The Rock confirms the deal has been officially sealed and 'the key' has been handed over for him to finally take over the bankrupt football league with his business partners.
- August 22, 2020
AceShowbiz - Dwayne Johnson has closed a deal to take over America's XFL football league.
The wrestler-turned-movie star was part of a consortium of investors who splashed out $15 million (£11.4 million) to buy out the bankrupt league earlier this year (20) and now he has confirmed "the keys" have been handed over.
"The deal is official closed and the keys to the XFL have been handed over (sic)," Johnson tweeted on Friday (21Aug20). "I humbly accept and promise to put my callouses to hard work building our new brand."
"Congrats to my partners @DanyGarciaCo & #GerryCardinale and our sharp, hungry team. #XFLOwner #ForTheLoveOfFootball."
Johnson, his ex-wife and business partner Dany Garcia, and RedBird Capital's Gerry Cardinale bought the league hours before it was set to hit the auction block.
The transaction is still subject to bankruptcy court approval, according to a press release.
Johnson has history with the game - he played football at the University of Miami.
The XFL was originally launched by WWE CEO Vince McMahon in 2001, but folded after one season. McMahon relaunched the league for the 2020 season and despite a healthy start, ratings were way down before games were halted due to the coronavirus pandemic. The league went bankrupt in April.
