL is still largely owned by Vince McMahon through his Alpha Entertainment entity. Around 20% of the XFL is owned by WWE.
The XFL filed for bankruptcy on April 13th, three days after shutting down the league and letting their employees go. It was said that they did not have the financial “insulation” to protect against the COVID-19 pandemic.
The Atlantic’s source is reportedly a former team official and they passed on the tip about St. Louis and Seattle’s recent dealings. The thinking seems to be that Vince McMahon could have pulled off a “cutthroat finance ploy” during a pandemic.
This is a very interesting situation and we will provide more coverage as information is made known right here at Ringside News.