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Simon, Fitzgerald, Cooke, Reed and Welch
Simon Fitzgerald, LLC
Louisiana’s Oldest Bankruptcy Law Firm
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Chapter 7 set approximately one year after AAF was founded

The American Alliance Football league was started in 2018. There are currently eight teams in the league. However, an announcement has been made to let fans in Louisiana and other football enthusiasts know that serious financial problems has prompted the control owner to dissolve the AAF and file for Chapter 7 bankruptcy. 

At this time, the league's liabilities far outweigh its assets. The owner has stated that there are several class action lawsuits pending against the league, and, reportedly, there are numerous other claims that are soon to be filed. In light of these events and the unresolved financial crisis, the league is ceasing all operations and beginning the liquidation process.

Players who are signed on with the AAF will reportedly be able to transfer to the Canadian Football League if they so choose. Bankruptcy has been chosen as the most viable option considering the AAF's liabilities, which amount to $48 million. This is in contrast to a little more than $11 million in assets and half a million in cash.

A trustee will be assigned to resolve all matters regarding players' contracts as well as all issues associated with the AAF's remaining assets and liabilities. While some Louisiana residents may see filing for Chapter 7 bankruptcy as the end of a financial road, others understand that it is often a means to a new and stronger financial beginning. An experienced bankruptcy law attorney can further explain this idea and provide effective guidance and support to anyone currently trying to overcome a serious financial problem.

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