AAF Files for Chapter 7 Bankruptcy, Owes over $9.6M to Creditors
TEMPE, ARIZONA - FEBRUARY 10:  On-field logo before the Alliance of American Football game between the Arizona Hotshots and the Salt Lake Stallions at Sun Devil Stadium on February 10, 2019 in Tempe, Arizona. (Photo by Christian Petersen/AAF/Getty Images)

Christian Petersen/AAF/Getty Images

After suspending operations midway through the league’s first season, the Alliance of American Football has filed a petition for bankruptcy, according to Michael Rothstein of ESPN.com.

Based on Wednesday’s filings to a Texas court, the league has about $48.4 million in liabilities—including about $9.6 million owed to creditors—but only about $11.4 million in assets.

The league will file a Chapter 7 bankruptcy, which is the most common form in the United States, per Rothstein, giving it an opportunity to sell assets to pay creditors.

This article will be updated to provide more information on this story as it becomes available.

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