XFL files for bankruptcy due to coronavirus

Business News

Alpha Entertainment, the parent company behind the XFL, suspended operations on April 10 and the league wasn’t expected to return in 2021 due to the coronavirus pandemic.

The XFL folded with assets and liabilities each in the range of $10 million to $50 million, according to ESPN. St. Louis Sports Commission, a nonprofit organization that promotes major sporting events for the city, was the largest creditor in the filing at $1.6 million. Among the eight coaches in the league, seven were listed as among the top creditors.

The XFL said it wasn’t “insulated from the harsh economic impacts” of the pandemic, despite capturing “the hearts and imaginations of millions of people who love football.” As such, the league and its parent company filed a voluntary petition for relief under Chapter 11.

“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,” according to the statement.

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