XFL files for bankruptcy, pursuing sale
The XFL’s parent company, Alpha Entertainment, filed for Chapter 11 bankruptcy in Delaware on Monday. The filing also indicates the league is for sale.
“On March 20, 2020, the XFL canceled the remainder of its inaugural season, costing the nascent league tens of millions of dollars in revenue,” reads the filing submitted by XFL President and Chief Operating Officer Jeffrey Pollack, according to Law360.com. “The impossibility of knowing when the pandemic would sufficiently abate and allow the league to restart only exacerbated the problems posed by the Debtor’s abrupt loss of revenue and unabated operating costs. After considering all available strategic options, the Debtor and its professional [advisers] determined that the best course to preserve and maximize the value of the Debtor’s estate is through a chapter 11 sale process.”
On Friday, the XFL suspended operations and laid off most of its employees. The XFL owned all eight teams, meaning that the sale of any assets includes “football equipment, merchandise, and intellectual property” including team names and logos.
Through the end of February, 14 XFL games had been played. In that time, the league says its year-to-date revenue was about $14 million but its net losses in that time were about $44 million.
The XFL was halfway through its 10-week regular season when it pulled the plug on the remainder of its campaign. Players were allowed to sign with the NFL or CFL beginning March 23. At that point, the league was still hopeful to resume play next year. As of Monday afternoon, 19 XFL players have joined NFL clubs.
Kyle Larson suspended for use of racial slur
NASCAR has indefinitely suspended Kyle Larson, driver of the No. 42 Chevrolet Camaro, for saying a racial slur during an iRacing event on Sunday evening. The sanctioning body issued the penalty on Monday morning.
“NASCAR has made diversity and inclusion a priority and will not tolerate the type of language used by Kyle Larson during Sunday’s iRacing event,” the statement from NASCAR said. “Our Member Conduct Guidelines are clear in this regard, and we will enforce these guidelines to maintain an inclusive environment for our entire industry and fan base.”
In addition to suspension, NASCAR is requiring that Larson attend sensitivity training under its Member Conduct Guidelines. Larson has also been indefinitely suspended from using the iRacing platform, and condemned by at least one major sponsor.
“Last night I made a mistake and said the word that should never, ever, be said,” Larson said in an apology video posted on Twitter shortly after noon Monday. “There’s no excuse for that; I wasn’t raised that way. It’s just an awful thing to say.”
Former NFL QB Tarvaris Jackson dies in crash
Tarvaris Jackson, a quarterback who started 34 games over his 10-year NFL career, died Sunday night in a single-car crash in Alabama. He was 36.
Jose Garcia, a spokesman for the Tennessee State football team, confirmed Jackson’s death. Jackson spent last season as the Tigers’ quarterbacks coach.
Jackson was traveling on a road south of Montgomery, Ala., when his 2012 Chevrolet Camaro left the roadway, struck a tree and overturned. He was taken to a hospital, where he was later pronounced dead.
A police investigation is ongoing.
Selected by the Vikings in the second round of the 2006 NFL draft out of Alabama State, Jackson played five seasons in Minnesota, and while splitting time with Gus Frerotte, helped the team to the NFC North title in 2008. But Jackson was relegated to a full-time backup role with the Vikings in 2009 when Brett Favre came out of retirement, and he started only one game over his final two seasons in Minnesota.