As everyone is trying to enjoy the Summer od 2020. XFL fans need to keep a keen eye on the following dates. These relate to the potential auction and perhaps restart of the XFL in 2021.
These dates are part of the recent Chapter 11 bankruptcy filings.
- June 3, 2020 – Service of Notice of Assumption and Assignment Notice
- July 13, 2020 4:00 p.m. (ET) – Sale Objection Deadline Cure Cost/Assignment Objection Deadline
- July 23, 2020 – Stalking Horse Bid Deadline
- July 30, 2020 4:00 p.m. (ET) – Committee Sale Objection Deadline
- July 30, 2020, 5:00 p.m. (ET) – Bid Deadline
- August 3, 2020, 10:00 a.m. (ET) – Auction
- August 5, 2020, 12:00 p.m. (ET) – Post-Auction Objection Deadline
- August 7, 2020, 10:00 a.m. (ET) – Sale Hearing
“A stalking-horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on the firm’s remaining assets. “
investopedia.com
So the real action will begin on July 23rd as the lowest price is set for the XFL. Basically a bidder is selected and they set the price for the bidding to start.
Potential buyers will submit their bids by July 30th, then the auction for the XFL starts on August 3rd. Ending with a new owner of the XFL on August 7th.
We have heard from multiple sources that there are big time players interested in purchasing the rights to the XFL. Stay with XFL News Hub was we watch this all play out.
