NFL Notes: Lincoln Riley, Supplemental Draft, AAF

     

Lincoln Riley

  • According to Eric Bailey of the Tulsa World, Oklahoma HC Lincoln Riley has a $4.6 million buyout in his contract if he leaves for another job, including the NFL, following the 2019 season. 
  • The buyout decreases by $1 million each year until March, 2022, when the buyout will be waived. Riley’s contract runs through 2023. 

Supplemental Draft

  • Sports Illustrated’s Albert Breer doesn’t expect either West Virginia WR Marcus Simms or Syracuse LB Shyheim Cullen to be drafted during the supplemental draft. 

AAF

According to Daniel Kaplan of the Athletic, billionaire Tom Dundon is suing the AAF for a refund of his $70 million investment. Dundon claims his investment happened because of “misrepresentations.”

“Even though AAF executives told [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 [Dundon Capital Partners’] investment of up to $70,000,000 to get through the first season,” Dundon’s claim alleges. The AAF and its executives never disclosed this information to [Dundon Capital Partners].”

Dundon’s investment came at a critical time for the AAF when it needed an influx of cash to fund its first season. Dundon claims he was even further misled by the AAF, which said it only needed $55 million for the season and the rest of Dundon’s investment would be rolled over to 2020. 

“The AAF further represented that it could survive the season with only $55,000,000, leaving substantial capital to prepare for the following season,” per Dundon’s claim. “During the weeks following the execution of the Term Sheet, [Dundon Capital Partners] learned a number of alarming facts that revealed that the AAF was not forthcoming with Dundon and [Dundon Capital Partners]. [Dundon Capital Partners] learned that, in addition to not having the funds to pay salaries after the first week of the League’s games, the AAF also had accumulated more than $13,000,000 in unpaid debts and commitments. The AAF did not disclose these unpaid debts or commitments to [Dundon Capital Partners] prior to the execution of the February 14, 2019 Term Sheet.”

Leave a Reply

avatar
  Subscribe  
Notify of