The relaunched XFL got underway in early 2020. When COVID-19 hit, it doomed the finish of the league’s full season back, and ultimately led the league to go bankrupt.
The league left some major debts to its high-profile coaches. Former Oklahoma head coach Bob Stoops was getting $1 million to coach the Dallas Renegades, with others getting mid-to-high six-digits to give the startup league some credibility.
The XFL will return for a third iteration in the near future. The Rock headlines a group that purchased the league last summer, in hopes of finally getting it on firm ground. That doesn’t help the players that were left out in the cold last year, as the pandemic hit the United states.
According to a new report by Daniel Kaplan of The Athletic, the league’s players may get as little as four-percent their unpaid wages claims after the XFL 2.0 went under. And they’ll have to wait to receive those pittance payments.
XFL players to get about 4 percent of their claims after bankruptcy plan administrator decision. My story https://t.co/dpOG6SPdWY
— Daniel Kaplan (@KaplanSportsBiz) June 22, 2021
Per Kaplan, most of the league’s 450 players filed claims for $14,560. They may only get $580 from those claims.
Last week, the administrator Peter Hurwitz wrote the court, he is “prepared to calculate the rejection damages in the amount of $7,280 ($1,040 weekly salary multiplied by seven weeks remaining under the Player Contract).”
However the players will not get $7,280, that is just what Hurwitz determined is a legitimate claim. Farrow estimated players would get eight to 12 percent of that.
The failures of the most recent XFL iteration, as well as 2019’s AAF, have not stopped Dwayne “The Rock” Johnson and others from holding on hope for other pro leagues to succeed. The newest XFL is in talks with the CFL, currently the world’s second most-successful league, about some sort of affiliation. There are also plans to resurrect the old USFL next year.
Whether or not they succeed, hopefully the players don’t get screwed in the process.
The post Report: How Much XFL Players Are Getting From Bankruptcy appeared first on The Spun.