SURVIVOR SERIES
3
THE XFL has filed for bankruptcy after onlyhalf a season following the coronavirus pandemic.
The eight-team professional football league, the brainchild of WWE owner Vince McMahon, had already been forced to scrap the rest of its fixtures last month because of Covid-19.
⚠️ Read our coronavirus in sport live blog for the latest news & updates
3
3
Alpha Entertainment, the company that owns the XFL, confirmed that they had suspended operations and laid off its staff on Friday.
In a statement released on Monday, the league said: "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."
Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis.
XFL
At the time of its forced shutdown last month, league leaders promised the XFL's return in 2021 but bankruptcy seemingly spells the end of McMahon's second attempt to start a football venture.
The wrestling tycoon launched XFL as a joint venture between WWE and NBC back in 2001.
But it flopped badly and lasted just one season before it was scrapped.
McMahon had sold £18million worth of WWE shares - flogging 306,000 shares to buyers - to finance the relaunch of his XFL venture.
Although the billionaire promised the XFL would be completely separate from his wrestling company this time, legal documents online list WWE as in control of 23.5 per cent of Class B shares with the rest held by the 74-year-old.
Give now to The Sun's NHS appeal
BRITAIN’s four million NHS staff are on the frontline in the battle against coronavirus.
But while they are helping save lives, who is there to help them?
The Sun has launched an appeal to raise £1MILLION for NHS workers.
The Who Cares Wins Appeal aims to get vital support to staff in their hour of need.
We have teamed up with NHS Charities Together in their urgent Covid-19 Appeal to ensure the money gets to exactly who needs it.
The Sun is donating £50,000 and we would like YOU to help us raise a million pounds, to help THEM.
No matter how little you can spare, please donate today here
Most Read in WWE
The alternative football league had actually garnered solid TV coverage and was well-received by fans during it's latest iteration.
The XFL was advertised as complimentary rather than a competitor for the NFL.
It had eight franchises this season and played five games out of a planned 10-game schedule.
WWE chief Vince McMahon’s salary confirmed as Triple H and Stephanie McMahon both receive £15k pay rise