Rumors began to swirl this week that AAF majority owner Tom Dundon shut down the league on Tuesday after obtaining technology the league’s parent company had in development. It appears that rumor is now dead in the water.
According to Darren Rovell of Action Network, the coveted gambling software developed by the Alliance of American Football could possibly be in the hands of MGM, rather than Dundon.
Sources close to the situation have noted that despite Dundon’s $70 million investment into AAF’s parent company Ebersol Sports Media, he does not own the rights to the technology developed by their tech subsidiary Legendary Field Exhibitions.
In a wild turn of events, it was revealed that MGM’s apparent investment in Legendary Field Exhibitions last June included language that would give MGM the rights to own the gambling-forward technology should the AAF close its doors.
The AAF ceased all operations on Tuesday, stranding players geographically, emotionally, and financially.
A financing lien filed with the Delaware Secretary of State in October confirmed that the provision granted MGM the rights to the technology’s intellectual property which included trademarks, copyrights, patents, software, and firmware.
Should Dundon file bankruptcy on behalf of the league, it would grant MGM in full control of the tech and its future.