Axios

The XFL has launched a Hail Mary to find a new owner, one month after the filing for Chapter 11 bankruptcy protection.

Driving the news: Investment bank Houlihan Lokey is managing the process, with letters of intent due by June 12, according to a pitch deck obtained by Axios. Formal bids are due on July 6.

With U.S. sports nearly two months into their indefinite hiatus, leagues have finally begun updating their ticket refund policies, directing teams to decide for themselves how they'd like to proceed.

Why it matters: This should give fans struggling financially amidst the pandemic a clearer path towards recouping cash in the short term.

While sports are still a long way from resuming normal schedules and staging events in front of thousands of fans, May looks to be the month when we will finally get the chance to watch real live sports on TV again.

Why it matters: For better or worse, sports serve as a barometer of how countries are handling the coronavirus.

The Korea Baseball Organization (KBO) season began late Monday night, and with ESPN set to air six live games each week, it's time we get to know what this league, which began in 1982, is all about.

The state of play: In the world baseball hierarchy, talent evaluators rank the KBO beneath MLB, NPB (Japan) and AAA (MiLB), but above AA, High A, CPBL (Taiwan) and Low A.