More details have surfaced regarding former XFL Commissioner Oliver Luck filing a lawsuit against Vince McMahon, the owner of the XF, for wrongful termination.
McMahon folded the league after 20 games due to the coronavirus outbreak. Dave Meltzer gave an update regarding the situation on the latest episode of the Wrestling Observer Radio.
Although not officially known due to the documents being sealed, the belief is that Luck was supposed to get between $20-25 million over five years. That’s the reason that he left his spot in the NCAA to take the job with the XFL.
Luck was promised the money and it was not contingent on the league surviving. Thus, McMahon did something very interesting, some would say shady. That was firing Luck the day before he closed the league. He ceased all communication with Luck then sent a letter to Luck that listed all these reasons why Luck was fired.
Another interesting twist was that McMahon actually lost little money with the league. Despite telling people that he was putting in $500 million to keep the league going over three years, he only lost $44 million not including the debt he now owes.
McMahon loaned himself the money and is the biggest creditor listed.
“Because he loaned whatever it was nine million dollars so he’s now the actual leading debt the person that they owe the most money to. Luck isn’t even on the list nor is the executives because of just cause essentially because they ran the company so well but it lost way less money than everyone thought so that’s what they were fired for evidently.”
Meltzer added that McMahon loaned the league money so the XFL could make the last two payrolls before it was announced that the league had fired everyone.