XFL files for bankruptcy due to coronavirus

The XFL filed for bankruptcy after canceling the rest of its return season last month because of the coronavirus pandemic.

The league said in an emailed statement that it wasn’t insulated “from the harsh economic impacts and uncertainties caused by the COVID-19 crisis.”

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“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,” the league said.

The filing in U.S. Bankruptcy Court in Delaware estimates the organization has between $10,000,001 and $50 million in both assets and liabilities.

XFL has filed for Chapter 11 bankruptcy listing both assets and liabilities in the range of $10-50 million.

There is a breakdown of ownership with WWE listed in control of 23.5% of Class B shares with the rest held by Vince McMahon.

Attached are the top eight creditors. pic.twitter.com/BNsgV1NEKt
— John Pollock (@iamjohnpollock) April 13, 2020