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New XFL owner to be named in August – and it won’t be Vince McMahon

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A judge has ruled in favor of the XFL auctioning its assets this summer, with the result that the bankrupt football league will have a new owner by early August.

XFLThat owner will apparently not be founder and current owner Vince McMahon, who last month was reportedly strategizing on how to buy the XFL out of bankruptcy and retain ownership. Those reports were later denied by the Stamford-based league and McMahon, who is also WWE’s CEO and chairman; the latter declared in a court filing, “I’m not going to be a bidder, not going to have anything to do with it.”

The same filing stated that over 20 parties have inquired about the XFL and have signed nondisclosure agreements.

Bids are due July 30, according to an order signed by Judge Laurie Selber Silverstein.

“The debtor has articulated good and sufficient business reasons for this court to approve the bidding procedures, including the scheduling of bid deadlines, an auction and a sale hearing with respect to the proposed sale,” Silverstein wrote.

Rumored to be among the companies taking a look at acquiring the XFL is Fox/Disney – at least according to a report on XFL News Hub – while a CBS reporter has floated the idea that the NFL should buy the XFL as “a developmental league.”

The auction is scheduled to begin Aug. 3, with the new owner to be named Aug. 7.

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