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Vince McMahon addresses claims he’s trying to buy back the XFL
It appears that Vince McMahon isn’t trying to buy back the XFL after all.
McMahon decided to fold the second attempt at the XFL last month as the pro football league filed for Chapter 11 bankruptcy in the state of Delaware.
The league is looking for a buyer for its assets. Earlier this month, Daniel Kaplan of The Athletic put out a report that noted how XFL creditors “seem to believe” McMahon is positioning to buy the league out of bankruptcy.
The idea behind this belief was that it would allow McMahon to escape debt that the league has following the inaugural season and for him to have a clean slate should he want to try to launch the league back up once the coronavirus pandemic is over.
In an update, ESPN’s Kevin Seifert reported on Tuesday that the latest filing states McMahon straight out stated in a deposition, “I’m not going to be a bidder.” He also stated regarding the claims of him trying to buy back the XFL that they were “inflammatory rhetoric and unsubstantiated accusations.”
Finally, McMahon said he put in “at least” $200 million into the XFL.
In a filing today in bankruptcy court, Vince McMahon said he will not be a bidder for the XFL. The unsecured creditors committee had previously objected to the proceedings, saying McMahon was trying to rig the process to buy back the league without fully paying back debtors.
— Kevin Seifert (@SeifertESPN) May 26, 2020
"I'm not going to be a bidder," McMahon said in a deposition. The filing called the claims "inflammatory rhetoric and unsubstantiated accusations."
— Kevin Seifert (@SeifertESPN) May 26, 2020
Also in the filings: McMahon said he put in “at least” $200 million into the XFL, which shuttered after five weeks of games due to the coronavirus pandemic.
— Kevin Seifert (@SeifertESPN) May 26, 2020