The on-again, off-again Arena Football League is off again — the entire league is closing its team services and business operations in all of its local markets, including Washington and Baltimore, at least for the time being, according to league officials.
The move comes as the league faces financial constraints and “struggled to secure enough additional financial investment” to execute on a business plan that called for steady local market expansion to develop scale, according to a Wednesday morning LinkedIn post by Ted Leonsis, whose Monumental Sports & Entertainment is the controlling owner of both the Washington Valor and Baltimore Brigade.
“Last week, the league was sued by a former insurer that provided workers compensation coverage for the AFL from 2009-2012, alleging that the league owes the insurer millions. That claim and other legacy liabilities that relate to prior league operations — all from long before MSE invested — have created significant financial constraints…
Read the full story from the Washington Business Journal.
