Arena Football One completes AFL assets purchase
Monday December 21, 2009
TULSA – The League Office of Arena Football One announced today that it has completed the purchase of the assets of the Arena Football League (AFL).
Led by Board Member William Niro and Counsel Pia N. Thompson, the league took possession of the assets from Bankruptcy Trustee Alex Moglia at a closing ceremony Friday morning in Chicago. “We had to run the gauntlet of well financed and powerful opposition to secure the assets for the future of the Arena Football game and our new league. In the end, we prevailed because of the unwavering commitment and trust that the members had in each other to make something special happen,” said Niro. “We can now focus our full attention on the 2010 season.”
Closing the transaction now allows Arena Football One (AF1) and it’s member teams, if they desire, to adopt and use the team names, trademarks and logos of the Arena Football League. Current team ownership groups in Chicago, Orlando, Arizona and Tampa Bay have expressed their intent to operate their new team under the former AFL team name, as have all the former arenafootall2 (af2) teams that will be playing in AF1.
Almost one year after the AFL announced suspension of the 2009 season, the AF1 has seized the opportunity to organize and develop the Arena Football game into the future.
"With the AFL asset purchase complete, AF1’s players, coaches, and team staffs are proud to carry on the tradition of providing quality, fan-friendly, affordable Arena Football to our fans across the country,” said Commissioner Jerry Kurz. “Our 2010 Inaugural Season is just around the corner and our teams look forward to a great season of competitive play.”
Formed in 2009, the Arena Football One League boasts teams from coast to coast and will commence its Inaugural Season in the Spring of 2010.