There is currently the belief amongst some that the XFL’s second death is still not the final nail in the coffin for the league. Vince McMahon’s twice ill-fated football league filed bankruptcy earlier this year after the global pandemic hit.
According to a report from the Athletic’s Daniel Kaplan, some XFL creditors believe Vince McMahon’s plan is to wait out the pandemic before buying the league back at a “fire sale” price.
It is also being reported that XFL President Jeffrey Pollack has contacted stadiums in St. Louis and Seattle about reinstating lease agreements.
Creditors have also been led to this conclusion based on a plan to repay $3.5 million to season ticket holders. The XFL’s creditors believe this is a goodwill gesture to ticket holders in the attempt to win them back when McMahon buys back the league.
McMahon would then have to completely rebuild the league from scratch in order to start over again. This would also involve hiring a new league commissioner after McMahon fired Oliver Luck shortly before filing for bankruptcy. Luck has since filed suit against McMahon for money he says he is owed on the remainder of his contract.
Luck’s team contends that his contract states he is owed the remainder of his contract if he is terminated without just cause. McMahon’s team is arguing that Luck was terminated with cause.
The XFL cancelled the remainder its season on March 12th, 2020. The league then filed for bankruptcy on April 13th.