Dwayne 'The Rock' Johnson, investor group buy XFL for $15M

Aug. 3 (UPI) -- Actor Dwayne "The Rock" Johnson is part of an investor group that has purchased the XFL for $15 million.

"With my trail blazing [business] partner Dany Garcia and RedBird Capital Partners, we have acquired the XFL," Johnson tweeted Monday.

"With gratitude and passion I've built a career with my own two hands and will apply these callouses to our XFL 2020 brand. Excited to create something special for the fans!"

The XFL declared Chapter 11 bankruptcy in April and has twice been forced to shut. The league first launched in 2001, but had to close after one season. Owner Vince McMahon then re-launched the league in February before it again ceased to operate after one season.

The latest version of the XFL lasted for five weeks before the eight-team league suspended play in April due to the coronavirus pandemic. The XFL laid off nearly its entire workforce amid the pandemic.

The investor group's purchase of assets from the XFL's parent company, Alpha Entertainment LLC, is subject to bankruptcy court approval at a hearing Friday and is expected to close on Aug. 21.

RedBird Capital Partners is a private investment firm founded by Goldman Sachs Partner Gerry Cardinale. RedBird Capital Partners manages more than $4 billion in assets.

"We are grateful for today's outcome," XFL President and COO Jeffrey Pollack said in a news release.

"This is a Hollywood ending to our sale process and it is an exciting new chapter for the league.

"Dwayne, Dany [Garcia] and Gerry [Cardinale] are a dream team ownership group and the XFL is in the best possible hands going forward."

Johnson, 48, ranked No. 1 on Forbes' list of the world's ten highest-paid actors in 2019 after he made $89.4 million between June 1, 2018, and June 1, 2019.

He also ranked No. 10 on Forbes' highest-paid celebrities of 2020, with an estimated $87.5 million in earnings.

Johnson played football at the University of Miami before he was cut from the Canadian Football League in 1995. He then worked as a wrestler for the WWF and WWE -- wrestling leagues owned by McMahon -- before he began his career as an actor.