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XFL Report: League Files For Bankruptcy After Losing "10s of Millions"

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TMZ has reported that just before the XFL closed it's doors it filed for Bankruptcy. It is reported that the XFL did pay all employees up to April 12th including any and all vacation time accrued. The purpose of the move to file for bankruptcy was to minimize the impact on investors. 

Below is a statement given by an XFL official to TMZ

"The XFL quickly captured the hearts and imaginations of millions of people who love football."

"Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis."

"Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code."

"This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football."

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