The XFL has already filed for bankruptcy but they are hoping to maybe find a way out by selling the league to someone else.
According to Dan Primack of Axios.com, Houlihan Lokey, an investment bank, is leading the process of looking for a different buyer.
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The letter of intents are due to Houlihan Lokey by June 12th.
Formal bids will be due by July 6th, with agreements looked at after that date.
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