The XFL Is up for Sale

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XFL Football Draft
From XFL.com

If you thought that the XFL 2.0 was gone , not quite yet.

According to Dan Primack of Axios, Vince McMahon has put the XFL up for sale. Axios obtained documents that show an investment bank, Houlihan Lokey, is managing the process. Parties interested in purchasing the XFL need to submit a letter of intent by June 12. Formal bids for the league are due on July 6.

According to a pitch deck obtained by Axios, the league was on track for $46 million in revenue last year. With an average game attendance of 20K and 1.9 million average broadcast viewers for their nationally distributed games.

The XFL’s bankruptcy was filed under Chapter 11. Chapter 11 is used for a company to reorganize. Chapter 7 is to liquidate all assets which the XFL did not do.