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Startup Football League Files for Bankruptcy as NFL Link Fails

April 17, 2019, 9:37 PM

The Alliance of American Football, the upstart league that abruptly folded midway through its first season, filed for bankruptcy after failing to secure a partnership with the NFL.

Legendary Field Exhibitions LLC, the parent of the eight-team league, listed liabilities of $48.4 million and $11.4 million in assets in a Chapter 7 petition on Wednesday in U.S. Bankruptcy Court in San Antonio, Texas. The Alliance of American Football said in a separate statement that it has begun a liquidation process.

“We are deeply disappointed to be taking this action,” the league said in the statement. “The AAF was created to ...