The XFL could have a new owner this week as final bids are due in bankruptcy court. Prospective buyers reportedly desire to build out a spring 2021 league “in a content-starved environment.”
In court filings, three companies have objected to having their contracts reassigned to a new owner. Both Fox Sports and ESPN are looking for significant changes to their contracts with a new owner possibly on the way. ESPN cited the unknown of both a potential owner and future business plan in a court filing. Vince McMahon was the major draw, as he spent $200 million to restart the league and has a deep background in entertainment production.
JPMorgan Chase said it is owed $4.49 million, not the $4.47 million set by XFL parent company Alpha Entertainment for its back-office credit card transactions for the league. There are reportedly dozens of other partners that didn’t object to reassignment, including Anheuser-Busch and Fanatics.
While the XFL had success before the pandemic shut it down – with an average attendance of 18,571 and 1.87 million viewers per game – it could run into a rescheduled spring college football season. A new owner also may not have the same cache as McMahon.