Dwayne Johnson is one of the new owners of the XFL. He teamed with Gerry Cardinale’s RedBird Capital to purchase the failed football league, founded by WWE chairman Vince McMahon, out of bankruptcy following its failed 2020 return season.
The XFL was purchased for $15 million, split evenly between Johnson and partner RedBird Capital.
Dany Garcia, Johnson’s business partner, is also a stakeholder in the business too. Garcia posted on twitter after the win.
— Dany Garcia (@DanyGarciaCo) August 3, 2020
Garry Cardinale’ RedBird has made investments in other sports, including some with ties to the National Football League and its players.
RedBird recently bought French soccer team Toulouse, and it made an investment in YES Network, the New York Yankees’ regional sports network.
XFL president Jeffrey Pollack was thrilled that a bona fide movie star bought his football league.
“This is a Hollywood ending to our sale process and it is an exciting new chapter for the league,” Pollack said, via Eric Fisher of SportsBusiness Group.