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AAF fallout *update* players now getting medical bills for team labwork done in mini camp
Posted on 4/11/19 at 1:36 pm
Posted on 4/11/19 at 1:36 pm
*update*
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LINK
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All of this is being reported by Ruch Ohrnberger who went to Penn St, played for the Patriots, Cardinals, and Chargers, and currently works for Fox Sports Radio.
LINK
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quote:
AAF confirms end of operations, bankruptcy
Bankruptcy trustee will try to sell those contracts to the CFL before cutting the players loose.
LINK
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All of this is being reported by Ruch Ohrnberger who went to Penn St, played for the Patriots, Cardinals, and Chargers, and currently works for Fox Sports Radio.
quote:
All of this per sources…
The plan: Share advertising revenue with radio/TV networks to establish a proven, viable product in year one. Then sell the rights to TV/radio networks in year two...
Rights deals were projected to cover league operations costs. Franchises would eventually be sold for $10-$20 Million. +When the AAF lost a major investor, Tom Dundon was taken to a game “to seal the deal” as a potential investor. He was sold after viewing the product.
Team level executives were repeatedly reassured that there was “3-5 years worth of secured funding” and “any unpaid invoices would eventually be settled” they were coached to explain, “bear with us…we’re a start-up.” The widely publicized week 2 payment “glitch” was explained away by placing blame on the third party payroll company the league was using at the time. The AAF switched to a new payroll company for the remainder of the season.
Within the league there was a rumored power struggle between Charlie Ebersol and Tom Dundon (when Dundon bought into the league and acquired control of the board). Team executives were asked to find new investors during the final 2 weeks of the league's existence. Dundon didn’t know Ebersol was shopping new investors. The last investor who bought into the league at a certain rate (speculated to be $20 Million) would become acting chairman of the board, seizing control from Tom Dundon.
Ebersol appeared at the final game in San Antonio with wife, children and his parents. No entourage. Ebersol addressed the AZ Hotshots team in the locker room post-game. He complimented the team and thanked them for their energy. Some players felt as though the end was near.
All team level employees first learned that the league was ending “like everyone else… through social media.” The first “official” notice team employees received that the league was ending was when “team credit cards were zeroed out." On the day the league shut down, Tom Dundon was golfing. Some team level employees were "enraged and wanted to publicly criticize Dundon's lack of empathy as hundreds of people were losing their jobs."
It was estimated that the league needed roughly $20 Million to finish out the final 2 weeks of the season. Dundon was apparently willing to contribute $10 Million more dollars (on top of the $70 Million invested) to keep the AAF solvent through the end of the season... He pulled the plug on the league before new investor(s) could match that contribution. There were 4 to 6 investors interested up until 0 hour to keep the league afloat. Some team level employees felt Dundon cancelled the league, in part, to spite Ebersol.
Team employees traded on pre-existing relationships in their markets to secure vendor services in short order… many of these vendors still remain unpaid. Many of those relationships are strained or ruined. There is a faction of team level executives who feel "completely mislead" and may attempt legal recourse, potentially pursuing criminal charges.
LINK
This post was edited on 4/24/19 at 10:45 am
Posted on 4/11/19 at 1:40 pm to Dr RC
All of that makes perfect sense. Ebersol took too many chances with "build it and he (investment) will come" but the AAF was working. Then he blew it when put all his eggs in one basket (Dundon).
This post was edited on 4/11/19 at 1:47 pm
Posted on 4/11/19 at 1:44 pm to Dr RC
Just bad management from Ebersol. This reeks of rich kid syndrome. He had no clue what he was doing, and how to attract investors.
Posted on 4/11/19 at 2:01 pm to Dr RC
The sad thing is that the product was really good. The games were entertaining, and the talent level was solidly between watching NY6 bowl games and lower tier NFL games. I liked the timing of having the league play in the spring leading up to the NFL Draft. I even loved the concept of having the talent distributed regionally based on certain franchises getting pipelines from nearby universities. The only real problem for me was being able to watch live games on tv.
Posted on 4/11/19 at 2:06 pm to Dr RC
quote:
The plan: Share advertising revenue with radio/TV networks to establish a proven, viable product in year one. Then sell the rights to TV/radio networks in year two...
Rights deals were projected to cover league operations costs. Franchises would eventually be sold for $10-$20 Million
This was the leagues plan??? Jesus christ
Posted on 4/11/19 at 2:14 pm to Dr RC
quote:
Tom Dundon was taken to a game “to seal the deal” as a potential investor. He was sold after viewing the product.
Should have been red flag numbers 1-100.
Posted on 4/11/19 at 2:23 pm to Dr RC
quote:
The last investor who bought into the league at a certain rate (speculated to be $20 Million) would become acting chairman of the board, seizing control from Tom Dundon.
That seems pretty fricked
Posted on 4/11/19 at 2:41 pm to StealthCalais11
quote:
What an absolute shite show
Indeed. Shameful.
Posted on 4/11/19 at 2:54 pm to Dr RC
I guess the guy footing the bill will have the final say, but it seems kinda silly to allow a decision like folding the entire league to be solely made by one guy.
Posted on 4/11/19 at 3:29 pm to shel311
This is for the best. With these clowns running the show, the XFL would have crushed them.
Posted on 4/11/19 at 3:39 pm to Dr RC
These people keep asking “Football is so popular in this country, why couldn’t a 2nd league work?”
The reality is a 2nd league does exist and is arguably the 3rd most popular league in America. It’s called College Football
The reality is a 2nd league does exist and is arguably the 3rd most popular league in America. It’s called College Football
Posted on 4/11/19 at 4:01 pm to Glorious
quote:
The reality is a 2nd league does exist and is arguably the 3rd most popular league in America. It’s called College Football
College Football is the 2nd most popular league in America.
Above the NBA and the MLB in everything.
This post was edited on 4/11/19 at 4:03 pm
Posted on 4/11/19 at 4:40 pm to Dr RC
frick Dundon.
League didn't deserve to end like this.
League didn't deserve to end like this.
Posted on 4/11/19 at 5:52 pm to AlonsoWDC
I loved it.
College teams feeding to their area aaf teams.
They were great. Watched a bunch of them.
This sucks
College teams feeding to their area aaf teams.
They were great. Watched a bunch of them.
This sucks
Posted on 4/11/19 at 6:03 pm to Dr RC
Donald Trump killed the USFL so we will elect this Dundon cat as president in 2028
Posted on 4/11/19 at 6:15 pm to DollaChoppa
Exactly...none of this makes sense. They started a league without the ability to cover expenses during the first year. Shocking that their plan didn’t work.
Posted on 4/12/19 at 12:37 am to Dr RC
This reads like the Fyre fest documentary
Posted on 4/12/19 at 8:05 am to FightingTigers138
quote:
College Football is the 2nd most popular league in America.
Above the NBA and the MLB in everything.
maybe not baseball
quote:
College football revenue topped $3.4 billion
The record number represents the revenue generated by 126 of the 128 Football Bowl Subdivision (formerly Division 1-A) teams, according to the Department of Education. On top of that, not all revenue taken in by the NCAA (e.g. ESPN's broadcast rights to BCS and college football playoff games) is distributed to the schools.
For comparison, FBS college football is still well short of the revenue generated by Major League Baseball ($8 billion) and the NFL ($6 billion), but it is in the neighborhood of the NBA (~$5 billion) and the NHL ($3.7 billion).
Posted on 4/12/19 at 8:11 am to FightingTigers138
quote:
College Football is the 2nd most popular league in America. Above the NBA and the MLB in everything.
Lmao
College football isn’t as popular over the country like it is in the south.
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