In the least surprising news coming out of the AAF since their termination, the Alliance of American Football has filed for bankruptcy.
According to Front Office Sports, the AAF will be filing for Chapter 7 bankruptcy which is what happens when a business has gone under and is completely liquidating their assets. The failed football league lists about $11 million, over $500k cash, in assets with over $48 million in liabilities.
Much of the assets can be auctioned off like equipment and jerseys. This brings me to my question in the title. Where can I get THE game-worn Johnny Manziel Memphis Express jersey. I am ready to pay an amount that my accounting degree taught me is “dangerous and irresponsible”.
The AAF has also been in the news for blocking their players currently under contract from signing with a CFL team. This is not just because they wanted to be petty about the league closing, but because these contracts could be worth a lot of money to certain teams. Just a last-ditch effort to make some money while they still can. Hopefully, these players will be freed from their contracts thanks to the bankruptcy filing.
Money from sold assets would go to creditors. As of now, it is unknown if they will be able to go after the personal assets of AAF executives.
Well, it’s over. The Alliance of American Football is officially suspending operations. RIPIP, 2019-2019. Thank you for the one highlight of that quarterback getting obliterated that one time. It will not be forgotten. What will be forgotten is the investment of $70 million that is now gone forever.
Back in February, Carolina Hurricanes owner Tom Dundon pledged $250 million to the Alliance. On top of Dundon’s ownership and investment, you probably know Dundon best from the shout out he gets at the end of every Law and Order SVU intro. *Dun Dun. His incremental payments totaled $70 million by the time the AAF was shut down.
Obviously, this ended up being a terrible investment. But in the grand scheme of things, just how back was it compared to other famous wastes of money?
AAF vs. Kirk Cousins As far as investments with no return go, Kirk Cousins is up there with the best of them. You would think adding a better quarterback to team that finished 13-3 the previous season would make them more of a title contender. Turns out, it actually means you miss the postseason. But, was the Kirk Cousins investment worse than the AAF? Yes and no. Cousins’ contract is for 3 years, $84 million and so far, no Super Bowl. We will have to see what the next two years bring.
AAF vs. the Hoover Dam I am blindly following Ron Swanson and agreeing that the Hoover Dam is a travesty. I don’t care how much electricity it provides. The original cost was $49 million so at least it’s not as bad as the AAF.
AAF vs. Tidal Remember when Jay-Z bought Tidal way back in the day? I honestly can’t remember what exactly it did, but I know it flopped almost immediately. Could it have been worse than the AAF? Almost, but no. Tidal originally cost the Jiggaman $56 million to buy the company.
AAF vs. the Ponzi scheme John Elway invested in According to the Denver Post, John Elway once invested in a Ponzi scheme run by hedge fund manager Sean Mueller. Just barely beating the AAF, John Elways investment of $15 million helped the Ponzi scheme end up with $71 million from 60 total investors
AAF vs. Justin Timberlake’s Myspace Investment After the launch of Facebook, the coolest white person in the world, Justin Timberlake, decided he would invest in the failing social network Myspace. JT purchased a $35 million stake in the company to later sell all of his shares for a total of $1. At least he got a larger return than AAF investors.
Let us know what other investments and wastes of money we left out and throw us a follow @soft7sports on Twitter.
The Montreal Alouettes have released former Heisman Trophy winner and Cleveland Brown Johnny Manziel. The termination of his contract came at the direction of the Canadian Football League after it was discovered that Manziel broke the agreement he had with the CFL that made him eligible for the league.
First reported by Ian Rapoport with this tweet:
The CFL has already stated that they will not register a contract if any other CFL team would try to sign him. So what now for Johnny? He still has his podcast with Barstool Sports, Comeback SZN, and is surely going to return to the United States to explore football opportunities.
I just want him to know that he still has fans here. In fact, I will be rocking his neon orange #2 Browns jersey in Indianapolis this weekend for the NFL Combine. I want to watch him thrive in football again like he did in college. If only there was a professional team in Texas that plays competition similar to college teams…
Dare I say… time for a move to the AAF? I am sure the San Antonio Commanders would love to have him.
I have watched my fair share of AAF games and I can tell you one thing. They do no live up to the hype. We were expecting some quality football after the Super Bowl and all we were given was a minor league disappointment.
The League is in shambles, it is going under financially, and it needs a savior. When humanity needed a savior, God sent Jesus. When the AAF needs a savior, who will God send? Again, Jesus Christ himself… Mr. Tim Tebow.
Here are 8 quarterbacks that would be perfect for the AAF.
Tim Tebow Touchdown Timmy says he is all in on baseball, but I don’t buy it. If an NFL team came knocking, he would drop the Mets organization like a girl trying to take his virginity. Hard to believe that a guy who spent his whole life trying to perfect one sport would just give up on it.
Johnny Manziel I am sure that you could tell this one was coming. Look, Canada is cold and the only thing he should be backing up is a Range Rover into his parents’ garage door. Come home to Texas, Johnny. The defenses in the AAF are similar to the bad defenses in the SEC which is where you shined.
Jay Cutler How great would it be if Jay Cutler and Steve Spurrier teamed up? The only play in their playbook would be Four Verticals. Fifty yard bombs every play. They wouldn’t even need to punt, because the ball would eventually get intercepted way down the field. I know he is probably told old, busy with the Cutlets (his kids) and his tv show; not to mention that there is no way he gives enough of a shit to have anyone tell him what to do anymore. Regardless, I am sure that there are plenty of Bear’s fans that want to see Mr. Fourth Quarter suit up again.
Mark Sanchez Sanchez is just so good at embarrassing himself. I don’t think that I appreciated it enough the first time around. If given a second opportunity, I promise not take it for granted.
Nathan Peterman I have heard that the AAF has been having a problem with scoring lately. Wanna guarantee at least two touchdowns by opposing defenses every game?
Brock Osweiler It is incredible that this man is still on an NFL roster and I am not (no invite to the combine yet again *sadface). 6’7″ is a great height for a quarterback in theory, but in game it has not proved to mean that much. In practice, it must be okay since that is the only squad he is ever going to make in the NFL.
Chad Kelly and Maty Mauk Wanna get real honest for a sec? The only reason I want these guys to suit up again is because I have not heard anything about them in a while and want to know if they are okay. We all heard about $wag Kelly getting arrested for drunkenly walking into a stranger’s house and getting cut from the Broncos. Haven’t heard a thing since. But what about Maty? Could someone check up on him for me? Last I heard, he was at Eastern Kentucky.
Welcome back to another round of Saturday Morning Sports Trivia. As always we love all of you for your minds and we want to put them too the test. I miss football dearly so I am making this trivia about the only active football league right now, the Alliance of American Football.
Who is the head coach of the Orlando Apollos?
Who scored the first points in AAF history?
Teams are divided into regions meaning the Birmingham Iron have priority on former Alabama players. What college does the Memphis Express have priority over?
What two schools did Orlando QB Garrett Gilbert play for?
Matt Asiata is the running back for the Salt Lake Stallions. What NFL team did he play for for 5 years?
Two teams share location names with current NFL teams. Name both.
What college did Memphis Express QB Christian Hackenberg play for?
In the 2010 NCAA National Championship, Garrett Gilbert replaced what quarterback after he was injured during the game?
What must happen after every touchdown scored in the AAF?
What TV station does the AAF have a contract with to broadcast all games?
Matching– Match the AAF player to their respective college.
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