- The now-bankrupt XFL league has attracted dozens of bidders vying to buy the league and restart it in 2021.
- League founder Vince McMahon has backed out of being a bidder.
- The league shut down in March due to the COVID-19 pandemic.
STAMFORD, Conn. – The now-bankrupt XFL may find new life as 20 different potential buyers have begun bidding for the football league. The league was forced to shut down in March due to the coronavirus outbreak.
League founder Vince McMahon has backed out of the bidding for the league after being accused of attempting to purchase the XFL for pennies on the dollar.
All bidders want the league to return for spring 2021, giving XFL sports bettor’s hope that they will be able to get in on XFL action directly following the NFL season.
XFL May Return
After being forced to close in March, the XFL subsequently filed for chapter 11 bankruptcy in April.
This came directly following the laying off of the majority of its staff.
Good news seems to have finally come to the league’s way as nearly two dozen bidders are vying to own and fund the next XFL season.
XFL’s global investment bank, Houlihan Lokey has executed non-disclosure agreements with the 20 different bidders to begin negotiations for purchasing the league.
Houlihan managing partner William Hardie spoke with sports reporter David Kaplan on the state of affairs regarding the interest in the league.
“In fact, I understand the Debtor has modeled for 2021 a made-for-TV, 12-week tournament-style approach to its business,” said Hardie, “since the XFL is particularly well suited for a crowd-free experience that could thrive in the current environment, given its existing innovations such as in-game audio from players and coaches and live on-screen sports wagering information.”
Vince McMahon was initially a bidder but ended up backing out of the bidding after being accused of using the bankruptcy to his advantage.
McMahon has also had to deal with the wrongful termination lawsuit by former XFL commissioner Oliver Luck.
The XFL has yet to be sold to the highest bidder, but the way things are progressing, legal sports betting sites will be hosting betting lines for the next XFL season.
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