XFL has filed for Chapter 11 bankruptcy listing both assets and liabilities in the range of $10-50 million.
There is a breakdown of ownership with WWE listed in control of 23.5% of Class B shares with the rest held by Vince McMahon.
Attached are the top eight creditors. pic.twitter.com/BNsgV1NEKt
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"No, the XFL is a separate entity completely. We have 400 employees and the kickoff, of course, is this coming Saturday. It's completely separate," Vince McMahon when asked in February if WWE would have a stake in XFL. Turns out WWE had 23.5% of Class B shares.
Oh, and there's another wrinkle to this. He owned 80% of the XFL. The WWE owned 20%, which was considered "fair value" for the right to the trademarks. If he buys back the XFL out of bankruptcy, he owns it all. He wouldn't have to share 20% of the company with WWE shareholders.