It’s a sad day for XFL fans who were clinging on to a thread of hope after last week’s announcement that the XFL was suspending operations. It looks like it is officially over, as the XFL announced today that it is filing for Chapter 11 bankruptcy.
Week to Forget for Vince McMahon
It has not been a good week for Vince McMahon, who is the founder, CEO and majority owner of both the WWE and the XFL.
After the aforementioned suspension of XFL operations, it was announced WWE would resume live broadcasts, which faced significant backlash, and that an employee had tested positive for the Coronavirus.
Today, in addition to the XFL filing for bankruptcy, it was announced the production of WWE’s next iteration of their 2K game series has been canceled.
WWE rarely, if ever, hits the mark with these games anyway. WWE 2K20 was widely considered the most hated and terribly made WWE game of all time. Though, it is undoubtedly a wise decision to cancel the game instead of rushing an even worse product to market. It will now be just another area in which Vince and the WWE are bleeding money.
XFL Bankruptcy Reveals Investors
It was always said that the XFL was a totally separate entity than WWE and was made up of a sizable outside ownership group. That false narrative ended today when the documents were released to reveal WWE actually owns a 23.5% stake in the company.
Other major investors include Bob Stoops, Marc Trestman and a number of other coaches, ticket suppliers and stadiums.
XFL’s Unreached Potential
The XFL being bankrupt is really disappointing for those of us who watched and enjoyed the XFL. The league could have actually went somewhere this time around and, given time, I believe it could have been a destination for young quarterbacks and other players who don’t want to wait three years or transfer two times just for a chance to play in the NCAA.
The XFL provided us with legitimate football and quality entertainment, and likely changed the lives of players like P.J. Walker and Jordan Ta’amu, among others. It’s unfortunate that we don’t get a chance to see what this league could have turned into. It is especially hard considering the folding of the league was not due to lack of interest, lack of talent or lack of payment, like we saw in the AAF.
I guess all we can hope for now is the announcement of XFL 3.0 in 2039.