The XFL filed for bankruptcy on Monday in a move that wasn’t really all that surprising considering the ongoing pandemic and the league’s infancy, and on Tuesday morning, some interesting additional news surfaced to help explain why this happened.
An article at TMZ suggests that the league was bleeding a lot of money – “tens of millions” – after the league was forced to stop play, losing out on revenue from the remainder of the games.
Despite this, all employees will be paid up until April 12 – both full wages and any accrued vacation days – and anyone who purchased tickets to any of the games will be issued a refund.
A league spokesperson had these comments:
“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.”
We will keep you posted here at eWrestling.com on any XFL news and/or updates on their bankruptcy filing and potential closing of the football league again as news continues to filter in.
UPDATE on #XFL #bankruptcy filing:
* Why it happened, #COVID/#coronavirus issues
* How #WWE is to blame for #XFL2020 failure
* When #XFLfootball will officially close down (#live #sports, #football, #sportsnews)FULL STORY HERE: https://t.co/GrvU0Cw16W pic.twitter.com/EwxgPVIi8D
— Matt Boone (@MattBoone1984) April 14, 2020
WWE / AEW News, Rumors & *Spoilers* (Latest Updates)
* More On Vince McMahon Suddenly Making Drastic Change To WWE’s Plans & Possible Reason Why
* WWE Suffers First COVID-19 (Coronavirus) Positive Test (UPDATED x3)
* Nia Jax Shoots On Ronda Rousey, Says She Wants To “Knock Her Out”
* New WWE Championship Title Belt Being Introduced On TV Soon (*Spoiler* Photos)
* Several Superstars Unite, Campaign To WWE Management To Lift Longtime Ban
* Edge Describes Long-Awaited WrestleMania Return Not Going As He Envisioned
* Backstage Undertaker/WWE Update: American Badass Return Plans, The Deadman’s Retirement
* Edge Finally Reveals A Weekly Ritual Of His That You’d Never Expect (Unseen Video)
* Behind-The-Scenes Photos Of WrestleMania Boneyard Match Set, Undertaker Before PPV
* Paul Heyman Hand-Picked Replacement WrestleMania Match, Update On NXT Star Moving To RAW
* AEW Star Shows His Surprise Marriage Proposal To Fellow AEW Star (Video & Photos)
* Ric Flair Reads Private Texts He Sent Undertaker & Stephanie McMahon After WrestleMania 36
* Dark Side Of The Ring: Brawl For All (Full Episode Video)
WWE & AEW Discussion At eWrestling.com
* For late-breaking WWE & AEW news & rumors, follow our social media reporter on Twitter @MattBoone1984
* Follow the official eWrestling account on Twitter @eWrestlingCOM
* Follow the official eWrestling Facebook page at Facebook.com/eWrestlingCOM
* Chat with other fans about this article in the official eWrestling Disqus feed below, or at Disqus.com/home/forums/http-ewrestling-com
