XFL Bankrupt
No more football from the XFL (for now, probably forever).
Bankrupt.
The XFL's parent company filed for bankruptcy on Monday, three days after suspending operations due to the coronavirus pandemic.
When the coronavirus outbreak hit the U.S. last month, the XFL suspended the season indefinitely, following the example set by the NBA, NHL and MLB. On Friday, however, the league moved to halt all operations, dismissing most of its employees and announcing it had no plans to return next year.
As recently as three weeks ago, the league had pledged to return in 2021.
According to the filings, there are between 1,000 to 5,000 creditors and the list of the 25 largest creditors illustrates the depth of the financial issues encountered by the league. The breakdown features the owners of stadium leases, such as MetLife Stadium owner New Meadowlands Stadium Company, which is owed $368,000, and the St. Louis Sports Commission, which is the XFL's biggest creditor and is owed $1.6 million.
Broadcasting services provider Bexel NEP is the second-largest creditor on the list and it is owed $1.2 million by the league.
Seven of the league's eight teams head coaches also feature among the league's 25 biggest creditors. Dallas Renegades' head coach Bob Stoops is owed just under $1.1 million, while his Tampa Bay Vipers colleague Marc Trestman is owed $777,777 and their St. Louis BattleHawks' counterpart Jonathan Hayes is yet to receive $633,333 in payments.
(https://www.newsweek.com/xfl-bankruptcy-vince-mcmahon-wwe-1497721)
To be honest, I had not watched much XFL action on TV. What I did watch was very entertaining. They definitely were trying some new things to liven up the game and shake-up the action. My understanding is that St. Louis was really going gangbuster for their "Battlehawks".
The fact that 7 of your 25 biggest creditors are the head coaches is not a good deal at all. The XFL only had 8 teams -- so wonder which coach is not in the top 25? And why?
(The line-up of head coaches was outstanding! See: https://www.xfl.com/en-US/articles/meet-the-xfl-coaches-and-coordinators)
Grace & Peace & Love to you all -
Matt
Bankrupt.
The XFL's parent company filed for bankruptcy on Monday, three days after suspending operations due to the coronavirus pandemic.
When the coronavirus outbreak hit the U.S. last month, the XFL suspended the season indefinitely, following the example set by the NBA, NHL and MLB. On Friday, however, the league moved to halt all operations, dismissing most of its employees and announcing it had no plans to return next year.
As recently as three weeks ago, the league had pledged to return in 2021.
According to the filings, there are between 1,000 to 5,000 creditors and the list of the 25 largest creditors illustrates the depth of the financial issues encountered by the league. The breakdown features the owners of stadium leases, such as MetLife Stadium owner New Meadowlands Stadium Company, which is owed $368,000, and the St. Louis Sports Commission, which is the XFL's biggest creditor and is owed $1.6 million.
Broadcasting services provider Bexel NEP is the second-largest creditor on the list and it is owed $1.2 million by the league.
Seven of the league's eight teams head coaches also feature among the league's 25 biggest creditors. Dallas Renegades' head coach Bob Stoops is owed just under $1.1 million, while his Tampa Bay Vipers colleague Marc Trestman is owed $777,777 and their St. Louis BattleHawks' counterpart Jonathan Hayes is yet to receive $633,333 in payments.
(https://www.newsweek.com/xfl-bankruptcy-vince-mcmahon-wwe-1497721)
To be honest, I had not watched much XFL action on TV. What I did watch was very entertaining. They definitely were trying some new things to liven up the game and shake-up the action. My understanding is that St. Louis was really going gangbuster for their "Battlehawks".
The fact that 7 of your 25 biggest creditors are the head coaches is not a good deal at all. The XFL only had 8 teams -- so wonder which coach is not in the top 25? And why?
(The line-up of head coaches was outstanding! See: https://www.xfl.com/en-US/articles/meet-the-xfl-coaches-and-coordinators)
Grace & Peace & Love to you all -
Matt
