According to a filing in bankruptcy court, Vince McMahon will not bid on the XFL.
On May 19, The Athletic reported that XFL creditor's believed McMahon would try to buy the XFL out of bankruptcy court in Delaware after XFL president Jeffrey Pollack called venues in St. Louis and Seattle about reinstating the lease agreements. The unsecured creditor's committee had previously objected to the bankruptcy proceedings, saying McMahon was trying to rig the process to buy back the league without fully paying back debtors.
The committee wrote in a series of filings, “This is an unnecessary expenditure designed to buttress the Debtor’s argument that an abbreviated sales process is required and is being sought to further the efforts of the debtor’s controlling equity holder/secured lender, Vincent McMahon (“McMahon”), to acquire the debtor at a fire-sale price. … The debtor cannot possibly know at this time whether issuing refunds to season ticket holders will preserve the value of the debtor estate’s or benefit any creditor, other than possibly McMahon.”
In the new filing made on Tuesday (via ESPN's Kevin Seifert), McMahon says in a deposition, "I'm not going to be a bidder." McMahon called the claims "inflammatory rhetoric and unsubstantiated accusations."
The XFL, which was five weeks into its comeback season when the COVID-19 pandemic struck, shutdown on April 10 and filed for Chapter 11 bankruptcy three days later.
