Vince McMahon’s XFL has filed for Chapter 11 bankruptcy, a move that had been expected after the startup football league was forced to cut short its comeback season amid the coronavirus lockdown.
In a Delaware bankruptcy court filing, the XFL listed $10 million-$50 million in debts and an equal amount in assets. When the XFL ended its season last month, the league vowed to pay all player salaries for the 2020 season and that it would play “a full season in 2021 and future years.”
WWE chief McMahon controls the XFL as a private entity. WWE, the publicly held wrestling empire that McMahon controls, owns a 23.5% stake in XFL.
More to come
