XFL President Jeffrey Pollack has confirmed the acquisition, although the arrangement is contingent upon court approval.
“I could not imagine a better outcome for the XFL," Pollack said. "Dany, Dwayne and Gerry are the best possible ownership group for the exciting journey ahead. Their collective track-record of success in entertainment, sports and media is stellar, and I think our fans, players, coaches, and partners are in for something special.”
As alluded to in the statement above, Johnson's ex-wife and business partner, Dany Garcia, is also included in the XFL deal.
The XFL, a professional football league consisting of eight teams, filed for bankruptcy protection earlier in the year following the coronavirus outbreak. A successor to the original XFL, Vince McMahon revived the league after an announcement in 2018, however, the inaugural season was cut short, with just five weeks of play being completed due to the pandemic.