Bloomberg Law
July 26, 2019, 5:23 PM

Bankrupt Football League AAF, Creditors Tussle Over IP Valuation

Diane Davis
Diane Davis

Bankrupt Alliance of American Football league is defending its intellectual property assets’ valuation in liquidation, pushing back on creditors’ attempts to get more.

The defunct semi-pro league plans to ask a Texas court to approve the valuation next month, which is included in a proposed settlement with its largest secured creditor MGM Resorts International Operations Inc., according to the AAF Chapter 7 trustee’s July 25 court filing.

In the settlement, AAF’s intellectual property assets—including a mobile application to give bettors biomechanical data used for play-by-play wagering—will be sold to MGM for $125,000. MGM also would reduce its $7 million claim ...