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Dwayne Johnson

Dwayne Johnson is to become a co-owner of the revamped XFL American football league after agreeing a deal to buy out his old WWE boss Vince McMahon.

The league was set to go to a bankruptcy auction this week, but Johnson, his ex-wife and current manager Dany Garcia, and RedBird Capital have closed a deal to acquire the XFL's parent company, Alpha Entertainment, for $15 million.

In a statement to The Hollywood Reporter, XFL president Tom Pollock called the deal "a Hollywood ending" for the troubled league, which originally ran for one season in 2001. An attempt to relaunch the competition was halted by the COVID-19 pandemic earlier this year.

Johnson added: "The acquisition of the XFL with my talented partners, Dany Garcia and (RedBird chief) Gerry Cardinale, is an investment for me that's rooted deeply in two things - my passion for the game and my desire to always take care of the fans.

"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."

Garcia said she and her ex-husband plan to develop the XFL brand into "a multi-media experience that our athletes, partners and fans will proudly embrace and love."

Before finding fame as one of the WWE's top wrestlers, the Skyscraper star played American football at the University of Miami.

The sale of the league is subject to bankruptcy court approval, which will be decided at a hearing this Friday, with the deal expected to close on Aug. 21.