Bankruptcy court expected to green light XFL purchase on August 7
The XFL purchase will be decided by the court in a session on August 7 and if a green light is given for the sale to proceed, it will become in effect on August 21.
At this point, there seems to be nothing that suggests that the court will turn down the transaction, which is valued at just $15 million, a far cry from the $200 million that Vince McMahon through his Alpha Entertainment LLC company invested in.
The sale of the XFL was announced yesterday just hours before assets of the league were set to go in a bankruptcy auction.
The new owners are Dwayne “The Rock Johnson, his business partner Dany Garcia, and Gerry Cardinale, Founder and Managing Partner of RedBird Capital Partners. Johnson and Garcia will each have 25% while Cardinale will have the other 50% in the league.