Dwayne “The Rock” Johnson is set to buy XFL parent company Alpha Entertainment LLC along with a group of winning bidders for $15 million according to a press release on Monday.
Entrepreneur Dany Garcia and RedBird Capital Partners join the iconic WWE star in this purchase.
John released a statement saying “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,” said Johnson. “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.”
On April 13, XFL filed for Chapter 11 bankruptcy after its 2020 season was brought to an abrupt stop a month prior due to the COVID-19 pandemic.
XFL President and COO Jeffrey Pollock stated that “We are grateful for today’s outcome. This is a Hollywood ending to our sale process and it is an exciting new chapter for the league.”
Seven Bucks Companies is co-founded by both Johnson and Garcia. The company includes investments, brand integrations, philanthropic endeavors, marketing, and film and television projects. Additionally, RedBird Capital Partners has a few multi-billion dollar sports and entertainment companies.