According to Dave Meltzer on today’s edition of Wrestling Observer Radio, the bankruptcy filing by XFL has hurt the standing and reputation for Vince McMahon.
Meltzer spoke to sources in New York, and Vince McMahon declaring bankruptcy for XFL “in a sense” hurt his reputation because Meltzer’s sources know McMahon is worth “billions” and that he reportedly earmarked $300 million to spend on the XFL revival.
Meltzer states that despite earmarking $300 million for the return of the XFL, McMahon did not end up spending that much on it
“Essentially, he’s [Vince] screwing the people who he worked with: the coaches, the arenas, the stadiums I should say. A lot of the people he owed money to are the stadiums.”
A report on the bankruptcy stated that XFL hopes to maximize its asset value in order to pay creditors, and the process is underway to find a potential buyer.
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