Dwayne Johnson is to become a co-owner of the revamped XFL American football league after agreeing to a deal to buy out his old WWE boss Vince McMahon.
The league was set to go to a bankruptcy auction this week (August 9, 2020) but Johnson, his ex-wife and current manager Dany Garcia, and RedBird Capital have closed a deal to acquire the XFL’s parent company, Alpha Entertainment, for $15 million.
In a statement to The Hollywood Reporter, XFL president Tom Pollock called the deal “a Hollywood ending” for the troubled league, which originally ran for one season in 2001. An attempt to relaunch the competition was halted by the COVID-19 pandemic earlier this year.
With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL.
With gratitude & passion I’ve built a career with my own two hands and will apply these callouses to our @xfl2020 brand.
Excited to create something special for the fans! #XFL #fullcircle pic.twitter.com/LprJ6HjglD
— Dwayne Johnson (@TheRock) August 3, 2020
Garcia said she and her ex-husband plan to develop the XFL brand into “a multi-media experience that our athletes, partners and fans will proudly embrace and love.”
Before finding fame as one of the WWE’s top wrestlers, the Skyscraper star played American football at the University of Miami.
The sale of the league is subject to bankruptcy court approval, which will be decided at a hearing this Friday, with the deal expected to close on August 21, 2020.