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Restructuring

XFL Kicks Off Plan for Summer Sale

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Published: June 22nd, 2020
Parent Alpha Entertainment looks to set a July 6 bid deadline ahead of a July 8 auction for the football league's assets.

XFL parent Alpha Entertainment LLC has filed a motion calling for a sale of the defunct football league’s assets this summer.

Alpha in its Tuesday, April 21, motion said it sought a buyer for its intellectual and personal property, which includes the league’s “For the Love of Football” slogan; the XFL brand and trademarks; and equipment, merchandise and IP of the league’s eight teams, which were owned by the league.

Under the proposed timetable, bids would be due July 1 for consideration as lead bidder, and all offers would be due July 6. Alpha would hold an auction July 8 if necessary, with a sale hearing following July 13.

The debtor said it was in the process of selecting an investment banker.

Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for the District of Delaware in Wilmington is set to consider the bidding procedures for the sale on May 13.

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