Thread: The XFL has folded (again)
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Old 05-21-2020, 01:28 AM   #98
xrodmuc316
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Quote:
Originally Posted by BigCrippyZ View Post
Apparently, some unsecured creditors are arguing that Vince is trying to buy the XFL at a discount and restart the league, by among other things, offering to repay other unsecured creditors (season ticket buyers) for their "missing" season tickets.

This argument is based on, (1) that as fellow unsecured creditors, the season ticket holders are not likely to ever receive anywhere close to the value owed, if anything, (2) repaying the season ticket holders doesn't actually properly benefit the XFL as a bankrupt entity or its majority creditors but instead benefits Vince, and, (3) is actually an unnecessary expense being offered or used to justify or support the quick bankruptcy in an effort to allow Vince to purchase the XFL at a cheaper price (due to the XFL owing less overall by negating $ owed to season ticket holders) while simultaneously showing goodwill to the season ticket holders despite their lack of priority as unsecured creditors, (4) the XFL offices remaining open with the unnecessary expense that is, and (5) the current XFL president apparently acknowledging the league's attempt to renew their venue leases in some of the XFL's most successful/profitable markets.
Wait, how would Vince buy the XFL if he already owns it?

That has to be some kind of illegal lol
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