NHL owner puts $250M into AAF, reportedly saves league from folding

The startup AAF has been saved by the owner of an NHL franchise.

Tom Dundon, the majority owner of the NHL's Carolina Hurricanes, made a $250-million commitment to the new football league last week after its first week of play, the Hurricanes announced Tuesday. The investment was necessary to save the league from missing payroll, David Glenn of The Athletic reports.

"Without a new, nine-figure investor, nobody is sure what would have happened," a source told Glenn. "You can always tell people their checks are going to be a little late, but how many are going to show up on the weekend for games when they don't see anything hit their bank accounts on Friday?"

Dundon will serve as chairman of the AAF's board of directors, effective immediately, according to the Hurricanes. The nascent league just completed its second weekend of action.

"This was a terrific opportunity for Tom to expand his investment in the sports world," Hurricanes president and general manager Don Waddell said in a release. "The AAF is off to an exciting start as a league and was founded on some truly unique and groundbreaking concepts."