Vince McMahon won't buy back XFL; The league Can Still Go On
Kevin Seifert, ESPN Staff Writer reported that XFL owner Vince McMahon will not attempt to buy back the league during the bankruptcy court filing. The XFL filed bankruptcy on April 13 because of the effects and impact it took from the coronavirus pandemic. There was more drama added towards the cancellation of the league on the lay offs, firing of Oliver Luck, and lawsuits towards McMahon and the league. It is clear that McMahon, who many thought would buy back the XFL, will not buy back the league.
In a deposition footnoted in Tuesday's filing, McMahon said he had reserved his legal right to be a bidder in the original bankruptcy claim. He said he did that because "I think I was trying to make up my mind." The committee's filing last week pushed him to decide against a bid, he said.
"I don't know why that's out there, making me out to be the bad guy, [that] I'm going to buy the XFL back for pennies on the dollar, basically," McMahon said in the deposition. "That helped me move into the direction of, 'I'm not going to be a bidder, not going to have anything to do with it.' I do hope that someone will pay a lot of money for it, and I do hope that it will survive." -Kevin Seifert.
However, there is hope that the XFL can still resume for 2021. There are at least 20 bidders interested in taking over the league. The XFL Newsroom announced key sale dates:
bid deadline: July 30, 2020 5pm EST
auction: August 3, 2020, 10:00am EST
Sale hearing: August 7, 2020, 10:00am EST
XFL President Jeffrey Pollack is hoping the sale will happen soon so that the league can start on time. Should the sale succeed, it will be the third time the XFL will be brought to life. No matter the circumstances, McMahon will always go down in history as the man that changed football as it should be played #Fortheloveoffootball.