XFL bankruptcy sale to take place in August
The XFL filed for bankruptcy in April, and now a date has been set for its bankruptcy sale.
Sports Business Journal reporter Ben Fischer said on Monday that U.S. Bankruptcy Court Judge Laurie Selber Silverstein ruled last week that a bankruptcy sale will proceed. The date of the sale will be on August 3.
A report on May 19 suggested that league founder Vince McMahon was planning to buy the league out of bankruptcy at a cheap price and was using the filing as a financial strategy. McMahon later denied those rumors and said he wouldn’t be bidding on the league’s assets.
McMahon invested over $200 million of his own money in reviving the league, which he first launched in 2001. This year’s reincarnation of the league played half of its 10-game season before things were cancelled due to the coronavirus. The procession of the bankruptcy sale could result in an XFL season taking place in 2021.