The XFL has officially filed for bankruptcy.
After filing for Chapter 11 bankruptcy on Monday, the spring football league confirmed that it will not be returning for a second season in 2021.
The bankruptcy comes after owner Vince McMahon had to cancel the remainder of the XFL season just after five weeks of games due to the Coronavirus (COVID-19) pandemic. Many other sports have had to postpone or cancel their seasons as well.
The XFL issued a statement to TMZ on Monday, addressing the bankruptcy. In addition the league took to twitter on Saturday, airing out some feelings on the situation.
Warning: this tweet contains NSFW language.
For those who loved us, thank you.
For everyone else, fuck y’all. #XFL
— XFL (@realXFLfootball) April 11, 2020
According to league sources close to TMZ, the XFL lost “tens of millions” after cutting the season short. However, even after losing a substantial amount of revenue, the league has paid its employees full wages up until Sunday, April 12.
Recent reports from the Hollywood Reporter have claimed that McMahon is in the process of putting the XFL up for sale. In an attempt to pay creditors, the owner wants to find a buyer for the leagues assets.
Unfortunately, it seems likely that the XFL will not make a comeback. As fun as having spring football was, the COVID-19 pandemic has taken a toll on all sports.
Featured Image Credit: Clutch Points
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