Many hands are out as part of the sale of the XFL. From Vince McMahon, who used his own cash to move the XFL to Bankruptcy, to season ticket holders waiting for a refund. Many parties want to be made whole with the pending sale. One of those entities is The University Of Houston.
Houston was the home of not only the Houston Roughnecks. It was also the place where the initial XFL training camps took place. It could also be home to a future XFL 2021 season as well. So it makes sense why the XFL is making sure they get paid.
From the latest court filing.
“Upon information and belief, the Parties are in agreement of a cure amount of $729,444.25.2 The University asserts that an additional $112,500 is due (for a total of $841,944.25) under the Venue Use Agreement for field replacement which has already occurred and costs and expenses have already been incurred. While the second installment payment of $112,500 is not due until May 2021, the University is aware that an argument could be made by a prospective purchaser in a sale that such amount accrued pre-petition and therefore should have been included in the cure amount. As a result, the University is filing this Objection to preserve the issue.
WHEREFORE, the University respectfully requests that the Court permit the University to preserve the issue that the referenced $112,500 shall be due and owing under the terms of the Agreements upon any assumption and assignment, and grant the University such other and further relief, both at law and in equity, to which the University may justly be entitled.”
Before the shut down of the XFL, there was talk of doing a 12-week made for TV tournament without fans for the 2021 season. We reported about this 12-week tournament-style approach back in May.
The XFL already has a great relationship with the city of Houston. Including announcing XFL’s championship game which would have been held in Houston, Texas at the TDECU Stadium.
Could the reason the XFL wants to make sure The University Of Houston gets paid from the sale, is they need that relationship for the 2021 season. We could find all this out next week when the sale of the XFL is announced.
