Realty One

Wednesday, April 17, 2019

ALLIANCE LEAGUE DECLARES BANKRUPTCY

SAN ANTONIO - The Alliance of American Football is officially out of business.

The eight-team league that folded after eight games of its initial season ceased all business operations and filed for bankruptcy Wednesday.

“The AAF is committed to ensuring that our bankruptcy proceeds in an efficient and orderly manner,'' the league said in a statement. “Pursuant to the bankruptcy laws, a trustee will be empowered to resolve all matters related to the AAF's remaining assets and liabilities, including ongoing matters related to player contracts.''

Founded by Pro Football Hall of Fame executive Bill Polian and TV/film producer Charlie Ebersol, the AAF was hoping to become a developmental league.

However, a few weeks after Carolina Hurricanes owner Tom Dundon became the Alliance’s majority owner, he shut it down, citing an inability to reach agreement with the NFL players' union on the availability of players.
(Associated Press)

2 comments:

Anonymous said...

Maybe Dundon needed the tax write off!

Randolph Charles said...

If it was to be a 'real league' they should have demanded a handsome franchise fee from the teams, as the big four do. Then the league would have the ability to patch through if a couple of franchises weren't doing so well. After all, they had a TV contract and people were watching. They were close to putting it all together.