There is a fight over money.
In April 2019, the end came for the Alliance of American Football with the scoreboard reading Chapter 7. For those who don’t know what Chapter 7 is, the explanation is reasonably simple. You have gone out of business and filed the notice with a court. The next step is the court appointing a trustee to take a look at what you have in assets and what your creditors want. The trustee will figure out how to sell those assets, like players contracts. The AAF management signed a bunch of players to longer term contracts and decided a few could go to the National Football League but not to the Canadian Football League. Apparently, the players’ contracts, not the real human beings who played in the AAF, were saleable assets. The story of the AAF is not done yet. There is some money around from the failed business venture and one of the business’s investors, Tom Dundon wants some of his money back and his lawyer is arguing before a judge that Dundon not the players should be first in line to get whatever few bucks are still in some bank account tied to the AAF. Chapters 1-6 of the AAF book will eventually be written and used in sports business management college courses.
The AAF put out a statement in April 2019. “We are deeply disappointed to be taking this action. The AAF is committed to ensuring that our bankruptcy proceeds in an efficient and orderly manner. 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.” That has not happened. Dundon was supposed to be the angel investor that would put the AAF onto the road to survive, now he wants some money back.
Evan Weiner’s books are available at iTunes – https://books.apple.com/us/author/evan-weiner/id595575191
