XFL officially files for bankruptcy
The XFL won’t be returning as the league has filed for bankruptcy.
The league’s bankruptcy files were shared on Monday by Darren Rovell of the Action Network.
According to the documents, the XFL was not entirely owned by Vince McMahon as the WWE owned 23.5 percent of the league’s Class B stock. McMahon did own 100 percent of the Class A stock and the rest of the Class B stock not owned by the WWE.
Among the long list of creditors owed by the league include the St. Louis Sports Commission ($1.6), coach Bob Stoops ($1.083 million), coach Marc Trestman ($777,777) and Ticketmaster ($655,148).
Last week, the XFL announced that all league operations have been suspended and employees have been laid off following the coronavirus pandemic.
The first season of the rebooted XFL had to be canceled in the middle of the season due to the coronavirus a few weeks ago.