Vince McMahon sold the XFL due to the financial impact of the COVID-19 pandemic. The XFL had to cancel its inaugural season in March 2020 due to the pandemic, and the league filed for bankruptcy in April of that year. McMahon initially tried to buy back the league from bankruptcy but eventually decided to sell it to a group led by Dwayne “The Rock” Johnson, his ex-wife, and a private investment firm. The exact terms of the sale have not been disclosed publicly.