The XFL has once again failed. Owner Vince McMahon has filed for bankruptcy days after folding the league.
A league spokesperson tells us,
"The XFL quickly captured the hearts and imaginations of millions of people who love football. Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis. Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football." said a league spokesperson.
The COVID-19 pandemic essentially shut down the league causing the XFL to lose millions since it wiped out regular-season and playoff games.
Employees were paid full wages the XFL refunded ticket holders.
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