WWE owned Vince McMahon looking for new XFL buyer following bankruptcy

WWE owned Vince McMahon looking for new XFL buyer following bankruptcy

- WWE owner Vince McMahon launched the XFL as a joint venture with the WWE in 2001

- Years on and his second attempt to revive the league seems to have succumbed to the coronavirus pandemic

- The 74-year old recently placed the second-tier American sports group up for sale

WWE owner Vince McMahon’s XFL league recently filed for bankruptcy barely months into its inception due to the coronavirus outbreak.

The eight-team professional football league which was master-minded by the WWE mogul, only recently had to scrap the rest of the fixtures of the season.

Further reports indicate that with no end in sight to the coronavirus menace, McMahon is already looking for a new buyer of the league which is proving too challenging to sustain in the current conditions.

Alpha Entertainment, which is the company owning the third tier league, confirmed the move in a statement on Friday, April 10.

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Staff had been laid off while operations remained suspended as the company struggles to keep itself afloat amid the ongoing pandemic.

On Monday, a statement from the league attempted to shed more light on the current plight.

"The XFL quickly captured the hearts and imaginations of millions of people who love football. Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis,” the statement read as seen by Sunsport.

This was McMahon’s second attempt to take on a football venture and once again, it is proving unsuccessful.

The league was shut down in April as was the case with various sporting activities across the world and it was believed that everything would go back to normal in 2021 earliest.

But bankruptcy might mean the XFL’s fate could be all but sealed at this point.

The retired wrestler initially launched the XFL as a joint venture with the WWE in 2001 but at the time, it flopped after just one season, but McMahon did not give up on the idea

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Meanwhile, Legit.ng had earlier reported that WWE been have been in operation since the global pandemic and Mayor of the Orange County has declared them an essential business.

The pro-wrestling organization have been making use of their performance center located in the state to hold their RAW, SmackDown and recently Wrestlemania 36 events.

And Demings has gone on to defend the WWE on why they have allowed them to stay while other businesses have been shut down.

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Source: Legit.ng

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