XFL officially files for voluntary bankruptcy, issues statement blaming COVID-19

XFL files for bankruptcy

The XFL has officially filed for voluntary bankruptcy.

The league, which was announced as folding last week, filed for Chapter 11 bankruptcy today. Estimated assets and liabilities was listed in the $10-$50 million range. Vince McMahon owned 100% of the Class A Interests and 76.5% of the Class B Interests. WWE also owned 23.5% of the Class B Interests in the XFL. You can view the full filing here.

The XFL issued a statement about the bankruptcy to TMZ:

“The XFL quickly captured the hearts and imaginations of millions of people who love football. Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis. Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football.”