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XFL: The sequel

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On 4/10/2020 at 4:23 PM, Herpa Derpa said:

This.  Fuck, at this point, I'd give my left arm for a Pop Warner scrimmage just to watch live sports.

I think we'll see a group from the AAC and XFL give it another run sooner rather than later.  The XFL has a decent excuse for folding and I wouldn't be surprised to see it back in some form within the next five years.

You could be right, but, I don't think Vince will give it a 3rd try...

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The XFL's parent company filed for Chapter 11 bankruptcy Monday, the first business day after the league suspended operations and laid off almost all of its employees.

The filing, officially made by Alpha Entertainment, listed the XFL with assets and liabilities each in the range of $10 million to $50 million. The largest creditor was listed as the St. Louis Sports Commission at $1.6 million. Seven of the league's eight coaches also are among the top creditors.

In a statement, the XFL attributed its decision to the coronavirus pandemic:

"The XFL quickly captured the hearts and imaginations of millions of people who love football. Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis. Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football."

Owner Vince McMahon, who is also chairman and CEO of the WWE, has not spoken publicly about the XFL's demise.

XFL chief operating officer Jeffrey Pollack held a conference call Friday with employees to announce the layoffs and suspension of operations. Although Pollack stopped short of saying the league is going out of business, staffers left the call convinced that the XFL will not return.

A source close to the bankruptcy filing said the league could be sold during the process.

McMahon announced the return of the XFL in January 2018, and the league spent two years in development before debuting in February. The eight-team league made it through five weeks of games before suspending and finally canceling its season because of the pandemic. It pledged as recently as three weeks ago to return in 2021, but that changed after McMahon began assessing the league's future following WrestleMania 36 on April 4-5.

The XFL paid its employees through April 12, plus accrued vacation time. The league also plans to refund all advance ticket sales.

 

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@ProFootballTalk
In 2018, Vince McMahon said that XFL 2.0 would be "strictly funded" by him, with no WWE involvement; the XFL bankruptcy filing shows that the WWE owns 23.5 percent of the Class B stock

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https://sports.yahoo.com/xfl-files-for-bankruptcy-after-suspending-operations-amid-coronavirus-pandemic-194135674.html

Among the top creditors with the largest unsecured claims from the league are Bob Stoops, the longtime University of Oklahoma coach who was the head coach and general manager of the Dallas Renegades,

Stoops has the third-largest unsecured claim at $1.08 million.

 

in other news dick futures on the CBOT are down 75%

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@ProFootballTalk
In 2018, Vince McMahon said that XFL 2.0 would be "strictly funded" by him, with no WWE involvement; the XFL bankruptcy filing shows that the WWE owns 23.5 percent of the Class B stock
I read somewhere yesterday that they paid zero dollars for the stock, so they paid nothing and ended up with nothing.

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[url=]http://Vince McMahon could be trying to buy the XFL - ProFootballTalk[/url]
So you’re saying there’s a chance!!   The league ratings and attendance were good so I could see it turning a profit eventually. 
I hope so. Son and i had alot of fun going to games.

Sent from my SM-G960U using Tapatalk

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[url=]http://Vince McMahon could be trying to buy the XFL - ProFootballTalk[/url]
So you’re saying there’s a chance!!   The league ratings and attendance were good so I could see it turning a profit eventually. 
In TT thats a huge link fail.

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There's this other guy out there that used to work with Vince McMahon that had a huge stake in a wildly unsuccessful NFL-competitor.  I wonder if those two fucksticks can't get together and make some other wildly idiot shitshow that loses tens of billions.  I'm of course talking about David Dixon.  Who managed to surround himself with incredibly talented football players and some of the most morally bankrupt and idiotic businessmen that the world has ever seen.  

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Vince says nope. 

Quote

XFL owner Vince McMahon said Tuesday in bankruptcy court that he will not attempt to buy back the league.

In a court filing, McMahon called accusations that he was secretly maneuvering to use Chapter 11 as an avenue to cheaply retain the XFL "inflammatory" and "unsubstantiated."

The XFL filed for bankruptcy on April 13 in Delaware district court, three days after laying off nearly its entire staff, citing the unforeseen impact of the coronavirus pandemic.

McMahon then put the league up for sale, but the court's committee of unsecured creditors claimed last week that McMahon had set up a "fire sale" bidding process that would rig the process in a way that would allow him to buy back the XFL without repaying its debts.

In a deposition footnoted in Tuesday's filing, McMahon said he had reserved his legal right to be a bidder in the original bankruptcy claim. He said he did that because "I think I was trying to make up my mind." The committee's filing last week pushed him to decide against a bid, he said.

"I don't know why that's out there, making me out to be the bad guy, [that] I'm going to buy the XFL back for pennies on the dollar, basically," McMahon said in the deposition. "That helped me move into the direction of, 'I'm not going to be a bidder, not going to have anything to do with it.' I do hope that someone will pay a lot of money for it, and I do hope that it will survive."

In the filing, McMahon's attorneys wrote that McMahon put in "at least" $200 million of his own money into the XFL.

"Accordingly, all that the committee has managed to do," the attorneys wrote, "... is to chase away a potentially significant bidder for the debtor's assets."

The XFL has hired the Houlihan Lokey brokerage firm to handle the sale. Houlihan Lokey managing director William H. Hardie III said in a filing Tuesday that 20 potential purchasers have signed non-disclosure agreements to gain access to confidential company data. An additional six potential purchasers are in the process of signing similar agreements, according to the filing.

"Based on preliminary feedback," Hardie wrote, "I believe there is a robust market for the Debtor's assets, including a number of potentially interested private equity firms and other financial sponsors."

According to the original schedule it established, letters of intent are due June 12. Final bids are due July 6, subject to approval by the bankruptcy court, in hopes of putting potential new owners in position to get the XFL back on the field in spring 2021 if desired.

 

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Elon Musk should buy it and put franchises in space and own extraterrestrial football supremacy. Space XFL, imo.

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19 hours ago, DougO said:

Elon Musk should buy it and put franchises in space and own extraterrestrial football supremacy. Space XFL, imo.

Dr. McCoy and Captain Kirk approve - Reaction GIFs

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