Blog Entry

Wanted: Millionaire Willing To Throw Money Away

Posted on: March 6, 2008 6:22 pm
 

Whoever wrote this press release gets the positive spin award. It's obvious the All American Football League is dead before it ever gets started.

You'll remember the AAFL was going to debut in April at various stadiums, mostly in the Southeast. It had the unique (I guess) twist of employing only college grads. Hey, who didn't want to see Shane Matthews again at The Swamp? Apparently, a lot of people.

Don't believe the second paragraph of the release that blames the downturn in the "subprime mortgage crisis." Well, it could be that or it could be that the Florida franchise had sold less than 3,000 season tickets.

I've got a better chance of starting at shortstop for the Yankees than the AAFL has of landing a TV contract.

The joke of this league was that it was being run in their retirement afterlives by former august educators like Cedric Dempsey (NCAA executive director) and Charles Young (UCLA president). Hey, anything for a buck right?

Anyway, save all those AAFL souvenirs. They'll be worth something someday.

The press release that moved on Thursday ...

ALL AMERICAN FOOTBALL LEAGUE® LOOKING FOR NEW MAJORITY OWNER 

In an attempt to secure kickoff of its inaugural season as well as its long-term future and success, the All American Football League has begun discussions to explore multiple financing options.

Since inception, the League's finances have been indirectly tied to the $300 billion federally guaranteed student loan asset backed securities market.  In August, the subprime mortgage crisis began spreading into other sectors such as municipal bonds and federally guaranteed student loans.  The situation, which was considered to be temporary at the time, has continued to worsen.  

Despite the fact that the Federal Reserve has repeatedly lowered interest rates during this financial crisis, their efforts have not yet restored liquidity in many asset backed markets, including municipal bonds and student loans.   

The League held its inaugural draft in January, and the team rosters and staffs are all in place.  All teams are scheduled to open training camp Wednesday if liquidity can be immediately restored.

Every effort is being made to insure that the '08 season will be played as planned, but  this  depends upon a locating new majority owner with the needed liquidity, which in turn depends upon the League being able to finalize a TV deal.  Otherwise, the inaugural season will be postponed to '09.

Category: NCAAF
Tags: AAFL
 
Comments

Since: Dec 19, 2006
Posted on: March 8, 2008 12:10 am
 

Wanted: Millionaire Willing To Throw Money Away

What subterfuge?  People just did not/do not want to see it.  At least not in sufficient numbers to support the league financially. 



Since: Jan 21, 2008
Posted on: March 7, 2008 3:42 pm
 

Wanted: Millionaire Willing To Throw Money Away

And they probably won't get their $3 just to go away either.



Since: Dec 23, 2007
Posted on: March 7, 2008 3:15 pm
 

Wanted: Millionaire Willing To Throw Money Away

Funny thing, dacey, there was a similar effort to kill the XFL.

Both the XFL and AAFL saw themselves as "developmental leagues"! Why does the NFL use subterfruge to step on the toes of these efforts? They need to spend the same amount of time handling issues in their own backyard(Spygate, over-penalizing for celebration).

I liked the model of the AAFL a lot. In theory, it should've worked.




Since: Feb 14, 2008
Posted on: March 7, 2008 12:45 pm
 

Slander and disinformation

Okay, your an employee of CBS and you write what the NFL and CBS tells you to write.  Your opinion has been bought and paid for. The NFL and the big news meida with big money contracts with the NFL wants to kill off All American Football League....just a group of college graduates who want to play some football and help build and contribute to their community.  I still have hope that the AAFL will make it.  Not dead yet, not dead until there is no more hope.  The NFL and CBS and ESPN is throwing everything they have to stop the AAFL.  If they succeed it will be a sad day.



Since: Dec 19, 2006
Posted on: March 7, 2008 11:39 am
 

Wanted: Millionaire Willing To Throw Money Away

Hey, how about Vince McMahon?  No.  Well, what about Donald Trump?  No.  How about whoever thought up the World Football League? 



Since: Jan 25, 2007
Posted on: March 6, 2008 8:09 pm
 

Wanted: Millionaire Willing To Throw Money Away

I live in Birmingham and I am not surprised even a little bit this happened. No one was going to support this! Now I thought they might get a game or 2 in before the league folded but nope. Is it just me or shouldn't the AAFL have seen if they could get a TV contract first! Oh well.. It would be nice to see Birmingham get a real professional team because I am such a big sports fan. But hell will freeze over long before that happens!  The funny thing is that Florida I think was leading the way with season ticket sales.... Ouch...



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