Earlier this month, The Athletic had published an article saying that XFL creditors believed that XFL founder Vince McMahon was attempting to buy back the league at a “fire-sale price.” This comes after he decided to declare bankruptcy with the league.
McMahon reportedly claimed in a deposition that he will not bid on the bankrupt football league, per ESPN’s Kevin Seifert.
The unsecured creditors suspected that McMahon was attempting to ride out the COVID-19 pandemic, which would allegedly result in McMahon avoiding paying the operating costs for the league, and he’d be able to reacquire later for a bargain price.
McMahon is denying this is the case on his end.
In a filing today in bankruptcy court, Vince McMahon said he will not be a bidder for the XFL. The unsecured creditors committee had previously objected to the proceedings, saying McMahon was trying to rig the process to buy back the league without fully paying back debtors.
— Kevin Seifert (@SeifertESPN) May 26, 2020
