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Vince McMahon’s XFL Has Shuttered And Filed For Bankruptcy…Again

Courtesy of ZeroHedge View original post here.

This time it was supposed to be different.

But it ended the same: with Vince McMahon signing his name on a bankruptcy declaration for the XFL.

The league’s “comeback” season has ended in unceremonious fashion as the coronavirus pandemic has forced the league to once again shutter. The Chapter 11 bankruptcy filing was put into process days after the league laid off its employees and revealed that it had no plans for a 2021 season. 

McMahon executed his written consent for bankruptcy as the sole voting member on Sunday, according to Law & Crime. The document, filed for McMahon’s Alpha Entertainment, LLC, reads:

“The undersigned, being the sole voting Member of Alpha Entertainment LLC, a Delaware limited liability company (the ‘Company’), hereby adopts the following resolutions, by written consent, effective as of the date hereof,” the filing began. “WHEREAS, the Company desires and has requested that John Brecker and Vincent K. McMahon each serve as a Liquidating Agent (as defined in the LLC Agreement) of the Company and, in such capacity, to commence a case (the ‘Chapter 11 Case’) under chapter 11 of title 11 of the United States Code (the ‘Bankruptcy Code’) and manage the business and affairs of the Company during the Chapter 11 Case.”

According to the LA Times, the league’s coaches rounded out the list of its largest creditors. “The creditors include seven of the league’s eight head coaches, led by Bob Stoops of the Dallas Renegades ($1 million) and Marc Trestman of the Tampa Bay Vipers ($777,777). Winston Moss, who served as coach and general manager of the Los Angeles Wildcats, is owed $583,333.”

“Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis,” the XFL said in a statement.

“It’s done and it’s not coming back,” one person was quoted as saying.

Here’s a look at the XFL during the fonder days of the 2020 season:


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