The XFL filed for bankruptcy in April, just months after it debuted.
Dwayne "The Rock" Johnson announced he is the new owner of the league and says he is going to build it into "something special for the players, fans, and everybody involved for the love of football.”
Johnson and his business partner/ex-wife Dany Garcia bought the league for $15 million.
The eight-team league attracted more than 3 million viewers per game in its first week, though that dipped to around 1.5 million just before the shutdown.
The acquisition still needs to be approved by a bankruptcy court.
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