The XFL is no more. After announcing they would be laying off their staff, the league filed for bankruptcy today. The most recent piece of news to emerge is that despite claiming otherwise, WWE owned a portion of the league.
As a result of filing for bankruptcy, documents about the league’s finances were released. Once such document shows that WWE owned 23.5% of Class B Interests in the league. When Vince McMahon sold part of his WWE stock to help fund the league, he stood firm that WWE and the XFL were to be completely separate.
It has now been revealed this was not the case. It is not currently known what the repercussions for this development will be. Withholding information from stockholders can be a very sticky situation especially when large amounts of money are involved. We will continue to provide updates on this situation as they become available.
The league would have been finishing their regular season now had they not been forced to cease operations. The league was five weeks into their regular season when play stopped due to the coronavirus.
What do you think of this development with the XFL and WWE? Let us know on Twitter!
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