McMahon to Fund XFL Defense in Ex-CEO’s Wrongful Firing Suit

Oct. 28, 2020, 8:30 PM

XFL founder Vince McMahon has agreed to finance the bankrupt professional football league’s defense in a wrongful termination case brought by former Commissioner and CEO Oliver Luck.

McMahon’s agreement with the league and a committee of its unsecured creditors, which still needs court approval, would give McMahon the right to file any counterclaims on XFL’s behalf.

The former XFL owner would receive one-third of any proceeds resulting from those counterclaims. The bankruptcy estate of XFL’s parent company, Alpha Entertainment LLC, would get the remaining two-thirds.

Alpha Entertainment filed a motion to approve the agreement with the U.S. Bankruptcy Court for ...

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