THE XFL IS FILING FOR BANKRUPTCY BLAMING THE CORONAVIRUS FOR COSTING THEM $50 MILLION PLUS DOLLARS
The XFL was fun again while it lasting for their second go at things, but sadly things ended from Covid-19 aka The CoronaVirus. Via ESPN the XFL has filed for Chapper 11 bankruptcy claiming they have liabilities around $10 Million to $50 Million. The St. Louis Sports Commission was listed as the league’s largest creditor in addition to seven of the XFL’s eight head coaches. The league cited the coronavirus as a major reason behind the bankruptcy filing:
“The XFL quickly captured the hearts and imaginations of millions of people who love football. Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis. Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. 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.”
No word on if their will be a 2021 XFL season yet!