WWE legend Dwayne ‘the Rock’ Johnson has acquired the bankrupt XFL football league for $15 million.
In a press statement released on Monday, ‘the Rock’ and business partner and ex-wife Dany Garcia, teamed up with Gerry Cardinale and RedBird Capital Partners to purchase the league’s parent company.
The parent company, Alpha Entertainment LLC, filed for Chapter 11 bankruptcy in April after the COVID-19 pandemic forced the league to shutter after just five weeks of play.
It was previously due to be up for auction Monday, before Johnson’s group finalized the purchase.
“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.”
After shutting down following its initial season in 2001, the XFL relaunched in 2020 and enjoyed relative success through its first five weeks of the season.
Before embarking on his career as an actor, Johnson, 48, played college football at the University of Miami and spent eight years as a professional wrestler. The XFL, coincidentally, was previously owned by Vince McMahon, the founder of World Wrestling Entertainment.