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The Coronavirus continues to wreak havoc on the world financially. One brand who couldn’t not stop the hemorrhaging and is seeking relief from their creditors.
TMZ is reporting that the XFL has officially filed for bankruptcy. According to the article Vince McMahon’s professional football league has also folded. A representative detailed the needed but unfortunate decision. “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” they revealed.https://www.instagram.com/p/B-uawCzgODG/Sources close to Harvey’s team say that Covid-19 practically crippled their 2020 season forcing the start up to end all their programming early. Fortunately the XFL is trying to do the right thing by refunding ticket buyers and paying out their employees up until April 12 plus any accrued vacation days. Some of their creditors allegedly include head coaches Bob Stoops ($1,083,333.33), Mark Trestman ($777,777.78), Jonathan Hayes ($633,333.33), Winston Moss ($583,333.33) among others.You can watch some of their best highlights from the 2020 season below.