Via Pro Football Talk:
The XFL declined comment to Kaplan regarding the potential strategy that would, if effective, allow McMahon to escape debt at a time of devastated revenue and re-emerge on the other side of the pandemic with a clean slate.
The clues as to the creditors’ beliefs come from their objection to a proposal in bankruptcy to pay $3.5 million in season-ticket refunds. The committee of creditors wrote that the payment “is being sought to further the efforts of the debtor’s controlling equity holder/secured lender, Vincent McMahon . . . to acquire the debtor at a fire-sale price.”
The ticket refunds would be aimed at bolstering relations with customers, in anticipation of a future business arrangement.
Let’s hope this is going to happen. The XFL was a hit prior to the pandemic and with plenty of XFL players signed by NFL teams it would be a shame if the league didn’t make another comeback.
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