XFL files bankruptcy, WWE listed as part owner, XFL statement

By Jason Powell, ProWrestling.net Editor (@prowrestlingnet)

The XFL filed for bankruptcy on Monday. “Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis,” reads an XFL statement published by TMZ.com. “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.”

Powell’s POV: Meanwhile, sports business analyst Darren Rovell and other sports media members report that the filing reveals that WWE owned 23.5 percent of the XFL’s Class B stock while Vince McMahon owned the remainder of the folded league. WWE’s ownership is an interesting development given that WWE’s Interim CFO Frank Riddick stated back in February during a WWE conference call that there were no plans for the XFL to be part of WWE’s investments. Here’s hoping that someone in the financial world will seek clarification on this matter when WWE releases its quarterly financial report and holds another conference call on April 23.

Readers Comments (1)

  1. Write This Way April 13, 2020 @ 2:32 pm

    The only good thing about Darren Rovell is the way so many burn that bottom feeding toolbag, much like the DC Defenders did this weekend.

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