Kemo
04-21-2020, 08:11 PM
Former commissioner of the XFL, Oliver Luck, is suing Vince McMahon. Luck is suing for money that he was guaranteed upon accepting the position to run the league in May of 2018.
His XFL contract was believed to be worth $20-25 million over 5 years. It stipulated he was to receive all money owed if terminated without cause.
Luck was not listed as a creditor from the XFL’s bankruptcy filings earlier this month. This was as a result of a judge approving Alpha Entertainment’s rejection of several top-executive contracts. As a result, Luck’s only recourse to recoup his losses from the league’s folding is to sue McMahon.
“Luck’s contract was not with McMahon personally. Will the court be convinced that McMahon’s pledge to provide his own money adds personal liability? Seems to be a stretch,” stated lawyer Darren Heitner with Heitner Legal in regard to the suit.
Several XFL coaches were listed as creditors in the XFL’s bankruptcy filings, however.
Bob Stoops – owed $1.08 million
Marc Trestman – owed $777,777
Jonathan Hayes – owed $633,333
The XFL officially filed for bankruptcy on April 13th, 2020. The league issued the following statement to TMZ:
“We have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football.”
Bankruptcy filings revealed WWE owned 23.5% of the league.
His XFL contract was believed to be worth $20-25 million over 5 years. It stipulated he was to receive all money owed if terminated without cause.
Luck was not listed as a creditor from the XFL’s bankruptcy filings earlier this month. This was as a result of a judge approving Alpha Entertainment’s rejection of several top-executive contracts. As a result, Luck’s only recourse to recoup his losses from the league’s folding is to sue McMahon.
“Luck’s contract was not with McMahon personally. Will the court be convinced that McMahon’s pledge to provide his own money adds personal liability? Seems to be a stretch,” stated lawyer Darren Heitner with Heitner Legal in regard to the suit.
Several XFL coaches were listed as creditors in the XFL’s bankruptcy filings, however.
Bob Stoops – owed $1.08 million
Marc Trestman – owed $777,777
Jonathan Hayes – owed $633,333
The XFL officially filed for bankruptcy on April 13th, 2020. The league issued the following statement to TMZ:
“We have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. This is a heartbreaking time for many, including our passionate fans, players and staff, and we are thankful to them, our television partners, and the many Americans who rallied to the XFL for the love of football.”
Bankruptcy filings revealed WWE owned 23.5% of the league.