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Football News: XFL Files For Bankruptcy & Hangs For Sale Sign

It didn’t take long for the XFL to make sports headlines once again as it was announced this morning that the freshly new XFL had filed for Chapter 11 bankruptcy in Delaware.

From what looked like to be a very successful return for the most part, the revamped XFL did not have a chance to fully take off with the shortening of the season due to the COVID-19 pandemic that forced all of sports to halt. The filing comes just one business day after the league laid off most of its employees and halted all operations.

The XFL released the following statement regarding this mornings filing:

“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.”

The XFL had listed its assets and liabilities around the amounts of $10-$50 million. According to sources, the league could be sold during the bankruptcy process as well.

This would be WWE Owner Vince McMahon’s second attempt in professional football as he brought the XFL to life once before in 2001. Sadly, that stint only lasted one season. Much like 2011, this season was quick to end with only 10 games being completed before the halt due to the pandemic.

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