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PromoTheRobot

McMahon buying XFL from bankruptcy, plans to restart

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And now you know....the REST of the story!

 

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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.

 

https://theathletic.com/1824702/2020/05/19/is-vince-mcmahon-trying-to-covertly-buy-his-own-bankrupt-xfl/?source=freedailyemail

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Terrible investment...its nothing more then a tax write off for Millionaires

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I had a feeling this would happen...I mean the shutting down was due to the epidemic and companies file bankruptcy all the time to protect assets, not necessarily because they are insolvent.  

 

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3 hours ago, LeGOATski said:

Is that illegal?

 

I would love if it came back.

 

It is legal. Macy did it a number of times.  They would put in large orders before bankruptcy, not pay suppliers and then have a big sale on items they did not pay for.  Same thing with new and remodeled stores.

 

My wife was a tailor doing piece work for Karla Colletto (Swimsuit manufacturer in SI Swimsuit issues) and her customer told her.  Macy's did it one too many times and were told by my wife's customer that all items must be paid up front and no returns.  They tried to order via sister company and told same thing.

18 minutes ago, Bangarang said:

I’m just glad Whaley may not be out of work for long

 

Yes you actually have a chance of someone making a bad decision and hiring you.

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Smart, as long as he didn't burn too many bridges. Really bad luck for them to have the pandemic right after they started. I think the XFL deserves another chance.

 

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The amount he spent on the league, combined with all teams being league-owned, the relatively low costs, the people involved in the front office, and the continued fan interest made me surprised it was outright canned anyway.

They were saying the initial investment should've been enough to carry it several years, even with just modest viewership & attendance. Not like they were paying a ton to these players either. Though it sounds kind of shady, this kind of makes more sense than flat out cancelling the league.

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The league did well in some of the cities, not so well in some of the others.  If they relaunch, hope they take that opportunity to re-calibrate.   

 

Whether the NFL likes it or not, a professional alternative league would do the NFL some good in developing players and coaching personnel.  I think that's where the sustainability of the XFL lies - as a true football development league.  It can't complete star for star with the NFL.

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I didn't mind it. And if WWE is still having matches why cant XFL get a couple snaps in?

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Its just gonna go under again, even before the pandemic people were not tuning in. McMahon is just gaming the system, Which in the long run screws over everyone else. 

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32 minutes ago, dpberr said:

The league did well in some of the cities, not so well in some of the others.  If they relaunch, hope they take that opportunity to re-calibrate.   

 

Whether the NFL likes it or not, a professional alternative league would do the NFL some good in developing players and coaching personnel.  I think that's where the sustainability of the XFL lies - as a true football development league.  It can't complete star for star with the NFL.

 

Yes, young prospects like Kevin Gilbride, Pep Hamilton, June Jones, Winston Moss, Bob Stoops, Marc Trestman and Jim Zorn deserve a shot at the NFL.

 

 

How anyone can STILL view this side show (or any and all of its predecessors) as a "true development league" for the NFL is....stunning.

Edited by Mr. WEO

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25 minutes ago, Don Otreply said:

Its just gonna go under again, even before the pandemic people were not tuning in. McMahon is just gaming the system, Which in the long run screws over everyone else. 

Not me. More football, baby!  😃

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21 minutes ago, LeGOATski said:

Not me. More football, baby!  😃

 

How many fans would show up for a Buffalo XFL team?

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3 minutes ago, PromoTheRobot said:

 

How many fans would show up for a Buffalo XFL team?

From what I hear, Buffalonians show out well...

If Vince brings the WWE-style table smashing into the stadium, the sky's the limit.

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