Bad News for the AAFL

The bad economy seems to be hitting all sorts of areas these days:

ALL AMERICAN FOOTBALL LEAGUE® LOOKING FOR
NEW MAJORITY OWNER TO SALVAGE '08 SEASON

In an attempt to secure kickoff of its inaugural season as well as its long-term future and success, the All American Football League® has begun discussions to explore multiple financing options.

Since inception, the League's finances have been indirectly tied to the $300 billion federally guaranteed student loan asset backed securities market. In August, the sub prime mortgage crisis began spreading into other sectors such as municipal bonds and federally guaranteed student loans. The situation, which was considered to be temporary at the time, has continued to worsen.

Despite the fact that the Federal Reserve has repeatedly lowered interest rates during this financial crisis, their efforts have not yet restored liquidity in many asset backed markets, including municipal bonds and student loans.

The League held its inaugural draft in January, and the team rosters and staffs are all in place. All teams are scheduled to open training camp Wednesday if liquidity can be immediately restored.

Every effort is being made to insure that the '08 season will be played as planned, but this depends upon a locating new majority owner with the needed liquidity, which in turn depends upon the League being able to finalize a TV deal. Otherwise, the inaugural season will be postponed to '09.

If you have the big bucks...please contact the AAFL immediately.