Vince McMahon’s XFL league is now up for sale.
As noted earlier today at this link, the league officially filed for bankruptcy in Delaware after the coronavirus pandemic forced the end of the season after just 5 games, and put an end to any plans for the future.
The Hollywood Reporter now reports that the league wants to maximize the value of its assets in order to pay creditors, so they have started the process of seeking a buyer.
The bankruptcy filing noted that the league has between $10 million and $50 million in liabilities and the same in assets. They owe more than $14 million to its 25 largest unsecured creditors, including 7 of their 8 head coaches.
Vince controls all Class A shares in the XFL, while WWE has 23.5% of Class B shares, according to the filing. You can see the full Chapter 11 filing at this link.
You can read the full report from The Hollywood Reporter here
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