UPDATED 04/13/20, 3:05 p.m. ET: Vince McMahon's football league has officially filed for bankruptcy. 

"The XFL quickly captured the hearts and imaginations of millions of people who love football," a league spokesperson told TMZ. "Unfortunately, as a new enterprise, we were not insulated from the harsh economic impacts and uncertainties caused by the COVID-19 crisis. Accordingly, we have filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code."

The XFL reportedly lost "tens of millions in revenue" after the coronavirus pandemic forced the league to shut down regular season and playoff games.

"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," the spokesperson added.

Employees have been paid full wages up until April 12, and ticket holders will be refunded. 

See original story from 4/10/2020 below.

The rate of unemployment continues to balloon amid the coronavirus pandemic.

Now, the XFL announced it has halted operations and laid off its entire staff just one month after canceling its regular season, according to ESPN's Field Yates.

Yates reports that employees were told about the league’s decision on Friday.

Mike Garafolo added that staff will receive pay through Sunday. “After that, could be curtains. There was no discussion of when operations could restart,” he writes.

COVID-19 has impacted sports across the board. In March, the NBA suspended its season and the NCAA canceled its tournament. The NFL followed suit, shuttering all team facilities in the wake of the virus—though, just last week, Trump said he doesn’t believe the pandemic will delay the NFL season.

In March, unemployment saw a historic high, surging to 3.28 million in the week ending March 21. The following week, the number of claims doubled, hitting 6.867 million. It has slightly dipped since then, with 6.606 million claims filed in the week ending April 4.