(Bloomberg) -- Dwayne “The Rock” Johnson will buy the assets of the bankrupt professional football league XFL as part of a group bid with RedBird Capital Partners and Dany Garcia, according to a statement Monday.
The group is paying $15 million for substantially all of the assets of Alpha Entertainment LLC, the parent company of the XFL, according to the statement. The sale is subject to bankruptcy court approval at a hearing Friday and may close around August 21.
“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,” Johnson said in the statement.
Alpha Entertainment filed for bankruptcy in April after the Covid-19 pandemic forced the shutdown of the league’s first season.
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