Days after announcing that they were laying off all of their workers, the XFL has filed for bankruptcy. In the bankruptcy filing at the U.S. Bankruptcy Court in Deleware, it is estimated that the XFL has between $10 and $50 million in assets and liabilities.
The XFL, like all other sports, was suspended last month due to the Covid-19 pandemic and the bans of the gathering of large crowds. In a statement, the XFL said, “it wasn’t insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis.” The League added, “this is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football.”
Back in 2001, the XFL played one season of spring football but failed to garner the interest seen in the fall and winter football of the NFL. Making a second attempt, the XFL had eight teams set to play a 10 game season. The League played half of the season before it was shut down by the virus and the ban on crowds.