AAF files for bankruptcy, documents show massive debt owed by the league
If you have any money to spare, the Alliance of American Football League sure could use it.
The former spring football league that abruptly ended operations a few weeks short of completing its first regular season has recently filed for Chapter 7 bankruptcy and documents show the league has outstanding liabilities close to $50 million with assets of over $11 million available.
While former CEO Tom Dundon pledged to provide $250 million to the league one week into the inaugural season, he was not required to pay that money upfront and after providing around $70 million, the league’s former CEO decided to pull the plug on the AAF.
Without his full investment, the league didn’t stand a chance at surviving.
The AAF’s filings were discovered and shared online by Front Office Sports on Twitter:
What a joke this league was. At least a few players got some exposure and now have a chance to make an NFL roster.
And to think you wanted the NFL scout team players to come over and play in this league.
What was it you said they earned?
$129,000 a year? And didn’t you say that was the cap?
And then with a little research we found out there is no ceiling cap on what salary they could earn.
What to wiggle out of that one?
Keep searching!
I knew those unis looked too cheap.
Who starts a league without even enough money to get it through two weeks?
Who signs a deal that basically says “Hey come in, finance the league for a few weeks to see how you like it, if it’s not for you, keep your money and you still own the league.”?
Who couldn’t have found a better way to convince people never to invest themselves in a spring football league?