The AAF (Alliance of American Football) has filed for bankruptcy. This comes after the AAF only lasted eight weeks before the league suspended operations earlier this month.
Front Office Sports reported on Wednesday that the AAF filed for bankruptcy. You can see the filing here:
The league was in trouble before it started due to former USFL player Reggie Fowler, who was the AAF’s primary investor not coming through with a $28 million payment around Christmas. NHL’s Carolina Hurricanes owner Tom Dundon then came aboard as the primary investor and funded it.
Dundon gave $250 million in funding and also became the league’s chairman. They couldn’t make it work as the AAF was reportedly losing $10 million per week before pulling the plug.
The Sports Business Daily reported this month that the AAF “was already running out of money” and “was on life support” before the season started back in February, which led to the suspension of football operations taking place.
It’s been reported that WWE Chairman and CEO Vince McMahon declined the request offered by the AAF to merge with his second attempt at launching the XFL. McMahon, who owns the XFL under Alpha Entertainment, shot down the offer in December 2018.
The relaunch season for the XFL kicks off in 2020 on Saturday, February 8 and Sunday, February 9.