Just like the Disney families other assets like ESPN, FOX has chimed in on the sale of the XFL. In a similar move to ESPN, FOX will also distance itself from the sale but is open to working with new XFL ownership.
From today’s court filing FOX lawyers laid out their plans.
“the Debtor and Fox agree that in light of the current economic and business operating environment, including COVID-19 related complications and uncertainties: (a) the Debtor would not seek to assume, nor would interested bidders desire an assignment of, the Agreement in its current form; and (b) certain modifications to the Agreement would be necessary as part of any potential assumption or assignment thereof”
FOX is still interested in the XFL but their agreement, if their partnership would to continue would need to change.
“the Debtor and Fox are in cooperative discussions regarding Fox’s continued possible role as a broadcast and distribution partner for the XFL, the Sale Process, and the potential modification of the Agreement in a manner that would enable its assumption and assignment to a successful bidder in connection with the Sale Process.”
The bottom line is the old agreement is out, under new XFL ownership a new agreement would be in the works.
“Fox and the Debtor agree to work in good faith modify the Agreement in a manner that will enable the potential assumption and assignment of the Agreement to the successful bidder in connection with the Sale Process.”
It sounds from the court filing that given a new owner, FOX is on board for the return of the XFL 3.0. Having a strong broadcast partner like FOX is a great sign for the sale process. The question is, will FOX be the one who owns the league.
We will get closer to that answer in the next two weeks. Today July 23rd marks the deadline for the Stalking Horse Bid. This means the XFL will select a bidder from its pool of bidders to begin the sale/ auction process.
We have heard of up to 40 interested parties in the XFL. Stay with XFL News Hub as we get closer to a new ownership.
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