AAF files for bankruptcy
The Alliance of American Football filed for Chapter 7 bankruptcy Wednesday.
"We are deeply disappointed to be taking this action," the league said in a statement obtained by Action Network's Darren Rovell. "The AAF was created to be a dynamic, developmental professional football league powered by an unprecedented alliance between players, fans, and the game. The AAF strove to create new opportunities for talented players, coaches, executives, and officials while providing an exciting experience for fans. We are proud of the fact that our teams and players delivered on that goal."
The AAF suspended operations April 2 due to a lack of funds. The association attempted to turn itself into an NFL affiliate but encountered little cooperation from the NFL or NFL Players Association.
BREAKING: @TheAAF has filed for Chapter 7 Bankruptcy.
- Front Office Sports (@frntofficesport) April 17, 2019
- In the filings, the league claims assets of $11.3 million and liabilities of $48.3 million.
- According to the documents, the league has $536,160.68 in cash. pic.twitter.com/IsOlGi2yoO
AAF players received permission to begin signing NFL contracts April 4.
The league failed to complete its first season. The inaugural championship game was supposed to be played April 27 in Frisco, Texas, after it was relocated from Las Vegas.
The Orlando Apollos held the best record in the AAF at 7-1 when operations were suspended.
Copyright (C) 2019 Score Media Ventures Inc. All rights reserved. Certain content reproduced under license.