The XFL was hit hard by the COVID-19 pandemic, but the league isn’t going down without a fight.
After filing for Chapter 11 bankruptcy and laying off all its employees last month, the XFL is trying to get back into the game and looking for a new owner, according to Axios.
It may be a tough sell, but the league will try to tout that it made $46 million in revenue during its abbreviated season, had an average attendance of 20,000 at games and also drew in 1.9 million average television viewers each week.
“There are lots of people who are very rich but not rich enough to own an NFL team, so maybe someone will see this as the next best thing at a bargain price,” one investor who is not considering an XFL bid told Axios.
Though it may not affect a potential sale, it is also worth noting that former XFL commissioner Oliver Luck filed a wrongful termination suit against Vince McMahon, the chairman and owner of the WWE and owner of Alpha Entertainment, the XFL’s parent company.
In Alpha’s bankruptcy filing for the XFL, the company claimed the league had liabilities of $10 million to $50 million and up to 5,000 creditors.
The XFL played just five weeks of its season before it folded in the midst of the coronavirus outbreak.
Subscribe here for our free daily newsletter.
Thanks for reading InsideHook. Sign up for our daily newsletter and be in the know.
