Spoiler Is Vince McMahon trying to buy his own XFL out of Delaware bankruptcy court? The XFL’s creditors seem to think so, and sources said XFL president Jeffrey Pollack has called venues in St. Louis and Seattle about reinstating the lease agreements. The XFL, 80 percent owned by McMahon through Alpha Entertainment and 20 percent by his WWE empire, launched Feb. 7 and lasted five weeks before shutting down because of the COVID-19 pandemic. The league shut down for good April 10 and filed for Chapter 11 bankruptcy three days later. But was that just a cutthroat finance ploy by McMahon to ride out the pandemic and resultant economic turmoil without paying the costs of operating the league? That’s what was asked by one former team official, who passed on the tips about Seattle and St. Louis. A representative for Visit St. Louis, which oversees the Dome at America’s Center where the BattleHawks played, confirmed Pollack had reached out about the lease. When asked about the possibility McMahon may have filed for Chapter 11 protection to restart the league, a spokesman hired by the XFL wrote in an email, “The response to this filing will speak for itself.” But a committee of unsecured creditors had plenty to say Tuesday in a series of court filings. Objecting to Alpha Entertainment’s proposal to pay $3.5 million in season ticket refunds, the committee wrote, “This is an unnecessary expenditure designed to buttress the Debtor’s argument that an abbreviated sales process is required and is being sought to further the efforts of the debtor’s controlling equity holder/secured lender, Vincent McMahon (“McMahon”), to acquire the debtor at a fire-sale price. … The debtor cannot possibly know at this time whether issuing refunds to season ticket holders will preserve the value of the debtor estate’s or benefit any creditor, other than possibly McMahon.” In other words, the only reason to pay season ticket holders for games they didn’t get would be to ensure goodwill to McMahon for if and when he returns with the XFL. The season ticket holders are unsecured creditors, so the chances they get paid in an orderly liquidation would be remote. The committee also questioned why XFL headquarters is still open and executives like Pollack are drawing salaries. “Any cash constraints on the debtor are solely the result of unnecessary and unwarranted expenditures by the debtor designed to placate the desires of McMahon, such as the payment … in ticket refunds to unsecured creditors by an estate that allegedly may become administratively insolvent; retention of the debtor’s headquarters in Stamford, Conn., which is across the street from the (headquarters) of McMahon’s principal asset, World Wrestling Entertainment, Inc. (“WWE”); employees in that locale drawing excessive compensation rates who are not needed for an enterprise that has shut down; and a bloated cost-sharing arrangement with the WWE that has yet to be explained for unspecified finance and accounting services,” the committee wrote. “The … bid procedures are designed to ensure that McMahon can acquire the debtor at a fire-sale price with third parties having little or no meaningful opportunity to do the diligence required to ensure a fair process.” Unlike the bankrupt Alliance of American Football, the XFL arguably has intriguing intellectual property assets. The XFL spent over a year developing new rules, many of which, like the kickoff and punt, were so well received some asked if the NFL should adopt them. Even the ball was unique to the XFL. And in certain markets, like St. Louis and Seattle, the crowds were thick and fan passion evident, a remarkable feat for a nascent league. The teams in markets like New York and Tampa, Fla., struggled (and there was talk of relocating those teams), but many XFL markets fared well. When the XFL shut down, it had more than 400 employees, including players, many highly paid. Dallas head coach Bob Stoops had a two-year, $2 million contract, and team presidents were earning an annual salary in the mid-six figures. The employees’ only redress is filing claims in bankruptcy court, other than former commissioner Oliver Luck. Because McMahon guaranteed Luck’s pay, he is suing McMahon for $23.8 million in federal court.
Came here to post this. This is a genius move. Can you imagine if the NFL, with no plan in place, has to shut down over Covid? If this group can quickly get the league back up and running and come up with an NBA-like plan, it can really poach some talent as the NFL shuts it's season down. Cue The Rock 2024.
It's also a lot easier to manage 8-9 teams in the XFL versus 32 teams in the NFL. With the success of the NBA and its 22 teams, there's less headaches and less hurt feelings of not being one of the teams included. Not sure how the contract statuses work though, in terms of poaching talent. Obviously, if you're a superstar free agent (cough ANTONIO BROWN cough) there's no obligation to a team. But if you're someone under contract, can you just go to the XFL and play for a season, depending on the status of the NFL? Hell, can we get PJ Walker, the GOAT XFL player, back on the Roughnecks, from the Panthers? Also, it only cost 15m for Dwayne to buy the XFL. An entire freakin' football league. That seems like pennies on the dollar.
It sounds like this should be on a episode of HBO’s Ballers. Still very confident the Roughnecks name and logo will be kept permanently.
https://www.foxsports.com/presspass...03/united-states-football-league-returns-2022 The league will have the rights to old USFL team names, including classics like the New Jersey Generals, Oakland Invaders and Houston Gamblers.
Will they bring back “The Giant Dice Game” whenever the two dice hit either a 7 or 11, the fans get a free 7-Eleven slurpee/slushee drink?
Came here to post Sumlin's return to Houston. "Art Briles, Kevin Sumlin and Tom Herman" "Who are three guys that would be infinitely better off today if they'd just kept their dumb asses at U of H, Alex?" Edit: Man, the USFL official website is SPARE! No merch, no links to team sites, nothing but three news stories and logos. As Buck posted, Gamblers merch would be selling like hotcakes.
Looks like someone took the $3 they won from the NFL and turned it into this. I'm on board with the Gamblers. And the gear is still dope.
You'd think they wouldn't be so conservative with the jerseys as a league, mostly pretty plain. Houston has the best helmet imo Michigan Panthers will be a .500 team, book it.
Will the H-back be their leading receiver after they pass on whatever 2022's version of Randy Moss is? "Why check the 40 times or yards-per-catch, frankly, we already have our shallow threat. There are three things that can happen when you throw deep, and one of them is higher expectations."
