Bloomberg Law
Nov. 27, 2019, 9:00 PM

Arena Football League Shuts Down and Plans to Liquidate

Jeremy Hill
Jeremy Hill
Bloomberg News

The Arena Football League, which runs a scaled-down indoor version of the game, will shut down and liquidate, according to a statement Wednesday and bankruptcy filing in Delaware.

Arena Football League LLC listed assets of as much as $10 million and liabilities of as much as $50 million in its Chapter 7 bankruptcy petition, signaling it will sell off its assets to pay creditors. The organization halted local business activities in October and explored other solutions before deciding to quit operating, the AFL said in a statement.

“We all love the game and tried very hard to make ...