A PE Exec is Paying $250M to Rescue the AAF

Tom Dundon, the founder of Dundon Capital Partners and the owner of the NHL's Carolina Hurricanes, has announced a $250 million commitment to the AAF, mere hours after a report from The Athletic indicated the league was in danger of missing payroll unless it found "a new, nine-figure investor." Dundon will also take over as chairman of the AAF's board of directors; the other board members are former NBC Sports chairman Dick Ebersol and Keith Rabois. The amount of financing the AAF had raised from its collection of backers is unclear. But the fact that a league with such pedigreed leadership was already in dire financial straits would seem to be clear proof of just how difficult and expensive it is to get a first-rate professional sports league up and running—at least without a few major bumps in the road.

https://pitchbook.com/news/articles/a-pe-exec-is-paying-250m-to-rescue-the-aaf