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#1
The AAF is officially bankrupt.
The AAF is also fighting multiple lawsuits with the potential for more down the road. Two former players have already filed a class-action case against the league,
including Dundon and CEO Charlie Ebersol, claiming the players were
misled and defrauded. One former AAF coach told CBSSports.com that
another could be on the way representing coaches, as well.
Ben Kerchevel CBS Sports
A
copy of the filing from Front Office Sports shows just how bad the
damage is. In all, the AAF had accumulated more than $48 million in
liabilities, including more than $38 million in unsecured claims. That
is compared to $11.3 million in assets and just over $500,000 in cash on
hand.
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