The Alliance of American Football league may have met its demise.
The upstart football league announced it is suspending all football operations Tuesday in just its eighth week.
New owner Tom Dundon made the decision against the wishes of league co-founders Bill Polian and Charlie Ebersol, according to Darren Rovell of the Action Network.
Dundon effectively bought a majority stake in the league for $250 million, just as news was spreading that the league failed to pay some of its players after the first week of action.
Dundon’s funding was on a week-to-week basis and he is set to lose approximately $70 million on the deal, Rovell said.
Why It Matters
AAF garnered some decent momentum right out of the gate and gave hope to other alternative sports leagues. It was seen as a potential platform to test out new rules and give players another shot at the NFL.
The shuttering of the league could be further evidence that one professional football league is all that's sustainable in the U.S.
All eyes will now rest on the XFL, which is set to launch in 2020.
World Wrestling Entertainment, Inc. (NYSE: WWE) Chairman Vince McMahon announced in 2018 that he was bringing back the former XFL in name and logo only — a "gimmick-free version," according to ESPN.
The difference is that funding likely will not be an issue, at least in the first year, with McMahon recently selling another 1 million in WWE stock to self-fund the league.
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Photo courtesy of the AAF.
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