As PWMania.com previously reported, Dwayne “The Rock” Johnson along with his ex-wife Dany Garcia and Gerry Cardinale’s RedBird Capital have purchased the XFL football league just hours before a planned auction was scheduled to begin.
In an update on the story, Alpha Entertainment’s Committee of Unsecured Creditors filed a motion to stop the sale of the league. The motion cites that Alpha Entertainment “has an ongoing obligation to negotiate terms with the Proposed Buyer that are most favorable to the estate and do not unduly prejudice its creditors. The proposed APA, however, does not reflect such terms and seeks to strip the estate of valuable assets for no consideration. As such, the Committee has significant concerns that the Sale contemplated with the Proposed Buyer does not satisfy the sound business purpose test, and is not in the best interests of the Debtor’s estate.”
Dave Meltzer of F4WOnline.com noted the following regarding Garcia’s reaction to the headlines:
“Of all the things, I don’t know if this is concerning or not, but she got mad because all the headlines said Dwayne Johnson and she said she put up the same amount of money as he did, she’s got the same ownership stake as he did, and she’s going to be making just as many decisions as he is and she’s not in any headline, every headline is about him. I’m like if you’re already worried about that then that’s not a good first day to me.”
