Arena Football League To Fold, Will Declare Bankruptcy

Posted on December 21st, 2009 by Ross Everett

After canceling their 2009 season, the Arena Football League has shut down entirely and appears headed for bankruptcy. Earlier this week, the league office released a short statement indicated that it had ceased operations because owners were \”unable to reach any consensus on restructuring the league over the past eight months.\” The league had reached a new agreement with players earlier this year, but was unable to convince enough owners that they had a viable plan to return to profitability. The leagues statement continued that there are no other viable options available to the league right now.\”

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