Dundon wants AAF to return his $70M investment

Tom Dundon has made a legal filing against the now-defunct Alliance of American Football seeking the $70 million he invested into the league, as relayed by Daniel Kaplan of The Athletic.

Dundon, the majority owner of the NHL's Carolina Hurricanes, joined the AAF in February after making the financial investment into the league. He now claims he was induced into doing so by "misrepresentations."

The league suspended operations on April 2, before the completion of its first season, and filed for Chapter 7 bankruptcy weeks later.

A legal filing made Monday reads: "Even though AAF executives told DCP (Dundon Capital Partners) its contribution would get the AAF through the first season, those executives knew at the time of the execution of the term sheet that the AAF would likely need an additional $50,000,000 (including league revenue) on top of DCP's investment of up to $70,000,000 to get through the first season. The AAF and its executives never disclosed this information to DCP."

The AAF was founded by Charlie Ebersol. His company, Legendary Field Exhibitions, is the primary debtor in the Chapter 7 bankruptcy case, according to Kaplan. The league reportedly claimed assets of $11 million and owns liabilities of $48 million.