Dwayne 'The Rock' Johnson and RedBird Capital have agreed a $15million deal to purchase the XFL.
The Hollywood actor and former WWE superstar, who played college football for the Miami Hurricanes before making his name in wrestling, teamed up with the private equity firm to buy the league hours before a scheduled auction.
The XFL was relaunched by WWE CEO Vince McMahon in 2020 following an unsuccessful one-season existence back in 2001 but was forced to file for bankruptcy after the coronavirus pandemic forced the cancellation of its season.
Confirming the sale, which is subject to bankruptcy court approval, XFL president Jeffrey Pollack said: "This is a Hollywood ending to our sale process and the start of a fantastic new beginning for the XFL with the best possible ownership group going forward."
In quotes reported by ESPN's Kevin Seifert, Johnson said: "With pride and gratitude for all that I've built with my own two hands, I plan to apply these callouses to the XFL, and look forward to creating something special for the players, fans, and everyone involved for the love of football."