Dwayne Johnson Buys XFL for $15 Million With Redbird Capital as Partner
Dwayne “The Rock” Johnson, who thrust himself into national awareness with a series of peoples elbows, slick microphone work, and becoming the WWE Peoples Champion, is now not only the World’s Biggest Movie Star but the owner of the XFL.
The XFL has been sold to a group that includes former WWE star Dwayne “The Rock’’ Johnson.
Johnson, an actor, and producer who played college football at the University of Miami, teamed up with Gerry Cardinale’s RedBird Capital to buy the league just hours before a planned auction was scheduled to begin.
They paid $15 million, splitting it evenly.
The XFL filed for bankruptcy in April after the COVID-19 pandemic prompted the cancellation of its inaugural season, which got off to a promising start in terms of a television audience.
The league had a broadcast agreement with Fox.
With the leagues promising start and live sports able to deliver rating – there might be a large market for them to choose from TV networks to online streaming platforms to carry future XFL games.
RedBird Capital recently bought French soccer team Toulouse and alongside Oakland A’s executive Billy Beane, have an acquisition company that focuses on buying companies in sports, media, and data analytics.
The XFL drew more than 3 million viewers in its first week. The audience was about half that number in its fifth and final week before the shutdown.