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Sale of XFL to Dwayne Johnson, Dany Garcia is now closed

US-ENTERTAINMENT-FILM
Dwayne Johnson attends the Warner Bros Premiere of Central Intelligence, in Westwood, California, on June 10, 2016. / AFP / CHRIS DELMAS (Photo credit should read CHRIS DELMAS/AFP via Getty Images)

The XFL will officially have new leadership as the start-up league attempts to make a rebound this coming spring. Weeks after a bankruptcy judge approved the sale of the football league from Vince McMahon to a group led by former wrestling star Dwayne “The Rock Johnson,” the deal has now closed.

Johnson, his ex-wife and RedBird Capital paid $15 million as an attempt to save a league that had to suspend its inaugural season this past spring due to the COVID-19 pandemic.

Initially, there was some push back from creditors. Concerns included Johnson’s relationship with McMahon and the small sale price. Those issues were resolved, leading to the court approving said deal.

With the XFL be played in 2021?

According to Forbes, Johnson is the world’s highest-paid actor. He’s said to bring in nearly $90 million on an annual basis and has a net worth of $320 million. His finances will play a large role moving forward as the new heads of the XFL look to build up its brand.

Johnson is already looking at the possibility of expanding the league from its current level of eight. That could afford more professional players an opportunity to prove their worth. After some initial concern, Fox Sports is now looking into the possibility of broadcasting games this spring.

The backdrop surrounding the 2020 college football season could very well play a role here. Two major conferences have already canceled the season. Top prospects around the nation continue to declare for the 2021 NFL Draft. Could the XFL potentially offer up professional contracts to some of these players in the lead up to the draft? It would be a way for said prospects to show their abilities in live-game action while collecting a pay check.

Either way, the XFL is now under new leadership. It will be intriguing to see how this all plays out in the coming months.