Arena Football One Accepted as "Stalking Horse" Bidder for AFL Assets
Published on November 18, 2009 under Arena Football League (AFL) News Release
TULSA - The League Office of Arena Football One announced today that its offer to purchase the assets of the Arena Football League (AFL) from the Trustee in the Chapter 11 bankruptcy was formally presented to the U.S. Bankruptcy Court in the Northern District of Illinois.
The Court approved AF1 as the "stalking horse" bidder for all of the AFL's assets. The league's bid of $2.5 million sets the floor price for the auction bidding process; other buyers may also compete for the assets at an auction, which is set for Wednesday, November 25, 2009.
AF1 is committed to bringing the excitement of Arena Football to the fans after more than a year absence from AFL markets.
"This is another positive step in our efforts to bring the fun and excitement of the Arena Football game to fans across the country," said Commissioner Jerry Kurz. "Our goal is to create jobs and opportunities for players, coaches, operations staff and team office personnel throughout the country, and to bring affordable sports entertainment to the public."
Arena Football League Stories from November 18, 2009
- Iron Sign First Four Players To 2010 Roster - Milwaukee Mustangs
- Barnstormers Sign Three More Players For 2010 Season - Iowa Barnstormers
- Arena Football One Accepted as "Stalking Horse" Bidder for AFL Assets - AFL
The opinions expressed in this release are those of the organization issuing it, and do not necessarily reflect the thoughts or opinions of OurSports Central or its staff.
