HomeNewsGovernanceAmerican FootballUSA

Alliance of American Football original investor arrested on bank fraud charges

The Alliance of American Football’s original main investor Reggie Fowler was arrested on Tuesday with charges of bank fraud and operating an unlicensed money-transmitting business. If convicted, Fowler reportedly faces up to 70 years in prison.

A former minority stakeholder in the Minnesota Vikings, Fowler reportedly agreed to fund the start-up American Football league with up to $170m (€152m) as the primary investor. He invested around $25m but funds dried up around Christmas time, which in turn led to co-founder Charlie Ebersol agreeing to a deal with Carolina Hurricanes owner Tom Dundon to take over the league.

Dundon agreed to invest $250m initially but pulled the plug on the league after losing approximately $70m in eight weeks. The Alliance has now ceased business operations after filing for Chapter 7 bankruptcy. Creditors have been told they will not receive any money.

Related News

American Football

The spring-season Alliance of American Football had a mixed inaugural weekend as it looks to fill the post-Super Bowl gridiron void. Its first two games which aired on CBS on Saturday night, ‏averaged 2.91
American Football

After a week of uncertainty, the Alliance of American Football suspended all operations on Tuesday, just eight weeks into its inaugural season
American Football

Tom Dundon, the Alliance of American Football's new majority owner, has threatened to fold the league despite having invested $70m (€62m) into the business.
American Football

The Alliance of American Football may have suspended operations but its problems continue, with two class-action lawsuits having being filed in California by former employees.

Related Content

American Football

Team using moment in spotlight to help fund construction of transformative new venue Key stakeholders will be invited to Atlanta; meetings with potential partners also arranged
American Football

Welcome to SportBusiness Group’s US Digest, rounding up the news and developments coming out of the world’s biggest sports market Telemundo takes lead against Fox for World Cup viewers As

Most recent

Motorsport

Formula One is likely to implement virtual advertising more widely in its global broadcast feed following its sponsorship and data rights partnership with ISG. But the sport needs to be careful not to fall foul of broadcast regulations concerning product placement. Ben Cronin reports
Football

German football has earned praise for its blend of ideological purity and commercial nous, but calls to reform restrictions on private ownership and investment are growing. With the Bundesliga’s media rights coming to market, Callum McCarthy explores how the league’s commercial performance over the next 18 months could shape its long-term future.
Lacrosse

Paul Rabil, who, with his brother Mike, started up the Premier Lacrosse League in the US, talks to Bob Williams about how they plan to make a success of the new league and about the challenges of setting up a new sports league from scratch.
3x3 Basketball

After suffering early growing pains, the Big3 basketball league appears to have found its feet ahead of its third season this summer. Bob WIlliams reports.