{"id":72033,"date":"2020-04-13T14:05:36","date_gmt":"2020-04-13T19:05:36","guid":{"rendered":"https:\/\/prowrestling.net\/site\/?p=72033"},"modified":"2020-04-13T14:05:36","modified_gmt":"2020-04-13T19:05:36","slug":"xfl-files-bankruptcy-wwe-listed-as-part-owner-xfl-statement","status":"publish","type":"post","link":"https:\/\/prowrestling.net\/site\/2020\/04\/13\/xfl-files-bankruptcy-wwe-listed-as-part-owner-xfl-statement\/","title":{"rendered":"XFL files bankruptcy, WWE listed as part owner, XFL statement"},"content":{"rendered":"<div id=\"prowr-805633616\" class=\"prowr-apple-podcast-button-link prowr-entity-placement\" style=\"margin-left: auto;margin-right: auto;text-align: center;\"><a href=\"https:\/\/podcasts.apple.com\/us\/podcast\/pro-wrestling-boom-podcast\/id1365989370\" aria-label=\"SUBSCRIBE IN APPLE PODCASTS\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/prowrestling.net\/site\/wp-content\/uploads\/advanced_ads\/2019\/07\/Logo2019_ApplePodcasts_320wide.png?fit=320%2C78&#038;ssl=1\" alt=\"SUBSCRIBE IN APPLE PODCASTS\"  srcset=\"https:\/\/i0.wp.com\/prowrestling.net\/site\/wp-content\/uploads\/advanced_ads\/2019\/07\/Logo2019_ApplePodcasts_320wide.png?w=320&ssl=1 320w, https:\/\/i0.wp.com\/prowrestling.net\/site\/wp-content\/uploads\/advanced_ads\/2019\/07\/Logo2019_ApplePodcasts_320wide.png?resize=300%2C73&ssl=1 300w\" sizes=\"(max-width: 320px) 100vw, 320px\" width=\"320\" height=\"78\"   \/><\/a><\/div><p><b>By Jason Powell<\/b>, ProWrestling.net Editor (<a href=\"https:\/\/twitter.com\/prowrestlingnet\" target=\"_blank\" rel=\"noopener noreferrer\">@prowrestlingnet<\/a>)<\/p>\n<p>The XFL filed for bankruptcy on Monday. &#8220;Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis,&#8221; reads an XFL statement published by <a href=\"https:\/\/www.tmz.com\/2020\/04\/13\/xfl-bankruptcy-league-fold-millions-lay-offs\/\" target=\"_blank\" rel=\"noopener noreferrer\">TMZ.com<\/a>. &#8220;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.&#8221;<\/p>\n<p><span style=\"text-decoration: underline;\"><strong>Powell&#8217;s POV:<\/strong><\/span> 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&#8217;s Class B stock while Vince McMahon owned the remainder of the folded league. WWE&#8217;s ownership is an interesting development given that WWE&#8217;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&#8217;s investments. Here&#8217;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.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">BREAKING: XFL files for bankruptcy. N bankruptcy filing reveals that WWE actually does own part of league (23.5% of Class B stock). Among the creditors \u2014 Bob Stoops ($1M), Marc Trestman ($777K), Ticketmaster ($655K), other coaches ($583K) and MetLife Stadium lease ($368K). <a href=\"https:\/\/t.co\/PRj3CXAnkv\">pic.twitter.com\/PRj3CXAnkv<\/a><\/p>\n<p>\u2014 Darren Rovell (@darrenrovell) <a href=\"https:\/\/twitter.com\/darrenrovell\/status\/1249766388035616771?ref_src=twsrc%5Etfw\">April 13, 2020<\/a><\/p><\/blockquote>\n<p><script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Vince McMahon had 100 pct of the XFL&#8217;s Class A shares. He also had 76.5% of the Class B shares, with WWE holding the rest.<\/p>\n<p>\u2014 Eric Fisher (@EricFisherSBG) <a href=\"https:\/\/twitter.com\/EricFisherSBG\/status\/1249764979420672005?ref_src=twsrc%5Etfw\">April 13, 2020<\/a><\/p><\/blockquote>\n<p><script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<div id=\"prowr-2608696569\" class=\"prowr-after-content prowr-entity-placement\"><a class=\"spreaker-player\" href=\"https:\/\/www.spreaker.com\/show\/pwboom\" data-resource=\"show_id=3275525\" data-theme=\"light\" data-playlist=\"show\" data-width=\"100%\" data-height=\"340px\">Listen to \"Pro Wrestling Boom Podcast\" on Spreaker.<\/a><script async src=\"https:\/\/widget.spreaker.com\/widgets.js\"><\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>By Jason Powell, ProWrestling.net Editor&#8230;<\/p>\n","protected":false},"author":5,"featured_media":34900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"episode_type":"","audio_file":"","podmotor_file_id":"","podmotor_episode_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7,2,4],"tags":[3301,128,56,101,1296],"class_list":["post-72033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-misc_news","category-newsticker","category-wwe_news","tag-frank-riddick","tag-pro-wrestling","tag-vince-mcmahon","tag-wwe","tag-xfl"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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