Dany Garcia, Dwayne Johnson and RedBird Capital Buy XFL for $15 Million
The group is buying the football league from WWE chairman Vince McMahon.
Dwayne Johnson and Dany Garcia strike again: The power duo (and Entrepreneur cover stars) are partnering with RedBird Capital Partners to purchase the XFL for $15 million.
Hiram Garcia
Related: Dwayne Johnson and Dany Garcia's Business Strategy: Rethink Everything!
The XFL, founded in 2018 by WWE chairman and CEO Vince McMahon, started its inaugural season in February before halting play due to the global health crisis. The league filed for bankruptcy protection in April and was preparing to go to auction before Johnson, Garcia and RedBird's Gerry Cardinale, a former Goldman partner, announced the deal Monday. The deal goes to bankruptcy court for approval August 7 and is expected to close on or before August 21.
With my trail blazing partner @DanyGarciaCo & Red Bird Capital, we have acquired the XFL.
— Dwayne Johnson (@TheRock) August 3, 2020
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
"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," Johnson said in a statement. "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."
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