With gratitude & passion I’ve built a career with my own two hands and will apply these callouses to our @xfl2020 brand. All other NFL-related trademarks are trademarks of the National Football League. Johnson and a partner, RedBird Capital, paid $15 million to keep the XFL alive. But even though the XFL didn't score a financial or ratings touchdown back then, some fans have still hoped for a new football league that could challenge the NFL. So it’s like wrestling? In this weekend's Hot Clicks: Wisconsin's quarterback play got a major upgrade Friday night, plus a muddy mess in the Upper Peninsula and more. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. ESPN says this concern could work in the XFL’s favor, if players opt out of the NFL for the fall, join XFL in the (potentially safer) spring, then enter the NFL 2021 draft. The following browsers are supported: Chrome, Edge (v80 and later), Firefox and Safari. But Forbes warns the actor can’t guarantee the league’s succes and won’t mean much if they don’t secure on-field talent. Nope. It was especially poor timing for the XFL, which was founded as an NFL alternative by WWE (then known as WWF). CINCINNATI — Dwayne "The Rock" Johnson has partnered with RedBird Capital to buy the XFL according to Sportico.com. Their plans to resuscitate the fledgling football league remain to be seen. Between the two of them, they’re betting they have the sports and entertainment expertise to deliver the XFL a third chance. Quibi is dead, but the mobile streaming app still has $350 million in leftover cash to give back to investors, only 20% of the capital it raised. The 48-year-old, who played college football at the University of Miami and is one of Hollywood’s most popular and bankable actors, put up half of the bid himself, and his business partner and ex-wife Dany Garcia will also be a stakeholder. The NFL is currently still on track to begin its next season this fall, despite concerns about coronavirus. Staffers said the league was not coming back. Others are more optimistic: with deep pockets to help weather bumps in the road and all eyes trained on the venture. It averaged about 1.9 million viewers on FOX per game. The NFL’s fall season. "With pride and gratitude for all that I've built with my own two hands, I plan to apply these callouses to the XFL, and look forward to creating something special for the players, fans, and everyone involved for the love of football.". Garcia will be the first woman to ever hold a majority stake in a professional sports league. With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL. The upstart league didn’t get to finish its first season following its long hiatus. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. The ambitious, bold and hungry start their week with The Business of Business! “This is a Hollywood ending to our sale process and the start of a fantastic new beginning for the XFL with the best possible ownership group going forward,” XFL President Jeffrey Pollack said. Like the NBA, NHL and the MLB, the XFL was forced to cancel its season. L Brands is watching one brand drag the company down and another turn it into a pandemic-proof juggernaut. His timing was opportune.Plagued by controversy over concussions and race, the NFL’s ratings were down 17%, according to NYT. Others are more optimistic: with deep pockets to help weather bumps in the road and all eyes trained on the venture, Barrett Sports Media wagers The Rock is exactly what the XFL needs. that she called her ex-husband as soon as she heard about the bankruptcy. (HBO, like CNN, is owned by AT&T's WarnerMedia unit. NFL footage © NFL Productions LLC. A bankruptcy court still needs to approve the deal at a hearing on August 7. The Rock scored the league for $15 million, backed by RedBird Capital Partners, after it filed for bankruptcy in April when the coronavirus shuttered its opening season. Before becoming one of the most beloved and richest men in Hollywood, The Rock was a college football player and one of the biggest wrestling stars in history, winning NCAA championship for University of Miami in 1991 and headlining the most watched pay-per-view wrestling event in history. Thursday was a busy one in Baltimore for Ravens GM Eric DeCosta. Factset: FactSet Research Systems Inc.2018. The XFL filed for Chapter 11 bankruptcy April 13, about a month after its 2020 season was shuttered because of the COVID-19 pandemic. Apparently, The Rock was cooking up a deal to buy the XFL from his former boss. That spurred the decision to launch the second iteration of the XFL earlier this year, featuring eight teams, a shorter play clock and new rules designed to both speed up the game and make it safer at a time when the NFL has come under fire for a rash of player concussions. Johnson and a partner, RedBird Capital, paid $15 million to keep the XFL alive. Alpha filed for bankruptcy in April after ending the XFL season early because of the Covid-19 pandemic. NFL and the NFL shield design are registered trademarks of the National Football League.The team names, logos and uniform designs are registered trademarks of the teams indicated. All times are ET. McMahon liquidated $270 million, or 4% of his WWE stock to get the league up and running. Dwayne, Dany and Gerry are a dream team ownership group and the XFL is in the best possible hands going forward.". XFL 1.0 shuttered after a single season of disastrous ratings; concerns about player safety; and criticism that games were reliant on violence, stunts and sex appeal rather than athleticism. After 17 years as the biggest joke in football, in January of 2018, McMahon announced he was bringing back the XFL without the, dropping the gimmicks and the cheerleaders. All rights reserved. The NFL sent a memo to clubs on Friday that lays out new procedures for "high risk" close contacts, NFL Network's Tom Pelissero reported. ... Dany Garcia and Dwayne Johnson were part of a group that agreed to buy the XFL … The two Premier League powers go head-to-head at Old Trafford on Saturday. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy. New York (CNN Business)Dwayne "The Rock" Johnson is teaming up with his ex-wife and a top sports management company to buy the bankrupt XFL football league for $15 million. I loved the access.”. Things were going better than expected. Cleveland fans do complain, often about our shared collective misery and the litany of failed regimes of late. The Las Vegas Raiders and New Orleans Saints have no new positive cases from Friday's round of COVID-19, NFL Network's Tom Pelissero reports. After two years in development, XFL 2.0 launched in February with solid talent and sponsorships from Gatorade and Anheuser-Busch. Cleveland checks in at No. I loved the access.”, The biggest uncertainty remains the pandemic. Dwayne 'The Rock' Johnson, investor group agree to buy XFL for $15M Aug 3, 2020 Kevin Seifert ESPN Staff Writer A group including actor and former … Critics liked the playful attitude and fan access: two of its selling points are in-game sideline interviews with players, and letting fans listen in whie teams deliberate and review calls. "my passion for the game and my desire to always take care of the fans. All rights reserved. The NFL’s fall season currently scheduled to start on-time, though players are expressing concern. The future of sports is up in the air right now, but at least one person thinks it’s a good time to invest. Guthrie to Trump: You're the President, you're not some crazy uncle! It’s free. The pause on business was too much for the already precarious venture. Please check your email for a confirmation. "Melding our expertise combined with our commitment to deliver exciting and inspiring unique content, has us all focused on developing the XFL brand into a multi-media experience that our athletes, partners and fans will proudly embrace and love.". Garcia, an admirer of XFL 2.0, tells ESPN that she called her ex-husband as soon as she heard about the bankruptcy. He added that he looks forward to "creating something special for the players, fans, and everyone involved for the love of football.". [RELATED: Former XFL Commissioner Oliver Luck Sues Vince McMahon] And awesome. With gratitude & passion I’ve built a career with my own two hands and will apply these callouses to our @xfl2020 brand. There are many other fan bases around the NFL who complain a lot more, however. 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"The acquisition of the XFL with my talented partners, Dany Garcia and Gerry Cardinale, is an investment for me that's rooted deeply in two things—my passion for the game and my desire to always take care of the fans," Johnson said in a statement. https://www.insidehook.com/.../dwayne-the-rock-johnson-buys-xfl-15-million But it's not always positive. Former WWE superstar Dwayne "The Rock" Johnson, Dany Garcia and Gerry Cardinale’s private equity investment firm RedBird Capital have teamed up to buy the XFL for $15 million, the XFL announced. "This is a Hollywood ending to our sale process and it is an exciting new chapter for the league. The Ravens reinforced the roster with a pair of high-profile roster additions to try and keep up with the Steelers and stay ahead of the Browns. Johnson is partnering with Dany Garcia, a film and movie producer who was married to Johnson for more than 10 years before they divorced in 2007, as well as RedBird Capital, a company founded by former Goldman Sachs partner Gerry Cardinale. The XFL, The Rock, Dany Garcia and $15 million: What we know about the league's sale, 2021 season. All rights reserved. Austin Barnes became the first player since 1961 to drive in a run on a home run and on a bunt in a World Series game. The two Hollywood fixtures have some serious money behind them: RedBird Capital manages over $4 billion in assets and has a history of success in the sports world, according to.