WWE Drops on Report The Rock Is Buying XFL League From McMahon

Aug. 3, 2020, 3:33 PM

World Wrestling Entertainment declined as much as 5.2% Monday, the most in almost two months, after a report from Sportico said a group of investors including Dwayne “The Rock” Johnson bought Vince McMahon’s XFL football league for $15 million.

  • Johnson teamed up with Gerry Cardinale’s RedBird Capital to purchase the league only hours before a scheduled auction for the bankrupt league, according to the article
    • Johnson’s business partner, Dany Garcia, who is also his ex-wife, will be an equal stakeholder with him, report said
  • WWE has 8 buys, 6 holds, 2 sells; avg. PT $52: Bloomberg data
  • NOTE: ...

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