REPORT: XFL asks St. Louis about possibly reinstating lease agreement


ST. LOUIS (KMOX) — The XFL might not be dead after all. Daniel Kaplan of The Athletic is reporting the founder of the XFL, Vince McMahon, may be readying to buy his creation out of bankruptcy. The league went into Chapter 11 bankruptcy protection in April.

Related: St. Louis largest listed creditor XFL bankruptcy filing Kaplan reached out to XFL officials about whether McMahon filing for Chapter 11 may have been a ploy to restart the league. The league's response? “The response to this filing will speak for itself.”
In response to XFL parent company Alpha Entertainment's proposal to repay $3.5 million in season ticket refunds, a Delaware bankruptcy court committee stated “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.”

There may be a controversial buyer for Vince McMahon‘s bankrupt XFL. Vince McMahon. My story

— Daniel Kaplan (@KaplanSportsBiz) May 20, 2020

Kaplan also reports XFL president Jeffrey Pollack has reached out to St. Louis and Seattle about reinstating the league's lease agreements. Employees, from team staff and players to likely the XFL Commissioner itself, would need to be rehired. Oliver Luck, the former commissioner, is suing the league for over $23 million dollars over his termination.

Are the @XFLBattleHawks about to fly again?The Athletic's @KaplanSportsBiz says the XFL has reached out to St. Louis and Seattle about restarting the league's lease agreements.Here's what we know: #XFLBattlehawks #KaKaw

— KMOXSports (@KMOXSports) May 20, 2020

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