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MORE DETAILS ON TODAY'S XFL ACQUISITION

By Mike Johnson on 2020-08-03 10:23:00

The official name of the company that purchased the XFL this morning is Alpha Acquico, LLC , listed in the bankruptcy court as a joint venture of The Garcia Companies and Redbird Capital Partners Management LLC.

The United States Bankruptcy Court for the District of Delaware noted in a filing today that since they were the only "qualified bidder" that came to the table, the auction for the XFL today was canceled.

The XFL purchase for Alpha Acquico, for $15 million, brings them all of the XFL assets.    They also agree to take on "certain specified liabilities" and finance $8.5 million towards any payments that are needed to cure previous financial defaults from the old owner.

The official sale will take place on 8/7 during a court hearing with everything officially set to be closed by the end of the month.

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