New Pro Football League Folds Weeks After Launch

CNBC reports:

The Alliance of American Football will suspend all football operations on Tuesday, according to NBC Sports affiliate ProFootballTalk.

Founded and led by television producer Charlie Ebersol, the Alliance of American Football is also backed in part by Peter Thiel’s Founders Fund, The Chernin Group, and venture capitalist Keith Rabois.

CBS signed on as the official TV partner for the new league, airing two games in primetime on CBS and a host of other regular season games on CBS Sports Network.

Yahoo Sports reports:

Darren Rovell of The Action Network reports that the decision is being made by league owner Tom Dundon over the objections of founders Charlie Ebersol and Bill Polian. There is a conference call scheduled for Tuesday afternoon that should shed more light on the situation.

There have been stories for weeks that the league quickly ran into financial trouble, and those clearly continued despite the influx of money from Dundon. Rovell wrote that Dundon will lose $70 million on the investment he made.