XFL’s bankruptcy filing reveals league owes $1 million to Dallas Renegades’ Bob Stoops
The employees of the Dallas Renegades were told they were fired, and now they are unable to clean out their office.
In one of pro sports’ all-time flops, the re-launch of the XFL, which was met with much fanfare three months ago, is ending in a bankruptcy court.
On Monday, the league filed for Chapter 11 bankruptcy protection. The bankruptcy was filed on behalf of Alpha Entertainment, which is owned and operated by WWE chairman Vince McMahon.
Renagades employees were told on Friday that the league was suspending operations permanently, and that everyone was immediately fired.
On Monday, when many of them returned to their offices in Dallas to retrieve personal belongings from their offices, the doors were shut.
Among the notables listed to be paid in the filing is Renegades head coach Bob Stoops. According to the bankruptcy filing, the former Oklahoma Sooners coach was paid more than $1 million by the XFL. The list of credits states that the XFL owes Stoops exactly $1,083,333.33. He would have been the highest-paid coach in the XFL.
Other notable debts include $777,000 to Tampa Bay Vipers head coach Marc Trestman, who earlier in his career served as head coach of the Chicago Bears. The other six head coaches are due around $600,000 each.
The filing will allow AlphaEntertainment to pay all of its creditors at full value, but anything the XFL committed to in terms of future expenses is gone.
On Friday, some XFL employees hoped that the move would be a temporary one. With the number of sports suspending operations due to the coronavirus, the hope was that the league would return someday.
However, with Monday’s court filing for bankruptcy protection, that hope appears all but gone.
This story was originally published April 13, 2020 at 6:44 PM.
