Welcome

Bankrupt Football League AAF, Creditors Tussle Over IP Valuation

July 26, 2019, 5:23 PM

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 ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.