• Loading stock data...
Thursday, July 10, 2025

Dwayne Johnson, Dany Garcia, RedBird Capital to Buy XFL for $15 Million

  • The Vince McMahon-founded league was set to go to auction Aug. 3 after filing for Chapter 11 bankruptcy in April.
  • XFL COO and president Jeremy Pollack said that the Johnson acquisition gives the sale a “Hollywood” ending.
Kirby Lee-USA TODAY Sports

An ownership group backed by Dwayne “The Rock” Johnson, professional bodybuilder and businesswoman Dany Garcia, and RedBird Capital have won the bid to purchase Alpha Entertainment LLC, parent company to the XFL.

The deal, which is subject to court approval on Aug. 7, is worth approximately $15 million – if everything checks out, the sale is expected to be finalized around Aug. 21. Alpha Entertainment’s bankruptcy filing listed the league with assets and liabilities in the range of about $10 million to $50 million. 

With the sale, the group “secures the ability to option live entertainment intellectual property for further expansion across sports, live events and original entertainment programming,” according to an announcement.

“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. “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.”

WWE founder Vince McMahon, in partnership with NBC, first launched the XFL in 2001, which was marketed as a rougher, professional wrestling-esque football league.

However, the effort failed a year later. McMahon then personally spent over $200 million to relaunch the eight-team league in 2018, this time with a more NFL-like approach but in the spring.

The 2020 season kicked off in February and generated significant buzz, averaging 1.87 million TV viewers through its first five weeks. It also introduced or advanced several broadcast features, such as integrating betting lines into the broadcast and scorebug, as well as deepening broadcaster’s access to players on-field.

The league was not able to outlast the impact of the COVID-19 pandemic and ceased operations in mid-April, filing for Chapter 11 bankruptcy. 

XFL COO and president Jeffrey Pollack, who oversaw the sale, said that the Johnson group acquisition gives the sale a storybook ending. 

“We are grateful for today’s outcome,” Pollack said. “This is a Hollywood ending to our sale process and it is an exciting new chapter for the league. Dwayne, Dany and Gerry are a dream team ownership group and the XFL is in the best possible hands going forward.”

The XFL is pitching a 12-week “made-for-TV” 2021 season, ESPN reported in June

Johnson, a professional wrestler and former football player-turned-acting mogul, keeps wrestling tied to the league. He was the world’s highest-paid actor in 2019 – earning $89.4 million – according to Forbes. 

RedBird founder and managing partner Gerry Cardinale has been involved with a number of high-profile sports endeavors, including the YES Network, the New York Yankees’ regional sports network and On Location Experiences with the National Football League.

It is also a partner of OneTeam Partners with the Players’ Associations of the NFL, Major League Baseball, Major League Soccer, United States Women’s National Soccer Team and Women’s National Basketball Association. 

Garcia is chairwoman and CEO of The Garcia Companies and TGC Management. She and Johnson, who were previously married, also founded Seven Bucks Productions, a company involved with creating original releases for television, film, emerging technologies, and digital networks.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Stephen Curry celebrates after sinking the winning putt during the final round of the American Century Celebrity Championship golf tournament at Edgewood Tahoe Golf Course in Stateline, Nev., Sunday, July 16, 2023.

Golf’s Hottest Celebrity Tournament Keeps Getting More Exclusive

The American Century Championship tees off at Lake Tahoe on Friday.
Jul 10, 2025; Wimbledon, United Kingdom; Iga Swiatek of Poland at her on court interview after winning her match against Belinda Bencic of Switzerland on day 11 at All England Lawn Tennis and Croquet Club.

Wimbledon Set to Deliver Strong Finals Matchup for ESPN

Novak Djokovic is still in the hunt for his 25th Grand Slam.
Feb 5, 2025; New Orleans, LA, USA; NFLPA executive director Lloyd Howell during the NFLPA press conference at the Super Bowl LIX media center at the Ernest N. Morial Convention Center.

NFLPA Head Has Side Hustle With PE Firm That Can Invest in..

The NFLPA’s executive director is embroiled in multiple controversies.

Deion Sanders Rips ‘Bulljunk’ in CFB, Calls for NFL-Style Salary Cap

Coach Prime is frustrated with the new revenue-sharing era.

Featured Today

Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
July 6, 2025

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
Apr 26, 2025; San Francisco, California, USA; Houston Rockets guard Fred VanVleet (5) before game three of first round for the 2024 NBA Playoffs against the Golden State Warriors at Chase Center.

Rockets Get $20 Million in Wiggle Room From New VanVleet Deal

VanVleet first signed with the Rockets in 2023.
April 20, 2025

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
June 24, 2025

Timberwolves’ 4-Year Ownership Saga Ends As A-Rod, Lore Take Over

The unanimous approval brought a clean end to a long-disputed transaction.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.
March 4, 2025

Eagles Make Saquon Barkley NFL’s Highest-Paid Running Back Ever

Barkley is coming off a historic 2024 season with the Eagles.