This could be the ultimate swerve in the football world. After having the XFL placed in bankruptcy, Vince McMahon could be looking to buy back his baby … at pennies on the dollar.
The Athletic is reporting the WWE boss is looking to purchase his fledgling league out of bankruptcy. McMahon is looking to buy back the XFL at a “fire-sale price,” says the report.
Why?
… in a series of court filings, the XFL’s unsecured creditors expressed concern that the league declaring bankruptcy could’ve been a “cutthroat finance ploy by McMahon to ride out the (coronavirus) pandemic and resultant economic turmoil without paying the costs of operating the league … (and re-acquire) the debtor at a fire-sale price.”
Last month, the league suspended operations and fired all of its employees, aside from a handful of executives, amid the coronavirus pandemic.
The XFL had played half of its 10-game regular season before stopping because of the spread of COVID-19.
McMahon has also been sued for North of $23 million by Commissioner Oliver Luck, who was fired.
