The XFL changed hands multiple times across its three eras. Vince McMahon founded the league twice, and Dwayne Johnson purchased it out of bankruptcy. Here is the complete ownership history of the XFL from 2001 to 2023.
The Original XFL: NBC and WWE Partnership (2001)
The first XFL was not solely owned by Vince McMahon. The league operated as a 50-50 joint venture between NBC and WWE Properties International. The two corporations formed XFL, LLC as a single-entity league headquartered in Delaware.
McMahon originally wanted to purchase the Canadian Football League and bring it to the United States. The CFL rejected that plan. NBC had lost its NFL broadcasting rights to CBS in 1998 and wanted back into professional football. The two parties invested $100 million to launch the XFL.
The partnership lasted one season. NBC lost $35 million and refused to broadcast a second year. McMahon attempted to continue the league with UPN and TNN, but UPN demanded he cut WWE SmackDown from two hours to 90 minutes. McMahon rejected those terms and shut down the XFL on May 10, 2001.
Alpha Entertainment Era (2018-2020)
McMahon announced plans to revive the XFL on January 25, 2018. This time, he owned the league outright through Alpha Entertainment, a separate company from WWE. McMahon pledged $500 million from his personal funds to back the investment.
The new XFL positioned itself differently from the 2001 version. McMahon removed the professional wrestling elements and focused on football. He hired Oliver Luck as CEO and Commissioner to oversee operations.
Pennsylvania football fans who followed the XFL during its 2020 return often used sports betting websites PA to place wagers on games. The league generated nearly $20 million in gross revenues and averaged 1.9 million television viewers per game before COVID-19 ended the season.
The XFL suspended operations on March 12, 2020, after five weeks of play. Alpha Entertainment filed for Chapter 11 bankruptcy on April 13, 2020. Court filings listed assets and liabilities between $10 million and $50 million. McMahon fired Oliver Luck on April 9, and Luck sued for wrongful termination seeking $23.8 million.
A key stipulation of the bankruptcy agreement barred McMahon from buying back the XFL.
The Dwayne Johnson Era (2020-2023)
Dwayne Johnson, Dany Garcia, and Gerry Cardinale purchased the XFL for $15 million on August 3, 2020. The sale occurred hours before a scheduled auction. A bankruptcy court approved the purchase on August 7, 2020.
Johnson played college football at the University of Miami from 1990 to 1994. He also played professionally for the Calgary Stampeders in the CFL. Garcia served as Johnson’s business partner and ex-wife. Cardinale operated RedBird Capital Partners, an investment firm with stakes in the New York Yankees and YES Network.
The new ownership group spent two years rebuilding the league. They hired Russ Brandon as president and retained several executives from the McMahon era. ESPN signed a five-year broadcasting deal reportedly worth between $100 million and $150 million.
The XFL returned on February 18, 2023, with eight teams. The Arlington Renegades won the championship that May. The league averaged 14,703 fans per game.
The Merger and Dissolution
On September 28, 2023, Johnson and Garcia announced plans to merge the XFL with the USFL. The combined league became the United Football League in December 2023.
Johnson and Garcia retained ownership stakes in the UFL alongside Fox Sports. The XFL was formally dissolved on October 7, 2025. Four XFL teams continue to compete in the UFL’s XFL Conference.
