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XFL's Assets to Be Auctioned August 3 After Chapter 11 Bankruptcy Filing
The XFL suspended operations and laid off all employees April 11 before filing for Chapter 11 bankruptcy April 13, naming the COVID-19 pandemic as the reason.
Ben Fischer of Sports Business Daily reported Monday that a judge ruled in favor of the defunct league's auctioning its assets this summer:
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The XFL began its inaugural reboot season in February and played only five weeks' worth of games before the COVID-19 pandemic forced sports around the world to suspend action.
"[XFL CEO] Vince McMahon has pulled out of bidding for his bankrupt XFL, but dozens of bidders are looking over the league's financials and interested in relaunching it next February," The Athletic's Daniel Kaplan relayed last week.
McMahon has been accused of filing for bankruptcy just to buy the league again.
McMahon is also being sued by former XFL Commissioner Oliver Luck over the handling of the latter's contract. Luck is seeking $23.8 million.
The auction is scheduled for Aug. 3 (h/t Pro Football Talk).
