Dwayne Johnson Obtains Ownership of the XFL with Ex-wife Dany Garcia –– Learn about His New Investment
Actor and former wrestler Dwayne Johnson has teamed up with his ex-wife, Dany Garcia, and a sports management company to buy the XFL football league for $15 million.
There are new times ahead for the XFL Football League following the announcement that former WWE Wrestling star Dwayne Johnson and his partners are buying the franchise for $15 million.
Dwayne Johnson, who is now one of Hollywood's famous movie figures, broke the news on his Twitter page, saying that he and his ex-wife came together to purchase the XFL. He tweeted:
"With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL...
Johnson further said that he would apply the same ethics by which he built his career to the XFL brand, adding that he is excited to create something special for the fans.
Johnson and his partners are purchasing the XFL from Alpha Entertainment, a privately owned company founded by Vince McMahon, the chairman and CEO of the WWE.
The XFL was founded as an alternative to the NFL back in 2000 by WWE.
The XFL entered into hard times in April when Alpha Entertainment filed for bankruptcy. This came after the season ended prematurely because of the COVID-19 pandemic.
With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL.— Dwayne Johnson (@TheRock) August 3, 2020
With gratitude & passion I’ve built a career with my own two hands and will apply these callouses to our @xfl2020 brand.
Excited to create something special for the fans! #XFL #fullcircle pic.twitter.com/LprJ6HjglD
Johnson stated that his decision to be a member of the group by buying the XFL was because of his passion for the game and his desire to ensure that fans are always taken care of.
Buying a stake in the XFL also sees Johnson returning to the sport, having played football at the University of Miami before he became a professional wrestler for eight years, with the name "The Rock."
The actor and his partners would have to wait for the approval of their takeover by the Delaware bankruptcy court with a hearing scheduled to hold on August 7. If the court approves the deal, it would be completed by the end of the month.
In a statement confirming that Johnson and co. had purchased the XFL, Jeffrey Pollack, who is the XFL president, said that it marked a Hollywood ending to the sale process and a new beginning for the franchise.
Fans would be hoping that this takeover would turn around the XFL fortunes after its 2020 relaunch by Vince McMahon failed to bring the desired results, with the pandemic playing a major hand.
The XFL was founded as an alternative to the NFL back in 2000 by WWE. However, it ended playing only one season in 2001. A new chapter for the franchise beckons and hope remains that it would lead to excellent results
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