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Dany Garcia, Dwayne Johnson and RedBird Capital Buy XFL for $15 Million

The group is buying the football league from WWE chairman Vince McMahon.

August 3, 2020 2 min read

and Dany Garcia strike again: The power duo (and Entrepreneur cover stars) are partnering with RedBird Capital Partners to purchase the XFL for $15 million

Related: Dwayne Johnson and Dany Garcia’s Business Strategy: Rethink Everything!

The XFL, founded in 2018 by WWE chairman and CEO Vince McMahon, started its inaugural season in February before halting play due to the global health crisis. The league filed for bankruptcy protection in April and was preparing to go to auction before Johnson, Garcia and RedBird’s Gerry Cardinale, a former Goldman partner, announced the deal Monday. The deal goes to bankruptcy court for approval August 7 and is expected to close on or before August 21. 

“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. “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.” 

Related: Want Millions of Views for Your Virtual Event? Just Add Shaq and Gronk.

Source: Entrepreneur

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