NHL owner rescues fledgling AAF with much-needed cash infusion By David Glenn 2/18/19
....Less than a week later, multiple sources told The Athletic, the new league’s existence was in jeopardy.
According to the sources, there was one enormous problem, one that became obvious even before the AAF’s second weekend (Feb. 16-17) of games: The league was running short on cash, and quickly. Without new investors, there was a good chance it was going to miss payroll last Friday.
“Without a new, nine-figure investor, nobody is sure what would have happened,” one source said. “You can always tell people their checks are going to be a little late, but how many are going to show up on the weekend for games when they don’t see anything hit their bank accounts on Friday?”....
I find it to be a ridiculous notion they were able to get this far down the road without enough funding to make payroll in week 2. Yeah, nothing spells success like running out of money a week into the venture.
"I am undeterred and I am undaunted." --Kevin Stefanski
"Big hairy American winning machines." --Baker Mayfield
The AAF is a complete novelty. If it wasn't live football then no one would interact with it. I watched the first weekend and came to a conclusion that if I'm watching football in the off-season, I'll have a much better time watching NFL prospects.
I recorded all the Browns games this season. Erased many but kept a few gems. I’ll watch them later this spring when the itch for football gets stronger. In the meantime I’ll glance in at the AAF. A former Brown WR, Charles Johnson, had a monster game this past week. (I believe for Orlando?) He went over 150 yards. Made some big catches. Showed good use of his big frame to make plays. The AAF is a great place for him to get tape for an NFL team to review.
Most major ventures start in the negative now for a few years. Netflix, Uber, Snapchat, Twitter. Especially if the aaf is trying to get a market share of the audience before the XFL reboots. But I believe the NFL makes over half their money through their TV Deal. It'd make sense to me to see them in the red until they can expand their teams, increase fan engagement, and get into gambling. Apparently they were supposed to have a fantasy website built before the first game, but that never came to fruition. I was hoping Draftkings would make some line ups to give me an incentive to watch it. Anyway, they really need to get something different happening with their QBs. They are pretty bad.
Also, my boy Jalin Marshall had a great game this weekend.
I'm not sure about this, but wasn't the payroll glitch connected to the other owners selling out to the Charlotte owner and that the payroll issue was related to the transition?
Yes there was a "glitch", but the Quote from The Athletic sounds pretty serious...
Quote:
....Less than a week later, multiple sources told The Athletic, the new league’s existence was in jeopardy.
According to the sources, there was one enormous problem, one that became obvious even before the AAF’s second weekend (Feb. 16-17) of games: The league was running short on cash, and quickly. Without new investors, there was a good chance it was going to miss payroll last Friday.
“Without a new, nine-figure investor, nobody is sure what would have happened,” one source said. “You can always tell people their checks are going to be a little late, but how many are going to show up on the weekend for games when they don’t see anything hit their bank accounts on Friday?”....
"Making payroll" doesn't generally hinge on hoping for new investors.
Just so you know, I wasn't arguing. I was asking. I could have sworn I saw something about the owner from Charlotte investing $250 million in the league and becoming the man?
Oh, no bro, didn't take it that way at all. Yes, Charlotte investor Tim Dundon threw down 250M and the narrative seemed to be that he "saved the league" Overall there seemed to be mixed messages... with real eyebrow raising statements.
In the article, Ebersol basically refutes all of those claims and says the league is in good shape.
I feel like the close NFL ties and big names were the result of an unverified (by design) backing of the NFL. Makes sense, and puts them in position to crush the dreams of Vince McMahon (again) when the XFL returns next year.
Edited to add... With NFL ties you would expect the league to be pretty flush with cash, especially when there is never any chance of being "in the black" in the first season or two.
Most major ventures start in the negative now for a few years.
Yes, I know. Many new or growing concerns survive through equity financing. That's how they make payroll, (expand, and/or finance R&D, etc.) Obviously not the same thing at all.
"I am undeterred and I am undaunted." --Kevin Stefanski
"Big hairy American winning machines." --Baker Mayfield
Oh, no bro, didn't take it that way at all. Yes, Charlotte investor Tim Dundon threw down 250M and the narrative seemed to be that he "saved the league" Overall there seemed to be mixed messages... with real eyebrow raising statements.
In the article, Ebersol basically refutes all of those claims and says the league is in good shape.
I feel like the close NFL ties and big names were the result of an unverified (by design) backing of the NFL. Makes sense, and puts them in position to crush the dreams of Vince McMahon (again) when the XFL returns next year.
Edited to add... With NFL ties you would expect the league to be pretty flush with cash, especially when there is never any chance of being "in the black" in the first season or two.
I don't know about the NFL ties, but they have a TV contract with both CBS (and CBS Sports Network) and the NFL network. They pay their players and coaches a limited contract.
The players got 3 year, $250K/year deals, and these are non-guaranteed. I found another link that indicates that they start at $70K for the 1st season. (though they do get performance bonuses)
The coaches are also paid in a similar manner.
They make $500K for the 1st year.
The league is paying for health insurance for the players.
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
This is smelling like the WFL. I remember the stories about players not being paid, how teams couldn't afford equipment, trainers or travel expenses. They didn't last two seasons. What was that Charlotte owner thinking, dumping 250m into this league?
And into the forest I go, to lose my mind and find my soul. - John Muir
This is smelling like the WFL. I remember the stories about players not being paid, how teams couldn't afford equipment, trainers or travel expenses. They didn't last two seasons. What was that Charlotte owner thinking, dumping 250m into this league?
I HATE it ... the site I go to puts some of th players stats up as indivual blurbs ...i could care less how T-Rich did last week or is dong or who is the best reciever in the league or how Christian Hackenberg did in his most recent game ..
IT CLUTTERS MY SITEUP so i hate it .. *L* ...
If it wasnt for this thread and the stats my site lists i wouldn’t even know it existed ..
This is smelling like the WFL. I remember the stories about players not being paid, how teams couldn't afford equipment, trainers or travel expenses. They didn't last two seasons. What was that Charlotte owner thinking, dumping 250m into this league?
The league's payroll is only $32 million total per year, so the $250 million should go a long way.
I havent paid any attention to this league, but isnt the Browns affiliate in Birmingham Alabama? I am leaving Sunday and will be in Birmingham for three weeks
You may be in the drivers seat but God is holding the map. #GMSTRONG
Yes. Birmingham gets first rights on Browns, Steelers, Pats and Jets(?) or some other 4th team. You might want to hold off on any merch as Columbus will be getting a team in 2019, so our affiliations might change.
This is smelling like the WFL. I remember the stories about players not being paid, how teams couldn't afford equipment, trainers or travel expenses. They didn't last two seasons. What was that Charlotte owner thinking, dumping 250m into this league?
The league's payroll is only $32 million total per year, so the $250 million should go a long way.
Begs the question, how much is television revenue? Then I would like to know how much revenue was gained through ticket sales, concessions & licensing.
For example, NFL generates $13B in revenue, MLB generates around $9.5B, and Japanese baseball (one of the lowest in total revenue) generates around $1 billion. The Canadian football league generates about $200M.
I'd also be curious to know what the other expenses are beyond payroll. Seems to me if they're on TV and selling tickets, they're generating substantial revenue. I find it very odd the organization is in financial trouble after week one.
"I am undeterred and I am undaunted." --Kevin Stefanski
"Big hairy American winning machines." --Baker Mayfield
I missed last week's games, so I decided to watch at least 1 this week. So tonight I watched the Arizona Hotshots vs. the Memphis Express. When the game started I saw, for the first time, the Arizona logo, a fireman's badge with 2 crossed fire axes.
Hotshots, in the firefighter's world, is a 20-member inter-agency team of firefighters who train for, and fight wild fires. They are generally considered to be elite teams, like a SWAT team in the police world. On June 30, 2013 the Granite Mountain Hotshots, out of Prescott Arizona, had their escape route cut off when the wind shifted direction. 19 team members died. The sole survivor was deployed as a lookout at a different location. All their safety equipment was properly deployed, the fire was just too strong.
I don't know it for fact, but it sure feels like the Arizona team took the name Hotshots and adapted that logo to honor the Granite Mountain Hotshots. That is reason enough for them to be my favorite team in the AAF.
Oh, and ex-Brown Scooby Wright III plays linebacker.
There have been a few players who stand out, and a few players whose names I recognize from past draft research. Charles Johnson is making opposing DBs look bad. He was with the Browns for a cup of coffee, looked good, then got hurt. GB snatched him up.
1. #GMstrong 2. "I'm just trying to be the best Nick I can be." ~ Nick Chubb 3. Forgive me Elf, I didn’t have faith. ~ Tulsa 4. ClemenZa #1
I missed last week's games, so I decided to watch at least 1 this week. So tonight I watched the Arizona Hotshots vs. the Memphis Express. When the game started I saw, for the first time, the Arizona logo, a fireman's badge with 2 crossed fire axes.
Hotshots, in the firefighter's world, is a 20-member inter-agency team of firefighters who train for, and fight wild fires. They are generally considered to be elite teams, like a SWAT team in the police world. On June 30, 2013 the Granite Mountain Hotshots, out of Prescott Arizona, had their escape route cut off when the wind shifted direction. 19 team members died. The sole survivor was deployed as a lookout at a different location. All their safety equipment was properly deployed, the fire was just too strong.
I don't know it for fact, but it sure feels like the Arizona team took the name Hotshots and adapted that logo to honor the Granite Mountain Hotshots. That is reason enough for them to be my favorite team in the AAF.
Oh, and ex-Brown Scooby Wright III plays linebacker.
This is smelling like the WFL. I remember the stories about players not being paid, how teams couldn't afford equipment, trainers or travel expenses. They didn't last two seasons. What was that Charlotte owner thinking, dumping 250m into this league?
The league's payroll is only $32 million total per year, so the $250 million should go a long way.
Maybe both leagues last until the NFL strike of 2021. At that point it will be interesting to see how things are going... I hope by then or even well before we see some DFS for these leagues.
Pretty decent game today, Orlando vs Salt Lake, played in the snow.
Salt Lake played a lot better than their record would indicate.
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
It's becoming more evenly matched. The 1st week, it looked like Spurrier's team would run away with it all .... and they still might ..... but other teams are getting better as the season progresses.
They also have a lot of experienced head coaches roaming their sidelines.
I have been enjoying the season. It's not Cleveland Browns football, but it's certainly better than no football. I haven't "adopted" a team .... but am rather just enjoying the game.
I still don't like "placing the ball" though. I do no XP kicks, but don't know if I would like it in the NFL.
Micah 6:8; He has shown you, O mortal, what is good. And what does the Lord require of you? To act justly and to love mercy, and to walk humbly with your God.
John 14:19 Jesus said: Because I live, you also will live.
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