Dwayne "The Rock" Johnson, his ex-wife, and Gerry, Cardinale (RedBird Capital partner) has come together to buy the XFL from Vince McMahon. The XFL was headed to the auction block, with $10 million to $50 million in debt, but The Rock and his team swooped in to save the league from being auctioned off to the highest bidder. The Rock and his partners purchased the league for $15 million. This is great news, as the league was gaining traction and notoriety before the COVID-19 pandemic hit.
The Rock has a history with football, playing at the University of Miami back in the day, when they were one of the top collegiate franchises in the nation. Johnson won a championship while being a member of the team. The Rock is buying the league from his former employer, McMahon, who is the CEO of the WWE. The Rock was a wrestler for 16 years, making his final appearance in a match in 2019.
This seems like a full circle moment for Johnson, as he was the star of the HBO show, Ballers where he began as an agent for football players, but then later tried to acquire a professional football franchise. However, his real life is much better; he is getting an entire league this time, in control of 8 teams as the owner of the league. If everything goes smoothly with the sale, it will be completed by August 21st.
The Rock said, "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. With pride and gratitude for all that I’ve built with my own two hands, I plan to apply these callouses to the XFL, and look forward to creating something special for the players, fans, and everyone involved for the love of football."
Huge Congrats to The Rock and his ownership team. Looking forward to seeing the XFL re-launch in the future.