Dwayne 'The Rock' Johnson and Dany Garcia Are Buying the Bankrupt XFL

The acquisition is expected to close by the end of the month, pending bankruptcy court approval

Dwayne “The Rock” Johnson and business partner Dany Garcia, alongside investment firm RedBird Capital, announced today that they’re buying substantially all the assets of Alpha Entertainment, parent company of the XFL, for $15 million.

The league, which WWE president and CEO Vince McMahon launched in 2001, initially lasted just one season and lost an estimated $70 million. It was marketed as a wilder version of the NFL—the rules required chaotic scrambles rather than coin tosses, for example, and the players were permitted dramatic hits and showboating that are banned in the NFL.

The

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