Carolina Hurricanes owner Tom Dundon will be announced as the Alliance of American Football’s new chairman Tuesday after making a nine-figure investment into the league, The Athletic reported late Monday night.
The AAF, which is now two weeks into its inaugural season, was “running short on cash” before Dundon stepped forward with a $250-million investment, according to the web site.
Dundon, 47, became the majority owner of the Hurricanes in January 2018.
The upstart AAF consists of eight teams and features a collection of former NFL and college players and coaches ranging from former top-10 NFL draft pick Trent Richardson to former Washington Redskins and Florida Gators coach Steve Spurrier.
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The league has been viewed by some NFL executives as a potential talent-evaluation tool, while AAF executives have emphasized the long-term profitability and usefulness of some of the technology they have produced as part of their games.
Another new football league, the XFL, is set to kick off in 2020.