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The Rock Buys the XFL  Rate Topic 
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 Posted: Mon Aug 3rd, 2020 02:27 pm
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srossi

 

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PWInsider:

If you thought Vince McMahon resurrecting the XFL was wild, take a moment.


Dwayne "The Rock" Johnson and partners just bought the resurrected football league for $15 million.


Just hours before an auction for the league was scheduled to commence, Johnson, his long-time business partner Dany Garcia and Gerry Cardinale’s RedBird Capital swooped in and purchased the league, according to Sportico.com.


In 2018, McMahon launched a new company, Alpha Entertainment, to pursue a number of potential entertainment endeavors as well as a potental relaunch of the XFL.   The original XFL launched in 2001 as a joint venture between NBC and WWE, existing for one season before shutting down.  This version of the XFL was birthed coming out of an ESPN 30For30 documentary about the rise and fall of the 2001 failed version of the league, This Was The XFL.


That documentary included footage of McMahon and NBC Executive Dick Ebersol discussing their memories of their partnership in the league over dinner and the idea of launching it today.  During those discussions, McMahon admitted that he had "recently" had talks with Dallas Cowboys owner Jerry Jones about the idea of a "minor league NFL."   The Director of that documentary was Charlie Ebersol, Dick's son, who later approached McMahon with the idea of purchasing the XFL rights and resurrecting the league. 


Instead, McMahon did it himself while Ebersol went on to form the Alliance of American Football (AAF), which launched after the 2019 Super Bowl and folded within months.   The AAF launched in February 2019, one year before the XFL's planned 2020 kickoff.    Despite having a broadcast agreement with CBS, the AAF League almost immediately ran into cash flow difficulties, requiring a new $250 million investment, which made Tom Dundon the new majority owner.  Dundon later made the decision to shut down the league, leaving the XFL's goal of becoming a new alternative football league unencumbered while also spotlighting the dangers of such a business launch.


As it turned out, XFL 2.0 shut down just weeks into its first relaunched season due to COVID-19.  Although initially, the XFL promised to return next year, TV deals with ABC/ESPN and FOX in hand, it instead went into a quick bankruptcy, issuing the following statement at the time:


"The XFL quickly captured the hearts and imaginations of millions of people who love football.  Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis.  Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code.  This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football."



Right before the bankruptcy, the league fired its Commissioner, Oliver Luck, who responded by filing a lawsuit against Vince McMahon over his departure.  That lawsuit is still making its way through the court system.


In the meantime, Dwayne Johnson, who as The Rock appeared before the initial version of the XFL cutting promos to put the league over, is now in charge of the entire resurrected version.  With his star-power and clout in Hollywood, it will be interesting to see what shape the future of the XFL takes...but one thing is for certain, at some point, in some form, the XFL IS coming back, yet again....

Last edited on Mon Aug 3rd, 2020 02:27 pm by srossi



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 Posted: Mon Aug 3rd, 2020 02:40 pm
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brodiescomics



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https://dailysnark.com/2020/08/03/breaking-dwayne-the-rock-johnson-buys-the-xfl-for-15-million/?fbclid=IwAR2ubPA9pNCMl9MrWkRAHu_Gy5lkAZHmtiXpa4M7u3zsaajCw8VmZ0fM08w


The XFL has a new owner, and it’s staying in the realm of wrestling. WWE Legend and former college football player Dwayne Johnson, better known as “The Rock”, has reportedly purchased the XFL from  Vince McMahon’s XFL league for $15 million.

The league was resurrected by McMahon in 2019 in order to serve as a secondary professional football league to the NFL.

It was set to hit the auction block on Monday, but not before The Rock and his investment group, RedBird, came in and purchased it this weekend. They are 50/50 partners.



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 Posted: Mon Aug 3rd, 2020 03:13 pm
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Kriss
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A fool and his money...



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 Posted: Mon Aug 3rd, 2020 03:15 pm
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krazykid18
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What is the point of this deal, they can get a better return giving me that 15 mil??


There has to be more because it makes no sense

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 Posted: Mon Aug 3rd, 2020 03:36 pm
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Blazer



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Paid $14,999,999 more than what the USFL was worth.



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 Posted: Mon Aug 3rd, 2020 03:46 pm
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Heenan Fan
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Blazer wrote: Paid $14,999,999 more than what the USFL was worth.This is a bad post, but I got the joke immediately Blazer. Shame on you. 

Good luck Rocky, and I mean that with all my heart!



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 Posted: Mon Aug 3rd, 2020 04:30 pm
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tamalie
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If Rock wanted to throw $15,000,000 down the drain, he should have given it to me. I could have burned through it nearly as quickly as this venture will, but he would suffer far less stress and fewer headaches in the process.

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 Posted: Mon Aug 3rd, 2020 08:26 pm
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martini
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The XFL, Impact Wrestling and cockroaches will survive armageddon.
All joking aside, I would not bet against The Rock in the entertainment industry. I believe he will monetize this. 

Last edited on Mon Aug 3rd, 2020 08:27 pm by martini



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 Posted: Tue Aug 4th, 2020 06:32 am
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Heenan Fan
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martini wrote: The XFL, Impact Wrestling and cockroaches will survive armageddon.
All joking aside, I would not bet against The Rock in the entertainment industry. I believe he will monetize this. 
You forgot Keith Richards.



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 Posted: Tue Aug 4th, 2020 07:19 am
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beejmi
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Would like to see it work

Who knows? This damn virus is going to be a problem (the NFL will learn like baseball is doing evidently)

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 Posted: Tue Aug 4th, 2020 01:15 pm
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srossi

 

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The Rock got this for pennies on the dollar and I bet he makes it work. That doesn't mean it's going to put the NFL out of business and do monster numbers, but I think it'll make him a profit. The Rock has had a ton of success with everything he does whereas Vince has failed at every single non-wrestling related project in his life.



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 Posted: Mon Aug 10th, 2020 07:14 am
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Blazer wrote: Paid $14,999,999 more than what the USFL was worth.
You're forgetting it was 3x damages.



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 Posted: Wed Aug 12th, 2020 08:11 pm
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srossi

 

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Fox Sports has already announced that they’re interested in airing the relaunched XFL. I imagine The Rock already had deals in place before he ever made a bid. I have a feeling he’s going to make a fortune on this since he’s really not putting that much in.



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 Posted: Wed Aug 12th, 2020 08:54 pm
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krazykid18
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srossi wrote: Fox Sports has already announced that they’re interested in airing the relaunched XFL. I imagine The Rock already had deals in place before he ever made a bid. I have a feeling he’s going to make a fortune on this since he’s really not putting that much in.
LOL your faith is beautiful, something about this deal makes no sense at all but i keep seeing people spin this has a no brainer and claim he is going to make a fortune...

Fox Sports will air it but they will not pay for it, they will just air it like how NBC and ESPN did for XFL this yr

Last edited on Wed Aug 12th, 2020 08:55 pm by krazykid18

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 Posted: Wed Aug 12th, 2020 09:11 pm
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I suppose he could make it pay for itself by discovering a couple of superstars and selling them to the NFL...



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