IOW, it was working...Meanwhile, 44 have moved on to the NFL.
IOW, it was working...Meanwhile, 44 have moved on to the NFL.
Yep. It apparently was working everywhere but the finances.IOW, it was working...
Funny how now that we know more details, those of us who were so supportive have turned. I had no idea these guys were the dirtbags they apparently are.Why would they block these guys from playing in the CFL? Man, any sympathy or goodwill people had towards those running this league is pretty much shot.
Rtr
https://www.behindthesteelcurtain.c...t-filed-against-alliance-of-american-footballFormer Birmingham Iron punter Colton Schmidt and Orlando Apollos linebacker Reggie Northrup have filed a lawsuit alleging breach of contract, fraud and false promise against Dundon and Ebersol among other claims, the full details of which are available to view here.
https://www.washingtonpost.com/spor...uld-take-center-stage/?utm_term=.956792b12327The league’s demise was ugly: Players were kicked out of hotel rooms and found their belongings in the lobby and in some cases had to pay hotel bills themselves. Some players were without transportation home from team facilities.
Yeah, that’s a reference to what happened to the Memphis players. Some had to rent cars to get home cause they couldn’t afford the flight. They players I feel the most for are those who suffered serious injuries. They now have big bills and will be doing rehab on their own.
If I were the judge, I would not allow the bankruptcy. Billionaires formed the league and entered into contracts with venues, players and coaches. They have the money to honor those contracts. Make them pay from the same deep pockets that produced the cash which formed the league.
Except those same billionaires can afford the right lawyers that will make it all go away.If I were the judge, I would not allow the bankruptcy. Billionaires formed the league and entered into contracts with venues, players and coaches. They have the money to honor those contracts. Make them pay from the same deep pockets that produced the cash which formed the league.
He does not actually answer the critical question. If they had this money available to draw from, where did it go? He suggests that investors had the ability to pull funding. Why would anyone ever agree to that? It really means that you have no actual funding - just the possibility of funding as long as these guys don't lose interest or fear for their investment.
It's really not all that confusing, the whole debacle never really had sound footing (also 250 million from what I read was never promised, that would have been a whole new level of stupid honestly and they didn't even calculate their three year operating costs that high). The first investors thought better of the whole thing, and then the second investor (based on Ebersol's account) became frustrated because the league wasn't doing what he felt they were needing to do, and he pulled the plug.Dundon, came in, got what he wanted then left. He only spent operating expenses in the weeks he kept it open, not the $250,0000,000 he promised. It was corporate raiding at its finest. The fact that Ebersol got in such a bind prior to Condon's intro is what confuses me..
You are 100 percent wrong, and everyone who knows anything about this league disagrees with your assessment. This league was built on a 3 year profitability model, and there was no reason to believe that they would not have met that goal. They were attracting talented players and coaches, and they were attracting fans.It's really not all that confusing, the whole debacle never really had sound footing (also 250 million from what I read was never promised, that would have been a whole new level of stupid honestly and they didn't even calculate their three year operating costs that high). The first investors thought better of the whole thing, and then the second investor (based on Ebersol's account) became frustrated because the league wasn't doing what he felt they were needing to do, and he pulled the plug.
It's easy to call it corporate raiding, but I have yet to see proof that it actually had anything to be raided. Right now the liabilities are in the tens of millions, the first investors wanted no part of it, and the second one (after investing a very large sum, 70 million) thought better as well. They basically sold the league mid-season to Dundon. That's not what how really valuable assets tend to be treated.
By my count, and it's hard to keep up, but from what I can tell Dundon will need to get something like 100 million worth of something out of AAF to make this worthwhile. I'm not holding my breath because this whole thing always looked like a trainwreck to me, and the only surprise I have is that people put up any money in the first place. We'll see though... but Dundon had no incentive to pretend like he was trying to turn things around if he was just raiding them.
Either way, Dundon didn't come in and break something that was working fine. He came in and allowed them to make payroll. This league didn't fail because of Dundon, it lasted a little bit longer because of him.
Except for the fact that they failed to make payroll before Dundon entered the picture! Ebersol is trying to paint a pretty picture, but I'm 100% right on that part of it, and that's a train wreck. Just so we're clear here, a profitable company doesn't usually have trouble making payroll. Ebersol doesn't want to come out and say he's an incompetent lout, but he built something that actually failed twice during the first season.This league was built on a 3 year profitability model, and there was no reason to believe that they would not have met that goal.
You have no idea what you are talking about, but I don't care enough to argue with you about it. Many businesses cannot make payroll without financial backing for years. Many companies fail to make a profit for years. Some of the biggest companies in the world started that way.Except for the fact that they failed to make payroll before Dundon entered the picture! Ebersol is trying to paint a pretty picture, but I'm 100% right on that part of it, and that's a train wreck. Just so we're clear here, a profitable company doesn't usually have trouble making payroll. Ebersol doesn't want to come out and say he's an incompetent lout, but he built something that actually failed twice during the first season.
Blaming the guy who literally kept the lights on is asinine, but I haven't changed my tune on the league from the start, and I've actually still been disappointed. It was a failure from the beginning, and it had failure written all over it (I have yet to see any realistic explanation for how they were going to become profitable). For Ebersol to make claims that in 3 years this would have all worked out (if they just kept the money turned on, I mean after all another pro leagues can be worth 10 million but this baby was going to magically become worth 200), and for you to buy it, while at the same time glossing over the fact that Ebersol couldn't make payroll shows you how leagues like this come into being.
Built on rainbows and unicorns and a lot of fluff, but apparently not real solid financial footing. My earlier posts were built around the fact that I couldn't see how they were going to make money. Well, apparently they didn't make any, in fact they lost a lot. Ebersol now has two failed leagues under his belt, good for him, he's a real pro. Welcome to the world of faith based economic decisions (of which two completely different set of investors thought better of than continuing to participate). If this was money in the bank, someone is going to offer an explanation eventually for why the first set of investors ran away from it like their hair was on fire. May be, just may be it was because this wasn't making any money, rather it was rapidly losing it?
I get it, a lot of people wanted this to succeed so badly, that they'd prefer to blame the person who actually saved them from failing earlier. But, logically there's no way around the fact that without him they'd already have been finished.