The XFL had closed operations, and now the XFL has filed for bankruptcy.
The fledgling professional football league called off its season after the fifth week, due to the novel coronavirus pandemic and laid off almost its entire staff. Now, it has filed for Chapter 11, listing assets and liabilities from $10 million to $50 million.
WWE CEO Vince McMahon personally owned 76.5 percent of the XFL’s Class B stock and 100 percent of its Class A stock and WWE itself owned 23.5 percent in Class B stock.
The league owes, among others, the St. Louis Sports commission $1.6 million, coach Bob Stoops $1.083 million, coach Marc Trestman $777,777 and Ticketmaster $655,148.
XFL COO Jeffrey Pollack told employees that there were no plans for the league to be back in 2021. The league is for sale as part of the bankruptcy process, according to Sports Business Journal.
McMahon had previously launched the XFL in 2001, but it folded after just one year. This try featured some very exciting contests over the first five weeks, but the league was killed by the pandemic.
The Guy Report 