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Opening day of the MLB
60% off – for the entire season
Jason Getz, USA Today Sports. On the picture: James Quick
- The American Football Alliance (AAF) suspended its operations on Tuesday.
- The league's majority owner, Tom Dundon, had invested $ 70 million in cash over a seven-week period, suggesting to some that he owned the underlying technology of the company.
- But the sources say to the network that this is not the case.
According to one theory, Tom Dundon would have folded the RAA to be able to use the technology of the company and use it for his own purposes.
There is only one problem with that.
Although Dundon's $ 70 million investment bought him the bulk of AAF's parent company, Ebersol Sports Media, Action Network has learned that Dundon does not have technology from Ebersol Sports Media's technology branch called Legendary Field Exhibitions.
When MGM invested money in AAF's technology sector last June, it contained a provision giving it the right to own the technology if the AAF ceased operations.
Sources confirmed the deal after The Action Network had discovered evidence of a funding lien filed with the Delaware State Secretary.
The link, filed in October, granted MGM rights to the intellectual property of technology, including trademarks, copyrights, patents, software and firmware.
A spokesman for MGM said that nothing had changed since the initial deposit, although the deposit itself was never made public and was clearly not applicable until the league suspended its operations. Tuesday.
MGM's investment was accompanied by a three-year sponsorship of the technology. The league's application, which allowed fans to project what would happen next, was introduced by some AAF insiders as a legitimate secondary company.
While the real-time projection of what was going to happen depended on the application of the league, MGM had planned to bet live on the game for AAF games in its application, something that never materialized.
A legal source told The Action Network that even if Dundon filed the bankruptcy league, the privilege would let MGM take control of the driver.
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